Ukraine: coal imports down in January-August 2016

In January-August power-generating companies of Ukraine imported $1.21 billion worth of coal, down by $902.2 million YoY. According to the State Fiscal Service, the largest suppliers of coal were Russia ($594.9 million), USA ($132.7 million) and Australia ($49.5 million). Earlier energy minister Igor Nasalik claimed Russian coal was not a priority for the ministry. (Ukrainian…

Ukraine: VAT reimbursement in August 2016

In August ArcelorMittal Kriviy Rih received the largest VAT reimbursement among mining and metal companies – 440.6 million UAH. According to the State Treasury Service, the company is followed by the Mariupol Ilyich Iron and Steel Works (335.5 million UAH) and Azovstal (272.2 million UAH). Zaporizhstal received 223 million UAH, UGOK – 164.7 million UAH,…

Ukraine: SCM sells Kolosnikovskaya Factory

System Capital Management has sold almost 100% of the Kolosnikovskaya Central Processing Factory (situated in the Russia-supported terrorist-occupied territory of Donetsk region) to a Makeevka citizen Victor Chmilev. Chmilev has already replaced SCM representative in the supervisory board Alexander Onischenko. According to the board decision the general manager of the factory has also been replaced.…

Russia: PMKh net profits up in H1 2016

In January-June the Industrial-Metallurgical Holding received 4.51 billion rubles of net profits, up by 7.1% YoY. EBITDA dropped by 44.34%, to 4.52 billion rubles. PMKh decreased income by 3.76% YoY, to 28.28 billion rubles. In H1 the company mined 925 thousand tons of coking coal, down by 13% YoY. Coal concentrate output went up by…