Russia: Seligdar revenue down in Q1 2019

In January-March, Seligdar revenue dropped by 12.3% YoY, to 18.83 million rubles, with gold sales revenue down by 61.7%, to 2.313 million rubles. Sales losses totaled 72.106 million rubles. This year the company fell to the gross loss of 3.62 million rubles from the gross profit of 4.25 million rubles in Q1 2018. The net…

Russia: Stangold keeps gold output volumes unchanged

Stangold LLC has started the washing season and intends to extract 60 kg of gold.

According to the company, output has remained unchanged since 2017.

Since 2011 the company has been annually developing the alluvial gold sites at the Verkhniy Sirik Brook.

Reserves are estimated at 96.8 kg of gold. (Ukrainian metal)

Russia: TMK revenue down in Q1 2019

In January-March, TMK EBITDA grew by 9% YoY, to $175 million. According to the company statement, revenue dropped by 1%, to $12.57 billion, with gross profit up by 6%, to $235 million. Compared to Q4 2018, EBITDA fell by 2%, and revenue by 1%, while gross profit increased by 5%. As of March 31, the…

Russia: VTB raises stake in Polymetal after repo deal

Russia’s second biggest lender VTB has raised the stake in Polymetal International plc to 5.15% from 0.16% as a result of a repo deal, the bank said.

The deal took place on May 14. (Prime/Ukrainian metal)

Russia: Udmurtia governor visits Izhstal

Alexander Brechalov, governor of the Udmurtia Republic, has visited Izhstal under its industrial tourism program. In particular, he paid a visit to the electric arc shop. In 2010 a new steel smelting complex was commissioned in the shop. The complex consists of an arc furnace with the capacity of 40 tons of liquid metal, a…

Russia: RUSAL reregistering business in Kaliningrad

Russian aluminum producer RUSAL is reregistering the business in a special administrative zone in Kaliningrad, Yelena Bezdenezhnykh, vice-president for regional policies and government relations, said at the St. Petersburg International Legal Forum. “RUSAL is relocating to Kaliningrad, as you know, there is reregistration,” Bezdenezhnykh said. “In this case this is one of the good examples…

Ukraine: 4 out of 5 UZ scrap auctions fail

On May 16, 4 auctions to sell scrap via the ProZorro system, organized by Ukrzaliznytsia, did not take place. The Ukrainian Railways intended to sell 8.7 thousand tons of scrap for 50.5 million UAH, 4.5 thousand tons for 25.3 million UAH, 7 thousand tons for 44.6 million UAH and 16.2 thousand tons for 103.7 million…

Russia: Karabashmed stops last old converter

Karabashmed has put out of operation the last of the three 60-ton converters. They are replaced by new Kumera machinery with the capacity of 150 tons each.

Soon the old converters Nos. 2 and 3 will be disassembled.

Two new converters have already been commissioned. (Ukrainian metal)