In 2019 Severstal invested 1.1 billion rubles in labor safety at Cherepovets Iron and Steel Works. In particular, the group has reconstructed premises in order to improve working condition and decrease risk of injuries. The reconstruction mostly concerned ventilation systems, conditioning, replacement of old lighting system and the assembly of railings. All in all there…
ArcelorMittal Temirtau has launched all of its three oxygen converters with the volume of 300 tons after repair. Now the shop operates at full capacity. The converter No. 2 started operating in early January, and then converter No. 1 was shut down for repair, which lasted for 100 days. Since February 9, the shop has…
In 2019, Evraz received $365 million of net profit, down by 85.2% YoY. EBITDA dropped by 31.1%, to $2.6 billion. Consolidated revenue fell by 7.3%, to $11.9 billion. At the same time capital investments increased by 44.6%, to $762 million. This year Evraz plans capital investments on the level of $900 million. Net debt as…
In 2019, MMK Group’s financial contributions to charitable causes and social programs increased by almost 4% YoY, reaching 2.5 billion rubles. At the same time, the share of the plant itself in the group’s total volume of social and charitable expenses amounted to around 70%, totaling almost 1.8 billion rubles, 11.6% higher than in 2018.…
Russian metals giant Norilsk Nickel has suggested the government cover 50% of spending on 85-billion ruble renovation of housing in the city of Norilsk, and subsidize construction of ice-class ships and upgrade of port infrastructure. Sources said that the Industry and Trade Ministry had preliminarily approved the company’s request for state support, the majority of…
Gold reserves of the Russian precious metals producer Polymetal International went up by 6% YoY, to 23.7 million ounces of gold equivalent in accordance with the JORC Code, the company said in a statement on February 27. Ore reserves of the company increased by 5%, to 25.2 million ounces of gold equivalent due to geological…
Beloretsk Iron and Steel Works has been awarded the highest category of reliability in 2019 by one of the largest cable producers in Russia – Irkutskcable. Having analyzed product quality, loyalty, the quality management system and the terns of cooperation, Irkutskcable has awarded BMK with the highest category of reliability – A. Irkutskcable is one…
Metinvest-SMC is launching a program to grant metal buyers the right for deferred payment for 3 months. Lately banks have almost entirely stopped providing companies with loans. “In early 2020 the situation began to change, the National Bank is gradually decreasing the discount rate, and the devaluation expectations of banks have dropped, so they are…