Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies, announces that the English court has sanctioned the scheme of arrangement to implement its financial restructuring. Following a court hearing on January 17, the English court ordered that separate meetings of (i) the holders of certain notes issued by the…
On February 8, Lvivugol received 12.9 million UAH to buy equipment and modernize its mines. The major part of money will be invested in the modernization of Vidrodzhennya, Lisova and Stepova mines modernization to increase coalmining. This year Lvivugol announced it planned to increase coal output by 2.2% YoY, to 1440 thousand tons. As of…
In 2016 Izhstal, a part of Mechel, increased stainless steel output 2-fold YoY. Stainless steel production totaled 16.5 thousand tons. Continuous cast billet accounted for 19% of all steel produced, its output having increased 3-fold YoY. Stainless ingots manufacture went up 1.8-fold. At present the company is capable of producing 250 nickel-containing stainless steels and…
In 2016 Yakutia mined 23.653 tons of gold. The annual target was 23.5 tons of gold. The decrease of the target is explained with the planned indexes of local gold-miners. This year Yakutia expects to mine 22-23 tons of gold. (Ukrainian metal)
In 2016 Kazakhstan produced 74.6 tons of unwrought and semi-wrought gold, down by 17.1% YoY. The share of fine gold made more than half (37.7 tons) of the produced precious metals. Kazakhstan has observed intensification of gold production in recent years. In 2013 annual growth made 6.6%, in 2014 – 18% and in 2015 –…
Miners on the Ukraine-uncontrolled territories of Donbass receive salary via the bankcards of the state Oschadbank. “The anthracite coal, supplied from the ATO zone, is mined at Ukrainian enterprises, registered on Ukrainian territory, and from the ground, belonging to Ukraine. All of the miners there – around 50 thousands of them – are also registered…
The decision to stop buying coal from the uncontrolled territories of Donbass will lead to the necessity to buy it directly from the actual aggressor – Russia, at the price far exceeding local. “The needed 9-10 million tons of anthracite is a minus of $0.9-1 billion to the foreign trade. But what is more important…
The Individual Deposit Guarantee Fund will hold a second auction to sell the assets and land of the Ivano-Frankovsk Fittings Works. The starting price has been decreased by 8 million UAH. The assets, land, a sanatorium and a resort in the Carpathian Mountains have been loaned to the Brokbiznesbank. The debt of the works to…