A delegation from AvtoVAZ headed by its president Nicolas Maure has paid a visit to Magnitogorsk Iron and Steel Works. The guests visited the oxygen-converter shop of MMK, as well as the sheet-rolling shop No. 11, which now has the newest cold-rolling mill, intended for high-quality automobile sheet production in particular. The sheet is used…
The shareholders of PJSC Central Mining and Processing Works, a part of Metinvest Group, intend to pay UAH 1.665 billion from the UAH 2.219 billion net profit in dividends for 2016. It is planned to distribute profit at an annual meeting of the shareholders scheduled for April 19. According to the draft decision of the…
In 2016 Rusal income decreased by 8% YoY, to $7.983 billion, because of the LME average aluminum price drop of 3.5% YoY, to $1.604 per ton. The corrected net profits and normalized net profits totaled $590 and $1.257 billion respectively, as opposed to $671 million and $1.097 billion in 2015. (Ukrainian metal)
The Pipe Metallurgical Company (TMK) has announced the appointment of Vyacheslav Gagarinov the managing director of Sinarsky Pipe Works. Previously he has served as the chief engineer of the company. SinTZ ex-director Vyacheslav Popkov has been transferred to the position of the deputy manufacturing general director of TMK. Gagarinov has been working at SinTZ since…
The state owes salary only to the Lisichanskugol miners in Lugansk region. “At present except for the Lisichanskugol salary debt, which is 110 million UAH, there are no debts to state mines”, energy and coal industry minister Igor Nasalik said. In early March Lvivugol miners threatened to stop supplying coal because of the salary debts…
In 2016 Poltava Mining and Processing Works received 32.15 million UAH of net losses, down from 5.9 billion UAH in 2015. The company current liabilities increased by 10.9% YoY, to 21.26 billion UAH, fixed liabilities dropped by 18.1%, to 841.89 million UAH, while accounts receivable went up by 11.1%, to 5.26 billion UAH. The company…
Russian gold producer Polyus plans to sell its 82.3% stake in the Nezhdaninskoye gold deposit in the republic of Yakutia to businessman Ivan Kulakov. The deal is valued at $150 million, and precious metals producer Polymetal, the minority shareholder of the deposit, will keep an option to raise its stake in the project to 50%.…
In January-February Kuzbass region mined 37.3 million tons of coal, up by 5.7% YoY. Power-generating coal totaled 26.7 million tons, up by 7.2%, coking coal – 10.6 million tons, up by 1.9%. In particular, Raspadskaya Coal Company increased output by 0.6 million tons, Kiyzasskiy Open-pit Mine – by 0.5 million tons, SUEK-Kuzbass and Stroyservice –…