Kyrgyzstan not to suffer losses from Altyn-Ken

Kyrgyzstan should not bear losses from gold processing enterprise Altyn-Ken, the member of the Association of Mining Industry Duishenbek Kamchybekov said at a round table. According to him, the share of Kyrgyzstan from gold processing at this enterprise is 40%, and 60% is the share of the Chinese company. The enterprise was built to process…

Ukraine: Selidovugol to buy conveyors

The state enterprise Selidovugol has concluded two contracts with Contest System LLC on the delivery of conveyors valued at 101.6 million UAH. By April 2018 the “Ukraine” mine will have received 6 conveyors, produced by the Krasnoarmeysk works “Promyshlennoye oborudovaniye” LLC and “Company “Profit Invest” LLC. The volume of the transaction is just 0.1% below…

Russia: OMZ-Spetsstal appoints new CEO

Mikhail Ispolov has been appointed the CEO of OMZ-Spetsstal, and he would also work as the deputy manufacturing director of OMZ.

Ispolov replaced Serge Yeroshkin, who has been the OMZ-Spetstal CEO since 2012.

The new director will have to increase manufacture efficiency, decrease expenses and improve product quality. (Ukrainian metal)

Ukraine: coke output down in H1 2017

In January-June Ukraine produced 5.037 million tons of bulk coke, down by 22.5% YoY. In particular Avdiivka Coke and Chemical Works decreased output from 1.468 million tons to 1.272 million tons, Alchevsk Coke and Chemical Works – from 900 thousand tons to 125 thousand tons, Makeevkoks – from 503 thousand tons to 127 thousand tons,…

Ukraine: steel pipes output up in H1 2017

In January-June Ukraine produced 505.9 thousand tons of steel pipes, up by 27.46% YoY. Niko-Tube increased output from 95 thousand tons to 141 thousand tons, Nizhnedneprovsk Pipe-Rolling Works – from 74 thousand tons to 125 thousand tons. UTiST produced 1.4 thousand tons of pipes, up from 1.3 thousand tons, Centravis – 9.1 thousand tons, Khartsyzsk…

Russia: RUSAL suggests supporting industrial power consumers

Vladislav Solovyov, CEO of UC RUSAL, has suggested Economic Development Minister Maxim Oreshkin study a support program for large industrial power consumers that will stimulate industrial production and boost the gross domestic product (GDP). According to Solovyov’s calculations, industrial consumers pay for excessive power generation, grid capacities, and many types of cross-subsidization with the payments…

Russia: Vysochaishiy distributes 2016 profits

The management of the Vysochaishiy public joint-stock company has decided to distribute 6.378 billion rubles of net profit for 2016. 2.308 billion rubles will be sent to the development fund, of them 1.63 billion – for construction, 108.333 million rubles – for prospecting, and 1.793 billion – to cover losses of the previous years. 46.8…

Ukraine: Ogneupornerud fires CEO

The supervisory board of Ogneupornerud, controlled by the System Capital Management through its daughter company UMG, has fired the company director Evgeny Tsimarman. The decision on resignation was taken on June 26. Tsimarman’s office expired on June 30. The vacant position of the CEO has been taken by the chief engineer of Druzhkovka Mine Group,…