Russia’s gold output rose by 3.8% YoY, to 81.27 tons in January-April, the Finance Ministry said quoting supplies to the refining plants. Mined gold output rose by 7.1%, to 65.87 tons, while by-product gold output decreased by 6.7%, to 5.6 tons, with gold scrap production down by 8.9%, to 9.8 tons. Russia’s silver output decreased…
Azovstal has invested 160 million UAH in the purchase of the fourth electric bridge crane for the converter shop. It has replaced the cargo crane No. 16. Earlier the company has invested 9.1 million UAH in the purchase of a new ARL iSpark 8860 spectrometer for its central chemical laboratory. (Ukrainian metal)
Metinvest is at the final stage of negotiations with the Black Sea Trade and Development Bank on a 7-year EUR 62-million loan, approved by the bank board. The group will use the funds to carry out its investment program and replenish working capital. The financing terms will be finalized when signing the documents. (Ukrainian metal)
Since the start of the washing season in Irkutsk region, Retkon has extracted 142.5 kg of alluvial gold, down by 18% YoY. The company is developing deposits in the Bodaybinsky district. Until the end of the year the company intends to extract 600 kg of alluvial gold. Last year, with the target of 550 kg,…
Acting CEO of Ferrexpo plc with assets in Ukraine Jim North has been appointed executive director with immediate effect. North joined Ferrexpo in November 2014, serving previously at London Mining plc, Rio Tinto and BHP. Chris Mawe will step down from the office of the financial director, when the transition process is set up. The…
Severniy Mining and Processing Works has invested over 40 million UAH in the installment of 8 thousand energy-saving LED-lamps at the crushing and processing factories. The new lamps are expected to save around 25 million UAH per year. Earlier under the modernization program, SevGOK decided to invest 3.1 billion UAH in 2020 in modernization and…
In June, the miners team Vitim, developing alluvial gold sites in Irkutsk region, extracted 302 kg of the precious metal. Since the start of the washing season, the enterprise has extracted 715 kg of gold, down by 19% YoY. This year Vitim intends to extract 2500 kg of gold. Thus, so far the target has…
In January-June, scrap deliveries to metal companies decreased by 22.5% YoY, to 1.308 million tons. In June, deliveries dropped by 34.4%, to 212 thousand tons. Despite decrease in deliveries, metal companies were provided with scrap at the level of 115.3% in June and 99.5% in H1. As of July 1, scrap stocks amounted to 110-115…