In 2019 Nordgold received $166.9 million of net profit, up 1.8-fold YoY. EBITDA grew by 42%, to $667.3 million. Revenue increased by 27%, to $1.448 billion, with the average sales price up by 10%, to $1399 per ounce. The company net debt decreased by 14%, to $791.9 million. (Ukrainian metal)
In January, Metinvest B.V. increased revenue by 5.5% MoM, to $821 million. EBITDA totaled $73, up by $112 million. Metal division revenue grew by 9.8%, to $681 million, mining division revenue was $234 million and inter-group sales – $94 million. Debts dropped by $5 million, to $3.032 billion. Metinvest received $38 million of profit from…
MMK-Metiz is commissioning a new continuous hot galvanizing line for wire with diameter of 1 to 4.5 mm. Under the program, to modernize galvanizing manufacture the company also intends to reconstruct its existing galvanizing line. A new cooling system will be installed. Moreover, the company plans to start producing zinc-coated wire with shiny surface. The…
Evraz has chosen the Titanium Valley special economic zone in Sverdlovsk region as a site for manufacture of railroad wheels. Evraz and Rail Service joint venture Allegro will manage the construction and the manufacture. Investments are estimated at 16 billion rubles. The capacity of the new shop will be 200 thousand railroad wheels per year…
A new CAT 390 FL excavator has started operating at the Ametistovoye Mining and Processing Works. It will increase rock mining by 20%. Zoloto Kamchatki has also purchased 9 new dump-trucks, including BELAZ quarry trucks. The company has 11 licenses to develop deposits with the combined reserves of 12.5 million troy ounces of gold. (Ukrainian…
NLMK Group, a global steel company, has launched a “virtual assistant” pilot: a digital service for real-time interaction with suppliers and optimization of standard supply chain operations. The virtual assistant, powered by QUBO dialogue system, is a chat-bot integrated in the corporate website. The assistant replies to questions received from suppliers about participation in procurement…
About 200 miners have been on strike in Tkibuli, western Georgia since March 13, demanding better working conditions and the pay for missed days. “We refuse to work in the mine, as the conditions are incompatible with our health and lives,” say the miners. Miners said that five of them were poisoned by gas that…
In January, Russia imported 13.6 thousand tons of ferrosilicomanganese, down by 4% MoM, but up by 9% YoY. Price dropped by 3%, to $921 per ton. Deliveries from Georgia increased by 39%, to 7.7 thousand tons, but from Kazakhstan went down by 29%, to 5.1 thousand tons, and from Norway – by 44%, to 835…