The president of Ukraine Petro Poroshenko has signed the decree on 5% scrap import duty cancellation that introduces amendments to the customs tariffs. The decree is supposed to decrease ferrous scrap shortage on the local market and provide for infrastructure objects restoration. This is the second part of the metal market supporting package – the…
Month Ukrainian market, $/t, without VAT, EXW, $1/UAH25.897* min max August 247 247 September 275 275 * – Ukrainian Hrivna and Russian Ruble exchange rates are as of 30.09.16 according to the National Bank of Ukraine and the Central Bank of the Russian Federation. (Ukrainian Metal)
In Q3 Highland Gold Mining Ltd produced 63.09 thousand ounces of gold equivalent, down by 11% YoY. Output decrease is explained by the drop in Belaya Gora production. Mnogovershinnoye and Novoshirokinskoye mines output remained mostly flat. In January-September gold output totaled 191.75 thousand ounces, up by 0.2% YoY. This year the company intends to mine…
At present Ukraine gets some coal from mines on the occupied Donbass territories that pay taxes to the state. According to the energy and coal industry minister Igor Nasalik, Ukraine consumes 24 million tons of anthracite coals, with some 2.9 million tons produced at unoccupied territories. All the rest is supplied from mines in the…
In October ArcelorMittal Kriviy Rih was reimbursed the most VAT among mining and metallurgical companies – 1.08 billion UAH. According to the State Treasury, Mariupol Ilyich Iron and Steel Works occupied the second position with 831.7 million tons, with Dneprovsky Iron and Steel Works the third (580.5 million UAH). They were followed by Azovstal (208.8…
Polyus Gold International Ltd (PGIL) of tycoon Said Kerimov is in talks to sell 25% plus one share in the Russian largest gold producer to China’s Fosun Group for $2 billion. A source reported that the negotiations were at an advanced stage, and the deal might take place in late 2016 or in early 2017.…
Month Ukrainian market, $/t, without VAT, EXW, $1/UAH25.897* min max August 256 390 September 250 413 * – Ukrainian Hrivna and Russian Ruble exchange rates are as of 30.09.16 according to the National Bank of Ukraine and the Central Bank of the Russian Federation. (Ukrainian Metal)
In Q3 Norilsk Nickel produced 87 thousand tons of copper, down by 4% QoQ. Copper output of own raw materials dropped by 5%, to 82 thousand tons. The decrease is explained by the low copper content in the raw materials and the assembly works at the Talnakh Processing Factory. In January-September Nornickel produced 264 thousand…