Russia: Chukotka gold output to fall in 2017

Gold production in the Chukotka Autonomous District is to decrease by 3 tons in 2017 due to reserve depletion on some of the deposits, head of the region Roman Kopin reported on August 24. “The amount expected in 2017 is 26 tons,” Kopin said. Chukotka Mining and Geological Company and Severnoye Zoloto, units of Kinross…

Russia: Lenzoloto IFRS net loss up in H1 2017

The net loss of Russian gold producer Lenzoloto tripled to 1.072 billion rubles in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 24. The pre-tax loss also tripled to 1.091 billion rubles, income from sales fell by 17.5%, to 2.396 billion rubles, including income from gold…

Ukraine: steel, rolled metal and pig iron output up in July 2017

In July Ukraine, not counting the temporarily occupied territories of Crimea, Sevastopol and the ATO zone, produced 975 thousand tons of steel (without continuous cast semi-finished products), up by 7.8% YoY and by 16.5% MoM. According to the State Statistics Service, steel output in January-July decreased by 7.3% YoY, to 6175 thousand tons. Pig iron…

Russia: BMK modernizes roller furnace

Beloretsk Iron and Steel Works has modernized the roller furnace in the rolling shop.

This will improve the rolled metal quality and decrease expenses.

The furnace is used to heat the billets to 1050 degrees C before rolling.

Investments in the project totaled 15 million rubles. (Ukrainian metal)

Russia acknowledges coal exports from occupied Donbass

The Russian Ministry of energy has acknowledged that most of the coal, supplied from pro-Russia terrorist-occupied territories of Ukraine, is re-exported. The deputy energy minister Anatoly Yanovsky said that a small portion of Donbass coal was consumed by Gazprom’s electric power plant in Rostov region. “Coal from Donbass is supplied to Russia. It is consumed…

Ukraine: Corum increases salary

On August 1, the Kharkiv Machine-Building Works “Corum Svet shakhtera”, a part of Corum Group, started increasing salary of its employees on the background of the 120% loading of its capacities. The maximum increase will total 40%. Previously the wages ranged between 8 and 15 thousand UAH depending on the output and quality of products.…

Uzbekistan: Russian MetProm to prepare Uzmetkombinat modernization project

The Russian group of companies MetProm will design the modernization project for Uzbekistan Iron and Steel Works. The Uzbek party will have received the project documentation by October. The project presupposes the construction of two steelsmelting furnaces, two steel-treating furnaces and a casting-rolling complex. The modernization cost is estimated at $550 million. After the modernization…