Steelmaker Severstal, controlled by Russian tycoon Alexei Mordashov, expects possible government claims to amount to about $400 million of taxes on dividends transferred to the British Virgin Islands through Cyprus companies in 2009-2015. The company said that the figure was based on 2015 changes in the law on controlled foreign corporations aimed at regulation of…
Russian oil and gas pipe maker TMK plans to sell 139 million common shares at 75 rubles per paper during a secondary public offering (SPO) to raise about 10.417 billion rubles from the placement, the company said in a statement. Earlier TMK said it launched the SPO to offer up to 139 million common shares…
The state enterprise Lvivugol has received 14.7 million UAH for the sale of coal. “All the money was spent to pay salary to miners. They have received their December 2016 salary in full”, the energy and fuel department of the Lviv state regional administration reported. (Ukrainian metal)
Following Taiwan that in mid-January announced it would join the consultations between Japan and India on the Indian steel imports limitations, Ukraine and Russia decided to do the same. According to Russia, the import limitations, imposed by India in 2015-2016, resulted in the decrease of Russian exports to India by 38% YoY in 2016, to…
Yakutugol, a part of Mechel, has purchased two new excavators EKG-18 for the operation at its Neryugrinsky mine. The new machinery was purchased within the program of technical modernization of the enterprise. The cost of the two machines is around 1.2 billion rubles. The first excavator will be put into operation in March. The excavators…
On February 15, the Eurasian Economic Committee will hold a public hearing within the antidumping investigation of the Ukrainian hot-rolled angles supplies to the territory of the Customs Union. The investigation started in August 2016, following the complaint of Evraz ZSMK and NTMK. Severstal and MMK were also interested in implementation of limiting measures. (Ukrainian…
Metinvest fears the blast furnaces of its Azovstal Iron and Steel Works could decrease output to the lowest possible level because of the lack of coke. According to the group’s press-service at present all the blast furnaces are operating, as they get coke from the 3 coking batteries. But they are not enough to provide…
In 2016 Kuzbassrazrezugol enterprises mined 44.3 million tons of coal, including 6.2 million tons of coking coal. The annual output equals the 2015 results, but coking coal production increased by 7.2% YoY. Coal sales decreased by 1.8 million tons YoY, to 39.8 million tons. “This has to do with us increasing the coal processing. Thus…
