Russia: Evraz appoints new CFO
Evraz plc has appointed Nikolay Ivanov the new vice-president on finances (CFO). Ivanov will replace Giacomo Baizini, who has been CFO for 4 months following the resignation of Pavel Tatianin. (Ukrainian metal)
Russia: metal raw materials transportation up in November 2016
In November Russian Railways increased throughput by 2.6% YoY, to 34.06 million tons. In particular, the company transshipped 9.9 million tons of coal, up by 3% YoY. Iron and manganese ore transshipment went up by 4.5% YoY, to 3 million tons, ferrous metals scrap – by 10.4%, to 0.4 million tons, and coke – by…
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Russia: Nordgold cuts 2016 output forecast
Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has cut its 2016 gold output forecast to 840,000-880,000 ounces from 880,000-930,000 ounces due to suspension of production at the Aprelkovo mine and difficulties with access to African deposits because of an extraordinarily long rain season, the company said in a statement. But the forecast…
Belarus and Pakistan mull over joint steel production project
Belarus and Pakistan are mulling over a joint steel production project, the press service of the Belarusian Industry Ministry reported. “Minsk hosted an official meeting of the Belarusian Industry Ministry authorities led by Minister Vitaly Vovk with Ahmad Ayaz Sadiq, Vice President at Barclays Bank Plc, Director for FI and NBFI Coverage in the Middle…
Russia: MMK to return to pre-crisis profits
In 2016 Magnitogorsk Iron and Steel Works could receive $1 billion of net profits. Experts believe that the net profits will total $814, with EBITDA at $1.5 billion. In H1 MMK earned $486 million of net profits. Q3 results are on par with Q2, and MMK prices went up by 5%. Even though in Q4…
Ukraine: DTEK Pavlogradskoye mines 3 million tons of coal
Pavlogradskoye Mine Group has mined 3 million tons of power-generating coal a month before the planned time. The company is in the TOP-3 DTEK miners. Average daily output in January-October totaled 11 thousand tons. “The output of 3 million tons will let out thermal power plants provide light and warmth to hundred thousands of Ukrainian…
Ukraine: new construction estimate for Novovolynskaya mine
The Cabinet of Ministers has corrected the Novovolynskaya No. 10 mine construction project estimating it at 4457.24 million UAH. According to the new project, 2.189 billion UAH will be spent on mining and construction works, 1.309 billion – on equipment and machinery, 960.4 million UAH – on other expenses. The time of construction is now…