The Ministry of energy and coal industry intends to close down 11 state mines. “We will shut down 11 mines. We have chosen 15 mines and can make them profitable; after that we will privatize them”, said the ministry head Igor Nasalik. The remaining 7 most profitable mines will remain in the state ownership. Last…
Month Russian market, $/t, EXW, without VAT, $1/RUR64.3334* Ukrainian market, $/t, without VAT, EXW, $1/UAH25.1865* Export, Ukraine, $/t, FOB Black sea ports Export, Russia, $/t, FOB Black sea ports min max min max min max min max March 202 236 161 214 235 250 190 250 April 202 236 183 243 280 285 275 300…
Zaporizhstal has successfully passed power management system resertification audit to meet ISO 50001:2011. The audit was carried out by the Technical and management services company, a partner of TUV SUD. The auditors have marked the high level of power management and prolonged the certificate for 3 years. For the past three years Zaporizhstal was able…
In 2015 Metinvest decreased investments by 54% YoY, to $285 million. “The holding carried on with its investment projects in accordance with the technological strategy”, said the company in its statement. Metal and mining divisions received 48% of investments each. Due to the conflict in the region priorities moved to the supporting projects and those…
The Ministry of energy and coal industry supports the idea of implementing coal mining rent. “We do support this rent, but not at the moment – some time later”, said the minister Igor Nasalik. The ministry sees this idea as a way to finance profitless mines at the expense of highly profitable ones. “We take…
Mariupol Ilyich Iron and Steel Works has found a way to decrease losses of air blast under low capacity or fanning. “Our specialists have found a way to decrease the minimal turbine turning frequency and steam consumption. This is also important as the blast-furnace gas becomes scarce, because of the drop in blast-furnace output. Thus…
Energomashspetsstal will produce a batch of rolls for Steinhoff GmbH (Germany). The company has already started making billets of supporting and working rolls for cold-rolling mills. “According to the contract, in July EMSS will supply 12 rolls weighing 66.5 tons to Germany. They will be completely treated here”, said the company in its statement. EMSS…
Magnitogorsk Iron & Steel Works (MMK) is pleased to announce that on May 23, the rating agency Fitch Ratings revised the outlook on its long-term issuer default rating (IDR) to positive from stable and affirmed the IDR at ‘BB+’. In its press-release Fitch notes that the positive outlook reflects MMK’s strong financial performance which allowed…
