Vorkutaugol has purchased licenses to develop two new blocks of Vorshagorskoye coal deposit with the combined reserves of 20 million tons. The block 43 has 19.4 million tons of rock and 9.1 million tons of coal. The company intends to start developing it in autumn of 2022. In 6 years the Vorshagorskaya mine will launch…
Metalloinvest is constructing a ball-rolling mill at Oskol Electrometallurgical Works. The mill will be able to produce some 43 thousand tons of milling balls with the diameter of 100-120 mm per year. Investments will amount to 1 billion rubles. 85 jobs will be created. The commission of the mill is scheduled for Q4 2020. (Ukrainian…
According to the results for the first half of 2019, the implementation of programs aimed at improving production efficiency at the Magnitogorsk Iron and Steel Works (MMK) has had an economic impact in excess of $38.3 million. As part of the strategic initiatives adopted in 2015 aimed at improving operational and functional efficiency, the MMK…
The net loss of IRC Ltd, the iron ore division of Petropavlovsk Plc, which runs gold deposits in Russia, widened by 60% YoY, to $25.224 million, the company said in a statement. The loss adjusted for one-time expenditures and the exchange rate-related loss stood at $8.219 million. Revenue grew by 27%, to $89.244 million, and…
In January-July Ukraine extracted 17.87 million tons of coal, down by 6.6% YoY. According to the Ministry of energy and coal industry, coking coal output dropped by 8.9%, to 3.299 million tons, and power-generating coal – by 6.1%, to 14.57 million tons. In July coal output decreased by 4.4%, to 2.529 million tons. Enterprises subordinate…
“Settlement of issues related to the Kumtor project may encourage foreign investors to provide additional resources for development of the mine,” Aigul Berdigulova, Analyst at the Economic Analysis Department of the Eurasian Development Bank, declared. According to her, entry into force of a strategic agreement between the Government of Kyrgyzstan and Centerra Gold brings certainty…
In June Russia exported 3.3 thousand tons of copper wire rod, down by 80% MoM and by 43.5% YoY. Deliveries to Kuwait dropped by 95%, to 439 tons, to Egypt – by 97%, to 60 tons, but to Belarus grew by 5%, to a third of the total volume. In 6 months copper wire rod…
In June Russia imported 4.1 thousand tons of zinc, up by 11.7% MoM and by 236.5% YoY. Deliveries from Kazakhstan grew by a third, to 3 thousand tons, and from Uzbekistan – by 7.4%, to 15%. In 6 months imports totaled 26.6 thousand tons, up by 286.4% YoY. In monetary terms since the start of…