Russia: Lermontovsky GOK not to go bankrupt but to remain idle

Lermontovsky Mining and Processing Works LLC is no longer threatened by bankruptcy.

According to the company director Vladimir Kalinovsky, the issue with indebtedness to the Amur-EP LLC, which has filed a suit against LGOK, has been settled.

Still, until September most of the employees will not be working. (Ukrainian metal)

Russia: Russkiy Ugol output up in H1 2017

In January-June Russkiy Ugol enterprises mined 6.8 million tons of power-generating coal, up by 11% YoY and by 881 thousand tons from the target. Coal shipping in H1 totaled 6.5 million tons, up by 15% YoY. Krasnoyarskiy Krai was the leader in mining and shipping with output at 3.2 million tons, up by 23% YoY,…

Russia: ChTPZ earnings up in H1 2017

In January-June ChTPZ Group received 72.566 billion rubles, up by 6% YoY. Gross profit decreased by 21%, to 17.297 billion rubles, EBITDA – 11.001 billion rubles. In H1 the group profits totaled 2.101 billion rubles (5.81 billion rubles in H1 2016). In January the group was able to refinance its consortium loan of 75.689 billion…

Russia: new cold-rolled sheet standard to be implemented in 2018

According to the Federal Agency on technical regulation and metrology (Rosstandart), the GOST R 52146-2003 “The cold-rolled sheet and cold-rolled dip-galvanized sheet with polymer coating from continuous lines. Technical conditions” has been terminated, and a new standard GOST 34180-2017 “Cold-rolled steel sheet and cold-rolled dip-galvanized sheet with polymer coating from continuous lines. Technical conditions” has…

Ukraine: VostGOK miners on strike

On August 16, Vostochniy Mining and Processing Works uranium miners went on a strike. The ore mining and salary payment were stopped three months ago because of the expiry of the license to use subsoil resources. The company received the license 20 years ago and now it has expired. But the State Service on geology…

Russia: Rosgeo starts exploration for gold and copper at new Khabarovsk field

Russian state geological exploration company Rosgeo has initiated exploration of gold and copper at a 121 square kilometer Yumtulsky prospective area in Russia’s easternmost Khabarovsk region through its subsidiary Dalgeophizika.

According to the company statement on August 16, it plans to finish the survey until the end of 2019. (Prime/Ukrainian metal)

Russia: Nornickel fund buys 5 tons of palladium in H1 2017

In January-June the Norilsk Nickel palladium investment fund Global Palladium purchased some 5 tons of metal (170 thousand troy ounces).

“The purchase volume in H2 will depend on the market situation”, the company CFO Sergey Malyshev reported.

According to him, the fund has been working quite actively, with revenue up 2-fold YoY. (Ukrainian metal)

Russia: Tagmet losses up in Q2 2017

In Q2 Taganrog Metal Works received 357.1 million of net losses, up from 58 million rubles in Q1. The combined losses of the company in H1 total 415 million rubles, up from 328 million rubles in H1 2016. In Q2 Tagmet revenue dropped by 9% QoQ, to 8.4 billion rubles. The combined revenue in H1…

Russia: steel structures output up in January-July 2017

In January-July Russia produced 2.4 million tons of steel structures and metal wares for construction, up by 11.8% YoY.

According to the Federal Service of State Statistics (Rosstat), in July output increased by 22.8% YoY, but dropped by 12.9% MoM. (Ukrainian metal)