Russia: Usmanov yields MGOK shares to Sberbank

Sberbank Investments has concluded a deal with Mikhailovsky Mining and Processing Works, having received 10% of the enterprise shares as a partial clearing of debts.

The share of Lebedinsky GOK decreased to 89.32%. Through it USM Holdings of Alisher Usmanov controls MGOK.

USM Holdings also controls 100% of Metalloinvest shares. (Ukrainian metal)

Russia: Vorkutaugol coal output down in H1 2018

In January-June one of the largest coalmining companies of Russia – Vorkutaugol – decreased output by 10% YoY, to 4 million tons. The decrease is the result of the scheduled works at the Vorkutinskaya, Zapolyarnaya, Komsomolskaya and Vorgashorskaya mines. Metallurgic coal output grew 3-fold, to 80 thousand tons. Its reserves are situated at the Vorgashorskoye…

Kyrgyzstan: $30 million to revive Makmal

Kyrgyzaltyn OJSC conducts consultations with the population of Toguz-Toro district. People are being persuaded that it is necessary to create a joint venture with a foreign investor at Makmal mine. Only this can extend its life and provide people with stable work. Deputy Chairman of Kyrgyzaltyn OJSC Nurdin Kanymbetov explained the peculiarities of the project.…

Tajikistan: cooperation with Azerbaijan in aluminum production interesting

Tajikistan is very interested in close cooperation with Azerbaijan in the production and further export of aluminum, the Minister of Economic Development and Trade of Tajikistan Nematullo Hikmatullozoda declared.

In particular, Tajikistan is interested in using the transit potential of Azerbaijan for the export of Tajik aluminum, Hikmatullozoda added. (Trend/Ukrainian metal)

Russia: Primorskugol net profit up in 2017

Last year Primorskugol LLC received 871 million rubles of net profit, up 5-fold YoY (163 million rubles).

In 2015 the company net profit reached 1.27 billion rubles.

Revenue in 2017 grew by 21% YoY, to 6.304 billion rubles.

Coal output increased by 4.5%, to 3.6 million tons. (Ukrainian metal)

Russia: EZOTsM developing new products for car manufacturers

In 2018 Yekaterinburg Non-Ferrous Metals Processing Works will continue developing new types of products for Russian and foreign car and electronics manufacturers. Some products will be unique for Russia. In particular the company is developing the wire and electrodes of iridium and its alloys. The company is also working on the thermocouple wire made of…

Russia: Putin plans no meetings with metals firms on new taxes yet

Russia’s president Vladimir Putin does not plan an extraordinary meeting with business representatives to discuss the situation in the industry, presidential spokesman Dmitry Peskov reported. “No such meetings have been scheduled yet because the president has not approved any decision. The president agreed that the issue should be considered by the government’s experts,” he said.…

Ukraine: more coal purchased from the aggressor

Ukraine increases coal purchasing from Russia despite the public anti-Russian mood of the high-rank officials. In January-June Russia accounted for 63% of coal supplies to Ukraine, the largest volume in the past 4 years. The share of coal in the overall imports reached 6%, while Ukraine has 4% of the world coal reserves. This year…