In 2019, MMK Group’s financial contributions to charitable causes and social programs increased by almost 4% YoY, reaching 2.5 billion rubles. At the same time, the share of the plant itself in the group’s total volume of social and charitable expenses amounted to around 70%, totaling almost 1.8 billion rubles, 11.6% higher than in 2018.…
Russian metals giant Norilsk Nickel has suggested the government cover 50% of spending on 85-billion ruble renovation of housing in the city of Norilsk, and subsidize construction of ice-class ships and upgrade of port infrastructure. Sources said that the Industry and Trade Ministry had preliminarily approved the company’s request for state support, the majority of…
Gold reserves of the Russian precious metals producer Polymetal International went up by 6% YoY, to 23.7 million ounces of gold equivalent in accordance with the JORC Code, the company said in a statement on February 27. Ore reserves of the company increased by 5%, to 25.2 million ounces of gold equivalent due to geological…
Beloretsk Iron and Steel Works has been awarded the highest category of reliability in 2019 by one of the largest cable producers in Russia – Irkutskcable. Having analyzed product quality, loyalty, the quality management system and the terns of cooperation, Irkutskcable has awarded BMK with the highest category of reliability – A. Irkutskcable is one…
Metinvest-SMC is launching a program to grant metal buyers the right for deferred payment for 3 months. Lately banks have almost entirely stopped providing companies with loans. “In early 2020 the situation began to change, the National Bank is gradually decreasing the discount rate, and the devaluation expectations of banks have dropped, so they are…
Ukraine’s interagency commission on international trade has decided to impose a 50.09% antidumping duty on imports of steel wires and wire ropes from Russia for five years, according to a report posted in the government’s Uriadovyi Kurier newspaper on February 25. According to the law of Ukraine on the protection of national producers from dumping…
In 2019 Interpipe paid 3.25 billion UAH to budgets of all levels, up by 50% YoY. In particular, payments to state budget totaled some 2.167 billion UAH (+62%) and to local budgets – 625 million UAH (+38%). Moreover, the company transferred 462 million UAH (+21%) of single social payment. Interpipe taxes are enough to cover…
Russian metals giant Norilsk Nickel expects nickel demand to rise by 3%, to 2.538 million tons in 2020, the company said in a statement. “Primary nickel consumption is to increase by 85,000 tons (+3%), to 2.538 million tons in 2020. Primary nickel demand in Chinese stainless steel production is to amount to a moderate 2%…