Zagorsky Pipe Works ships large-diameter pipes for the construction of a gas pipeline on the territory of Uzbekistan and Tajikistan. The customer is Epsilon Development Company (Uzbekistan). According to an agreement, ZTZ has to supply 50 thousand tons of pipes. This was the first delivery to the company in both countries. The pipes will be…
In January Ukraine exported 3.96 million tons of iron ore raw materials valued at $284.33 million, up by 25.7% and by 21.2% YoY respectively. According to the State Tax Service, the main customers were China (49.11%), Poland (10.75%) and Austria (6.58%). Ukraine imported $28 thousand worth of iron ore raw materials from the Netherlands and…
In 2019, the economic impact of rationalization proposals implemented at Magnitogorsk Iron and Steel Works (MMK) amounted to 585.4 million rubles, up by 29% YoY. The importance of innovation in today’s global industry determines the need for companies to pay special attention to the development of rationalization and invention. In this regard, rationalization activities are…
The government can give the Russian Direct Investment Fund (RDIF) $1 billion from the National Wealth Fund on joint production with Middle East investors of platinum group of metals by Arctic Palladium. The project, to be launched in 2024, is a joint venture between Norilsk Nickel and Russian Platinum of businessman Musa Bazhayev. The beneficiary…
The former Karaganda foundry is being revived. The plant has been renamed to Qaz Carbon LLP. According to the plant’s management, the new factory has created new 1200 jobs. It is 100% Kazakhstan content. A large-scale modernization of the plant is still underway. Outdated equipment including coke cupola furnaces was replaced. New induction furnaces have…
Some products of the Belarusian steel mill BMZ have been exported to Poland via the Belarusian Universal Commodity Exchange (BUCE), the BUCE press service has reported. As much as 2,000 tons of steel reinforcing bars made by BMZ and worth EUR 731,000 were sold to Poland in two trade sessions (in December 2019 and January).…
Last week, the price of one ounce of gold decreased by 14.4 manats ($8.4) or by 0.5%. The average price of one ounce of gold stood at 2,663 manats ($1,566). The price of one ounce of silver dropped by 0.17 manats ($0.1) or by 5.7%, to 30.1 manats ($17.7). The price of one ounce of…
Russian gold producer Uzhuralzoloto Group of Companies (UGC) has closed an acquisition of a 28.34% stake in Petropavlovsk Plc from a subsidiary of AEON Corporation of businessman Roman Trotsenko, UGC said in a statement. “The stake consists of shares that account for 22.37% of the shareholder equity and of convertible bonds that account for 5.97%…
