Russia: Reserv to lose Utinka gold

The Russian Environment Surveillance Service in Magadan region wants to annul the license to use subsoil resources given to Reserv LLC to operate at the Utinskoye deposits. According to the service the company has not started constructing infrastructure objects, nor has it prepared the mining object to be put into operation. The company director Victor…

Russia: Rosgeologia starts prospecting tin site

A subsidiary of the state concern Rosgeologia – Dalnevostochnoye PGO – is prospecting at the Arminskaya field in Primorsky region. The work is being financed from the federal budget under the state contract, the company being a subcontractor. The site with the size of 5706 square meters is situated on the territory of 3 administrative…

Russia: electrometallurgical works to be shut down

The Federal Antimonopoly Service hosted a meeting on the graphitized electrode market competition. According to the director of industrial control department Nelli Galimkhanova, the meeting was gathered following two claims from Rostov Electrometallurgical Works and Krasniy Octyabr. The situation is difficult, as the market has been experiencing a sharp shortage because of decrease in capacity…

Ukraine: VostGOK suffers losses from mine stop

The state enterprise Vostochniy Mining and Processing Works has not received 160-180 million UAH of profit because of the halt of Smolinskaya and Ingulskaya mines in Kirovograd region, “It’s been three months since the mines stopped operation and the uranium ore was not mined. According to our preliminary calculations, we have suffered some 160-180 million…

Ukraine: VSMPO-Avisma not to invest in DGOK

VSMPO-Avisma decided not to invest into the expansion of Demurino Mining and Processing Works capacities to 50 thousand tons because of economical reasons. “At present we get 12-15 thousand tons of ilmenite. We won’t invest in the capacity increase”, the corporation CEO Mikhail Voevodin said. “When we bought DGOK, it already had a factory. Now…

Russia: Seligdar losses down in H1 2017

In January-June Seligdar received 283.3 million rubles of net losses, down by 42% YoY. Earnings increased by 19.6%, to 2.3 billion rubles. Gross profit dropped by 1%, to 699.6 million rubles. Losses before taxation totaled 343.5 million rubles, down by 43%. EBITDA decreased by 16%, to 711.9 million rubles. As of June 30, the company…

Russia: Vysochaishiy gets Sberbank loan

Sberbank CIB has signed two loan agreements of providing Vysochaishiy, a part of GV Gold, with $150 million (8.7 billion rubles).

The first agreement presupposes the loan of $100 million (5.8 billion rubles) for 5 years. While the second is for 3 billion rubles ($50 million) for 3 years. (Ukrainian metal)

Ukraine: AMKR to purchase special equipment and repair two patient rooms of Kriviy Rih Municipal Clinic

PJSC ArcelorMittal Kriviy Rih granted a certificate for total amount of 3 million UAH to purchase special equipment and repair of two patient rooms in the burn ward to Kriviy Rih Municipal Clinic No. 2 of Dnipropetrovsk Region Council. Kriviy Rih has big medical center – Kriviy Rih Municipal Clinic No. 2 of Dnipropetrovsk Region…

Ukraine: Donetsk region metal output down in January-July 2017

In January-July Donetsk region (without the antiterrorist operation zone) decreased output by 12.9% YoY. Coke output in July increased by 7% MoM, but decreased by 12.8% YoY, while metal manufacture decreased by 9.4% and by 25.9% respectively. Coal mining in 7 months totaled 6.4 million tons, down by 23.7% YoY. Pig iron output decreased by…