Ukraine: VostGOK miners on strike

On August 16, Vostochniy Mining and Processing Works uranium miners went on a strike. The ore mining and salary payment were stopped three months ago because of the expiry of the license to use subsoil resources. The company received the license 20 years ago and now it has expired. But the State Service on geology…

Russia: Rosgeo starts exploration for gold and copper at new Khabarovsk field

Russian state geological exploration company Rosgeo has initiated exploration of gold and copper at a 121 square kilometer Yumtulsky prospective area in Russia’s easternmost Khabarovsk region through its subsidiary Dalgeophizika.

According to the company statement on August 16, it plans to finish the survey until the end of 2019. (Prime/Ukrainian metal)

Russia: Nornickel fund buys 5 tons of palladium in H1 2017

In January-June the Norilsk Nickel palladium investment fund Global Palladium purchased some 5 tons of metal (170 thousand troy ounces).

“The purchase volume in H2 will depend on the market situation”, the company CFO Sergey Malyshev reported.

According to him, the fund has been working quite actively, with revenue up 2-fold YoY. (Ukrainian metal)

Russia: Tagmet losses up in Q2 2017

In Q2 Taganrog Metal Works received 357.1 million of net losses, up from 58 million rubles in Q1. The combined losses of the company in H1 total 415 million rubles, up from 328 million rubles in H1 2016. In Q2 Tagmet revenue dropped by 9% QoQ, to 8.4 billion rubles. The combined revenue in H1…

Russia: steel structures output up in January-July 2017

In January-July Russia produced 2.4 million tons of steel structures and metal wares for construction, up by 11.8% YoY.

According to the Federal Service of State Statistics (Rosstat), in July output increased by 22.8% YoY, but dropped by 12.9% MoM. (Ukrainian metal)

Russia: Evraz ZSMK repairs blast furnace

Evraz ZSMK has finished the capital repairs of the blast furnace No. 2. The repair will improve work efficiency, increase the lifetime and decrease blast furnace manufacture impact on the environment. Evraz spent around 1 billion rubles on the furnace repair. In 2016 ZSMK repaired its BF1, in 2018 BF3 will be repaired. ZSMK blast…

Ukraine: coke output down in January-July 2017

In January-July Ukrainian by-product coke works produced 5.946 million tons of 6% moisture metallurgical coke, down by 21.4% YoY. In July coke output was 906 thousand tons, in June – 864 thousand tons. In July Ukrainian by-product coke producers increased output as local iron and steel works improved output as well. Dneprovsky Iron and Steel…

Latvia: talks with potential KVV Liepājas metalurgs buyers to conclude in August 2017

Talks with potential buyers of the insolvent KVV Liepājas metalurgs will conclude at the end of August, says representative of the company’s insolvency administrator Dzintars Hmielevskis. Information published in the insolvency registry states that a clarified KVV Liepājas metalurgs property sales plan has been submitted. The company’s insolvency process administrator Guntars Koris has extended the…