Russia: HERGU gold output down

Since the start of the alluvial gold season HERGU has obtained 247 kg of the precious metal, down by 11% YoY. As of early August 2016, the company has obtained 278 kg of gold from its sites, with the same result in 2015. This year HERGU intends to get 700 kg of gold, down by…

Russia: Onexim sells 7% in RUSAL

Russian billionaire Mikhail Prokhorov’s Onexim Group is selling a 7% stake in aluminum giant UC RUSAL to a company affiliated with Sual Partners of Viktor Vekselberg and Leonard Blavatnik for $503.9 million, RUSAL said in a statement on August 11. At present, Onexim holds 13.7% in RUSAL and Sual Partners has a 15.8% stake. As…

Kazakhstan: copper mining works to be put into operation in 2017

GRK MLD LLC intends to put its copper concentrate and cathode mining and processing works in the East-Kazakhstan region into operation this year.

According to the regional department of entrepreneurship and industrial-innovative development, investments into the project total 17.4 billion tenge. The works capacity will be 750 thousand tons of ore per year. (Ukrainian metal)

Russia: VIZ-Stal energy consumption down in H1 2017

In January-June VIZ-Stal thanks to its energy efficiency improvement program decreased electricity consumption by 529 thousand kWh and of gas by 722.5 thousand cubic meters. This allowed the company to save 5.1 million rubles In particular, the company has finished modernization of two nitrogen-producing mills used in the thermal treatment of metal. The project will…

Russia: Krasniy Oktyabr constructing new processing line

The Volgograd Iron and Steel Works “Krasniy Oktyabr” is carrying out modernization of the manufacturing capacities at its rolled metal finishing shop. According to the company statement, a new metal processing line is being constructed there. The foundation for the PL-250 centerless turning machine and RL-250 two-roll straightener has been complete. The foundation will be…

Ukraine: EMSS ships 170 tons of rolls to Azovstal

Energomashspetsstal has produced and shipped another batch of rolls to Azovstal Iron and Steel Works.

The rolls will be used in bar rolling.

According to the contract, signed in April, EMSS has produced 24 working rolls for hot-rolling with the weight of 6-16 tons. The total weight of the batch is 170.72 tons. (Ukrainian metal)

Russia: Severstal reports of illegal use of brand

Severstal has learned of a fake electronic address:

This address sends out commercial offers to buy rolled metal at prices lower than current Severstal Distribution prices.

The company also reports of the phone calls with the same content.

At present Severstal is trying to terminate the illegal use of its trademark. (Ukrainian metal)

Russia: Mechel-Service supplies rebars for navy base construction

Mechel-Service has supplied 500 tons of rebars for the construction and modernization of the Novorossiysk military-navy base.

According to the company statement, the rebars for the new base have been manufactured at Chelyabinsk Iron and Steel Works. (Ukrainian metal)

Russia: metal imports up in H1 2017

In January-June Russia considerably increased imports of metal products. According to the Federal Customs Service, Russia imported 3.018 million tons of ferrous metals, up 1.6-fold YoY. Far foreign countries supplied 1.134 million tons, while CIS countries – 1.885 million tons (0.615 million and 1.238 million tons in 2016 respectively). Ferrous metals imports not taking into…

Russia: Evraz net profit up in H1 2017

In January-June Evraz increased net profit 12.3-fold YoY, to $86 million.

According to the company statement, its consolidated EBITDA grew 2-fold, to $1.152 billion, while consolidated revenue increased by 44.1%, to $5.1 billion.

Evraz’s net debt in H1 totaled $4.3 billion, down from $4.8 billion in late 2016. (Ukrainian metal)