NLMK Group has announced its Q3 financial results. Revenue amounted to $2,576 million, down by 8% QoQ, with an EBITDA margin of 25%. Free cash flow totaled $249 million, down by 3%. NLMK Group CFO Shamil Kurmashov: “Q3 saw the situation on the steel markets aggravate due to a weakening in demand and the resulting…
At a meeting held on October 24 NLMK Group’s Board of Directors recommended the company’s shareholders to approve Q3 dividends of 3.22 rubles per share at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on December 20. This is approximately equivalent to 120% of the company’s free cash flow based on its IFRS…
Russian precious metals producer Polymetal International increased gold production by 25% YoY, to 1.005 million ounces, while silver output fell by 16%, to 16.4 million ounces in January-September. “Continued strong performance at Kyzyl is driving our production dynamics. We now expect to exceed our full-year production guidance (of 1.55 million ounces by up to 50,000…
In January-September gold output in Magadan region increased. In particular, as of October 1 the region has extracted 36.1 tons of gold, up by 6.3 tons YoY. Silver output totaled 492.8 tons. Tenkinsky City District mined the most ore gold – 14.5 tons. Alluvial gold accounted for 15.8 tons, with Yagodinsky City District yielding 6.2…
Zlatoust Electrometallurgical Works is carrying out a capital repair of one of its main technological machines of the first rolling cycle. The repair of the continuous heating furnace will last for 21 days and will be finished on November 3. The medium-section mill-400 produces wire rod and round sections with the diameter of 25 to…
On November 25 the Zaporizhstal shareholders meeting will approve of appointing Alexander Mironenko the new CEO of the company. Mironenko will replace Rostislav Shurma. Shurma has been chairing the company for the past 7 years, and have been working for Metinvest for 13 years. In early October local media spoke of the Metinvest supervisory board…
On October 29 miners from across Ukraine intend to hold a protest meeting in Kyiv. They demand to clear their salary debts of $47 million. As of October 21 the debts to miners have reached 1.172 billion UAH. Verkhovna Rada has already passed the amendments to the state budget at the first reading. But the…
In January-September Cherepovets Iron and Steel Works decreased energy resources consumption compared with the nine months of 2018. Thus, the company was able to save 156 million rubles. In particular, electricity consumption decreased by 17.6 million kW-h, fuel – by 12.5 thousand tons and oxygen – by 19.7 million cubic meters. Energy consumption at CherMK…