Kyrgyzstan: placer gold deposit Baymak put out for bids

The State Committee of Industry, Energy and Subsoil Use put a deposit of placer gold Baymak on auction, official website of the committee reported. The deposit is located in Ala-Buka district of Jalal-Abad region. The deposit was discovered in 1956 following the ancient mining of placer gold. Kyzyl-Tokoy, Orto-Tokoy, Baymak, Ala-Buka, which now constitute Nizhnekassanskoye…

Uzbekistan: China to modernize coal enterprise

China Railway Tunnel Group has started work on the investment project to modernize the Shargunkumir Company. The investment project presupposes the increase of the company capacity to 900 thousand tons of coal per year. The Chinese company will clear 10 old mines and create a 2227-meters long tunnel. The total cost of the project is…

Kazakhstan: metal prices up in 2017

In 2017 prices of industrial products in Kazakhstan increased by 17.6% YoY. According to the Ministry of the national economy, prices in mining industry increased by 27.2% and in processing by 8.3%. In particular, metal ore prices grew by 15.8%, coal – by 10.3%, zinc – by 23.7%, copper – by 19.7%, aluminum – by…

Ukraine: $2.7 billion worth of coal imported in 2017

In 2017 Ukraine imported 19.8 million tons of coal valued at $2.7 billion. According to the State Fiscal Service, Russia supplied $1.552 billion worth of coal (56.57%), USA – $682.01 million (24.85%), Canada – $182.2 million (6.64%) and other countries – $327.65 million (11.94%). Exports mostly went to Russia – $57.475 million (54.48%), Slovakia –…

Russia: rolled metal demand down

In 2017 rolled steel sheet was the most sought after type of rolled metal.

At present Russian market is witnessing a slight seasonal decrease in demand, which allows buying materials cheaper. Customers also leave their orders online more often, which simplifies the purchasing process.

Steel sheet is used in machine-building, construction, agriculture, etc. (Ukrainian metal)

Latvia: KVV Liepājas metalurgs’ potential investor given two weeks to consider purchase

The potential investor of the insolvent KVV Liepājas metalurgs is given two weeks to consider purchasing the company, says Latvian Economy Minister Arvils Ašeradens. He admits that talks with the potential investor are not over; the investor wants to secure the most beneficial conditions in business negotiations. Latvian government is also highly interested in getting…

Ukraine: S&P changes Ferrexpo rating to Positive

Standard&Poor’s has changed the rating forecast for Ferrexpo plc, owner of Poltava and Yeristovo GOKs, from Stable to Positive. On December 29, 2017 S&P improved the group rating following the “high productivity” shown lately. The agency has also confirmed Ferrexpo’s long-term rating at B-. The rating improvement is the result of the stable iron ore…

Ukraine: metal makers retain annual output volumes

In December 2017 Ukraine produced 1.87 million tons of pig iron, 1.88 million tons of steel and 1.7 million tons of rolled metal, all up by 3%, 0.4% and 7% MoM respectively. “Output increase in December 2017 was mostly thanks to Mariupol Iron and Steel Works and Zaporizhstal”, Ukrmetallurgprom reported. In January-December 2017 Ukraine produced…

Russia: Mechel reports on the change in management

Mechel informs that the group CFO Sergey Rezontov is leaving the company.

According to the statement, Rezontov resigned due to his personal reasons.

“We are grateful to Sergey Rezontov for his work”, Mechel CEO Oleg Korzhov said. (Ukrainian metal)

Ukraine: coal imports exceed 4 million tons

In January-November 2017 Ukraine imported 4.11 million tons of power-generating coal for thermal and combined heat and power plants. According to the Ministry of energy and coal industry, in 11 months Russia supplied 3.083 million tons of coal (75% of all the imports), South Africa – 653.2 thousand tons (15.9%), USA – 254.8 thousand tons…

Ukraine: Zaporozhye Aluminum Foil Works to be sold

The Zaporozhye subsidiary of the State Property Fund has announced the electronic auction of Aluminum Foil Works at the Ukrainian Universal Exchange.

The starting price of the state enterprise is 583.9 million UAH.

The auction is scheduled for January 19. The participation requests are accepted through January 15. (Ukrainian metal)

Kazakhstan: coal price up in 2017

As of late November 2017, the coal increased in price by 27.6% (or by 2.6 thousand tenge), to 12 thousand tenge per ton, following the drop of 0.5% (52 tenge) in 2016, to 9.5 thousand tenge. In January-November 2017 coal mining reached 95.9 million tons, up by 5.2% YoY (or by 4.8 million tons). The…

Kazakhstan: Kazakhmys sums up 2017 results

In 2017 Kazakhmys Group of Companies fulfilled its manufacturing plan in advance. In particular the group produced and sold 232943 tons of cathode copper. Copper concentrate output totaled 238.300 tons. The average copper contents in the ore were 0.93%. Despite the shortage of the rolling stock Kazakhstan railroads transported 12 million tons of cargo, including…