Mechel is mulling the sale of Elga coal complex as a part of planned debt restructure. The company has been negotiating with a potential buyer since January. So far, no legally binding agreements have been concluded. In late January, it was reported that Yota wanted to buy the Elga coal deposit from Mechel and Gazprombank.…
Due to the threat of the coronavirus infection (COVID-2019) spread and in line with the new provisions of Russian laws stipulating the possibility of holding Annual General Shareholders’ Meetings in 2020 by absentee voting, NLMK’s Board of Directors has resolved to hold the NLMK AGM on 2019 results on April 24 in the format of…
The net profit attributable to shareholders of the Russian metals and mining group Mechel dropped by 81%, to 2.409 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS). Consolidated revenue decreased by 5%, to 296.567 billion rubles, while earnings before interest, taxes, depreciation, and amortization (EBITDA) went down by 29%, to 53.428…
Imposition of a duty on Russian coal will have a positive impact on the Ukrainian coal industry, Acting Minister of Energy of Ukraine Vitaliy Shubin has said. “The government is taking steps to resolve the situation in the energy market. In particular, the Cabinet of Ministers adopted a resolution on the introduction of a special…
In January-February, Ukraine increased steel output by 0.4% YoY, to 3.553 million tons. Rolled metal output grew by 7.3%, to 1.68 million tons, but that of pig iron dropped by 4.6%, to 3.14 million tons. Iron ore concentrate manufacture increased by 3.4%, to 10.547 million tons, but that of sinter fell by 0.3%, to 5.137…
In January-February, by-product coke plants imported 1.31 million tons of coking coals and coal concentrate, down by 30% YoY. Deliveries of Ukrainian coal to domestic metal companies totaled 700 thousand tons, up by 53% YoY. By-product coke plants received 2.01 million tons of coal, down by 14%. The share of imported coal was 65.2%, down…
The Nordgold SE board of directors decided to sell the Zun-Kholba deposit in the Republic of Buryatia. The sale is expected to take place until the end of the year, and the company has already carried out negotiations with some buyers. As of December 31, 2019 the balance cost of the deposit was $25.1 million.…
According to its modernization program, Zaporizhstal has received two new railroad cranes with the lifting capacity of 25 and 80 tons. Investments in the purchase totaled some 62 million rubles. The new cranes will be used to load and unload technical cargo and raw materials, in construction, as well as capital and current repairs. At…
