The U.S. Treasury Department’s decision to impose sanctions on Gazprombank poses a potential major challenge to Uzbekistan’s growing mining industry, which has relied on the Russian bank for financing the expansion of the $4.8-billion copper mine project, expected to nearly double the country’s copper production. With Gazprombank now excluded from the international payment system, Uzbekistan…
ArcelorMittal Kriviy Rih expects a further drop of metal output, as well as VAT reimbursement by 100-150 million UAH per month and foreign currency revenue by $50-100 million in case the electricity transmission tariff increases by 26%. On November 13, it was decided that the tariff for electric energy transmission would be increased from 528.57…
A project is being implemented as part of a partnership between Kazakhstan and the United Kingdom in the field of critical minerals. British companies are negotiating supply contracts with Kazakhstani manufacturers of tungsten products. Contacts have been established with six brokers from the UK and three end users of the products. The event, organized by…
Thanks to the operation of the maritime corridor the metal industry this year will improve its manufacture compared with 2023. But the growth will be tiny, president of the Ukrainian Association of Metallurgists and Miners Oleksander Kalenkov has said. “This year has shown some improvement at our enterprises. I think that we will reach 7.2-7.3…
A criminal case has been opened on the fact of illegal mining of placer gold at Orto-Tokoi reservoir, the press service of the Prosecutor General’s Office reports. “It was found out during an inspection that due to the lack of proper control on the part of local government bodies, as well as officials of Orto-Tokoi…
Prime Minister of Kazakhstan Olzhas Bektenov gave instructions on development of geological exploration in the country at a government session on December 3. In his speech, Bektenov recalled the President’s task to increase the area covered with geological exploration from 1.5 to 2.2 million square km before 2026. “Now, the area covered with geological exploration…
In 2025, the Navoi Mining and Metallurgical Company (NMMK) plans to issue eurobonds worth $500 million. In 2024, NMMK successfully placed eurobonds on the international market, raising $1 billion. These bonds were listed on the London Stock Exchange in October. According to Fitch Ratings, the bond issuance is an important step in implementing NMMK’s strategic…
Kazakhstan’s mineral resource base includes 987 reserves of solid minerals, the industry and construction minister Kanat Sharlapaev has said during a government meeting. According to Sharlapaev, Kazakhstan has observed growth in iron, manganese, gold, uranium, oil and gas reserves in the past 30 years. “However, the rate of replenishing copper, zinc, lead and aluminum reserves…
