Despite the war with Russia, state mines continue increasing output. Thus, while in January coal output totaled 178 thousand tons, in February it grew by 8.2%, to 194 thousand tons. According to the Ministry of Energy, in the beginning of the full-scale Russian invasion in March 2022 coal output was 173 thousand per month and…
The U. S. Department of Commerce has announced final results of reviewing antidumping duty on rebars from 7 countries: Ukraine, Belarus, China, Indonesia, Latvia, Moldova and Poland. The department found out that cancellation of the duty would result in dumping. The duty for Ukraine was set at 41.69%, for Poland – 52.07%, for Latvia –…
The United Mining and Chemical Company JSC losses amounted to 311.6 million UAH ($8.2 million) in 2023, down from a profit of 163.1 million UAH ($4.5 million) a year earlier. Net loss was 481.3 million UAH ($12.7 million). Undistributed profit (uncovered loss) totaled minus 651.428 thousand UAH, up by 298.36%. Gross income dropped by 20%.…
The State Committee for National Security of Kyrgyzstan announced detention of the heads of commercial firms controlled by a crime boss Kamchybek Asanbek (Kamchi Kolbaev), which provided catering services at Kumtor mine. In connection with the detention, Kumtor Gold Company CJSC commented that Grand Electronics Staff LLC was hired to provide services during the period…
Romania would not have to pay any compensation to the Canadian mining company Gabriel Resources for stopping the gold mining project at Rosia Montana, the International Center for Settlement of Investment Disputes in Washington (ICSID) decided on March 8. Romania’s Government issued a statement confirming the outcome of the case on March 9. The verdict,…
In 2024, Ukraine could increase steel manufacture to 7-8 million tons from 6.2 million tons in 2023, experts say. According to Denis Sakva, Dragon Capital senior analyst, at present the remaining Ukrainian enterprises can produce 11-12 million tons of steel per year. Thus, the last year output of 6.3 million tons is slightly higher than…
The World Bank International Centre for Settlement of Investment Disputes (ICSID) has informed Romania and Gabriel Resources that it expects to render its Award on the litigation related to the Rosia Montana gold mining project on March 8. Romania’s finance minister, Marcel Bolos, admitted that the ruling, if monetary, would certainly impact the budget deficit…
Polymetal shareholders have supported selling Russian assets. In February, it became known that Polymetal had agreed to sell its Russian part of business to Mangazeya for $3.69 billion. The latter will receive 100% of Polymetal JSC. The deal is expected to be closed until the end of March. Polymetal has also demanded that until the…
