Ukraine: Volynugol to be reorganized

This year Volyn region miners have lost some 130 million UAH because of the unfinished construction of the mine No. 10, According to the regional authorities, some 600 million UAH are needed to commission the first stage of the mine. Then the enterprise has to earn money for the second and third stages itself. The…

Russia: REMZ resumes steel manufacture

REMZ employees have resumed operation after their salary debts have been cleared.

In November REMZ produced 30 thousand tons of steel, the largest monthly volume this year. The target has been exceeded by 65%.

In a month the works hired 50 people and intends to employ 65 more. (Ukrainian metal)

Russia: Yakutia to reach gold target

In January-October Yakutia obtained 21.5 tons of gold, including 11.8 tons of ore gold and 9.7 tons of alluvial gold. Alluvial gold target has been outperformed by 7%. Ore gold output is slightly lagging behind, but should increase. The target for this year is 24 tons of both ore and alluvial gold. In 2011 the…

Russia: Kimkano-Sutarsky GOK ships 1.5 million tons of iron ore concentrate

As of early December Kimkano-Sutarsky Mining and Processing Works has shipped 1.5 million tons of iron ore concentrate since the start of operation in 2016. In January-September the works shipped 1.167 million tons. In Q3 the company produced 469.9 thousand tons of iron ore concentrate. At present, according to the company CEO Yuri Makarov, KSGOK…

Russia: Telen mines 97 thousand tons of coal

In January-October Telen mined 97 million tons of coal. As of November 15 output reached 105 thousand tons. “Telen intends to operate while its license is still valid – till 2059. Our plans for the future is to increase output, expand sales markets and construct industrial premises”, the company said. In 2016 the company obtained…

Russia: Natalka gets first Dore gold

Natalka Mining and Processing Works, the main new project of Polyus, has received the first batch of Dore gold. The company is testing the new machinery. Polyus expects the project to reach full capacity by late 2018. Natalka gold-extracting factory with the capacity of 10 million tons of ore is the largest in Russia. It…

Russia: S&P improves TMK rating

S&P Global Ratings has improved the TMK rating to the Stable. The agency has also confirmed the company long-term ratings in foreign and local currency on the level of B+. “The Stable forecast shows our expectation of the company to continue making efforts to decrease the share of loan funds”, the agency said. According to…

Russia: BMK investment project to get tax preferences

The Republic of Bashkiria has granted tax preferences to 5 priority investment projects.

Among them is the “Organization of the multistrand ropes manufacture”.

Beloretsk Iron and Steel Works initiated the project.

Investments total 510 million rubles. 68 new jobs will be created. (Ukrainian metal)

Russia: Gaysky GOK finishes construction of new ore loading unit

Gaysky Mining and Processing Works is finishing the technical revamping of the sixth ore-loading unit at the processing factory.

This is the final stage of the work this year.

The factory processes some 29-30 thousand tons of ore per day.

Investments in the construction of the new unit total 24 million rubles. (Ukrainian metal)