Russia: GV Gold IFRS net profit down in H1 2018

The net profit of Russia’s gold producer GV Gold fell by 9.5% YoY, to $19 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue soared by 70%, to $146 million. Operating profit grew by 52%, to $43 million. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by…

Russia: Amur Zoloto extracts 790 kg of gold

In January-July Amur Zoloto LLC, extracting gold on the territory of Khabarovsk region, produced 789.5 kg of gold. In particular, the Yubileyniy GOK at the Krasivoye deposits produced 44.4 thousand tons of ore gold, with Yubileynaya factory processing 59.3 thousand tons of ore and producing 538.6 kg of gold and 333.9 kg of silver. Perevalnaya…

Russia: Krasniy Octyabr to assemble boiler houses

The Volgograd-based Krasniy Octyabr is carrying out the program of technical revamping.

The next step is the assembly of boiler houses.

So far subcontractors have prepared foundation for 4 mini-boiler houses. The foundation for 2 more is under construction.

Viessmann Group will supply the machinery. (Ukrainian metal)

Russia: railroad deliveries of metal to oil and gas complex down in July 2018

In July railroad deliveries of metal to the major oil and gas enterprises totaled 298 thousand tons, down by 22% YoY.

In January-July deliveries dropped by 10.7% YoY, to 2.5 million tons.

According to the railroad statistics, this is the lowest result in the past 9 years. (Ukrainian metal)

Russia: UralKuz confirms QMS correspondence

The Uralskaya Kuznitsa Works has successfully passed the re-certification audit of the quality management system correspondence to ISO 9001:2015. The audit has been carried out by TUV Rheinland. The company specialists have checked the forge-press and mechanical shops, and talked to the employees. As a result of the inspection, the quality management system has been…