The Commercial Court of Lugansk region has resumed the proceedings on the bankruptcy case against Alchevsk Iron and Steel Works. Earlier the court has received claims to the company amounting to 125 billion UAH. In particular, Margit Holdings Limited (connected with Russian VEB) claims 75.8 billion UAH, Indumet Limited – 28.9 billion UAH, Landmont Limited…
Kuzbassrazrezugol, a part of Ural Mining and Metallurgical Company (UMMC), has reduced the coal production guidance for 2019 to 47 million tons from 50 million tons, the company said citing CEO Sergei Paramonov. “The company continues to pursue an upgrade of facilities, raising investment every year. The annual coal production plan was adjusted due to…
The state enterprise Lvivugol has ordered OSK-Technology LLC the delivery of mining equipment valued at 30.87 million UAH. This year the Stepnaya mine will receive two 2L1000 conveyers with the length of 760 meters and the capacity of 719 tons per hour valued at 15.43 million UAH each. The company is the manufacturer of the…
According to Worldsteel, the global steel output in January-July grew by 4.57% YoY, to 1.084 billion tons. China traditionally occupies the first place with 577.06 million tons of steel produced, up by 9.01%. China accounts for 53.2% in the world steel output. As previously, Ukraine is on the 13th place with 12.72 million tons of…
Mariupol Ilyich Iron and Steel Works has constructed 2 energy efficient cooling towers. Investments in the project amounted to 55.1 million UAH. One of the towers cools water for the sheet-rolling shop-1700 and the cold-rolling shop. The second tower provides cold water for the oxygen shop. With the commission of the two towers the water…
PJSC Magnitogorsk Iron and Steel Works will hold a Capital Markets Day in London on November 15. At the CMD, Chairman Viktor Rashnikov, INED Morgan Ralph Tavakolian and the executive management team will discuss MMK’s progress against the Company’s strategy to 2025. The presenting team will include: Viktor Rashnikov, Chairman of the Board of Directors,…
The net profit of the Russian coal producer Raspadskaya, a part of the metals and mining group Evraz, fell by 6.2% YoY, to $211 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on August 28. Revenue went up by 5.8%, to $546 million in the period,…
Government of Kyrgyzstan has increased money receipts under a strategic agreement with Centerra Gold to $150 million, the Information Support Department of the Cabinet’s Office reported. The Prime Minister Mukhammedkaly Abylgaziev has held a meeting on the mechanisms of work of the Nature Development Fund and the Social Partnership for Regional Development Fund, created as…