Russia: Polyus to increase gold output

Polyus has published its forecast for 2017-2019. Since 2013 the company has increased gold output by 19%, to 1968 thousand ounces. According to the results of Q1, the company confirms its forecast for this year of 2.075-2.125 million ounces of gold. In 2018 the output will increase to 2.35-2.4 million ounces, and in 2019 –…

Russia: Izhstal repairs EAF

Izhstal has finished capital repairs of its electric arc furnace, which produces alloyed, stainless and speed steels. “The EAF-25 produces the most profitable products. So we pay special attention to the conditions of the furnace. The repair will provide for the faultless operation of the furnace and decrease energy consumption and refractory materials usage”, the…

Russia: Sberbank and Severstal to collaborate on using blockchain technology

Sberbank and Severstal, the vertically integrated mining and metallurgical company, have announced collaboration in technological innovation. This year at the 11th St. Petersburg International Economic Forum Severstal and Sberbank presented their latest prototype, which would enable the secure transfer of international letters of credit using blockchain technology. During the demonstration, the companies tested the prototype…

Ukraine: Yuzhniy port to buy steel rope from Yuzhmetiz

The state enterprise Sea trade port Yuzhniy has chosen Yuzhmetiz LLC the supplier of steel ropes valued at almost 3 million UAH.

The company was created in 2001 and started participating in state tenders in 2009.

Another contender was the private firm Oriya. (Ukrainian metal)

Russia: CherMK completes sheet shop repair

Cherepovets Iron and Steel Works has finished repairs in the sheet-rolling shop valued at 10.8 million rubles.

In particular roll ovens No. 1 and 2 have been repaired. The overhaul was carried out by the specialists in 4 days.

Some 40 employees were involved in the work. (Ukrainian metal)

Russia: Renova Group seeks control over Petropavlovsk

Multi-industry holding Renova Group of businessman Viktor Vekselberg will endeavor to obtain control over Petropavlovsk Plc, which operates gold deposits in Russia and in which Renova holds a 22.34% share stake and a 6.88% convertible bond stake. Renova and friendly funds Sothic Capital Management and M&G Debt Opportunities, part of Prudential, jointly holding about 40%…

Russia: TMK places 10 billion rubles of bonds

Pipe Metallurgical Company has placed BO-07 bonds valued at 10 billion rubles (10 million shares at 1 thousand rubles each).

The interest rate is 9.35%.

The circulation period is 10 years, with a 4-year option.

The organizers were ATON, Alfa-Bank, BCS Global Markets, VTB Capital, Sovcombank and UniCredit Bank. (Ukrainian metal)

Ukraine: Metinvest secures new financing facility in equipment leasing deal

According to Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies, following the successful debt restructuring completed in March, one of its subsidiaries has secured a new financing facility as part of an equipment leasing agreement. Ingulets GOK, one of the group’s key iron ore producers, has agreed to…

Ukraine: DSS closes its Moscow office

Dneprospetsstal has closed its office in Moscow. The decision has been taken by the company supervisory board.

“The office will be closed due to the economical inexpediency of its further operation”, the company said.

The office was a representative and the protector of DSS trade interests in Russia. (Ukrainian metal)

Ukraine: EMSS to fulfill BHEL order

Energomashspetsstal has signed a contract to produce and delivery machinery for Bharat Heavy Electrical Limited.

According to the agreement, EMSS will produce 3 turbine generator rotors of low pressure.

The total weight of the machinery is 197.7 tons.

The delivery to the Indian city of Haridwar is scheduled for Q4 2017. (Ukrainian metal)

Russia: metal suppliers to discuss cooperation with structures works

On June 7 the Russian union of metal suppliers together with the Association of steel construction development will hold a round table “Development of cooperation of metal structures manufacturers and metal suppliers” within the II international specialized exhibition Metal Structures’2017. In the course of the event its participants will discuss the cooperation in delivery of…

Russia: NLMK shareholders reelect president

Shareholders of NLMK Group at its Annual General Meeting on June 2 voted to confirm Oleg Bagrin as the Group’s President and Chief Executive Officer; and to elect a new Board of Directors, which includes five independent directors. Nine members of the Board of Directors were elected, including five independent directors: Vladimir Lisin, Oleg Bagrin,…