Alfa-Bank has reduced its stake in Russian precious metals producer Polymetal International by 0.03% to 4.98%, the bank said in a statement on June 11. The reason for the reduction was not disclosed. (Prime/Ukrainian metal)
“We must hear the government’s information about Kumtor before recess,” MP Kozhobek Ryspaev said at a meeting of the Parliament on June 12. According to him, there is a decree of the Parliament on monitoring the negotiations on a new agreement on Kumtor. Therefore, it is necessary to consider information of the government on the…
Velcom LLC, extracting gold on the territory of the Khabarovsk region, intends to obtain 50 kg of alluvial gold this season. Sands washing traditionally started in May. The company operates at one licensed site – the Bolin Brook deposit. So far 9 kg of gold has been extracted. Last year output was 60 kg. The…
Cherepovets Iron and Steel Works has assembled and put into operation an APR-650 coil-rewinding machine with the capacity of 650 thousand tons per year. The machine is scheduled to reach its design capacity in Q3. Over 30 jobs have been created. In May employees were trained by LDM (Italy) specialists. (Ukrainian metal)
Severstal shareholders have approved the payment of dividends for Q1 in the volume of 35.43 rubles per share, down by 7.5% YoY. The total amount of dividends will be 29.68 billion rubles, with Alexei Mordashov as the main shareholder (77.03%) accounting for 22.86 billion rubles. In Q1 2018 the company paid 38.32 rubles per share.…
Karelsky Okatysh is carrying out a number of projects to increase product quality. In particular, the company has assembled machinery for magnetic gravity separation. The technique will be tested in the concentrate and pellets manufacture. It is expected to increase iron content by 1.5% and decrease silicon content. Another project is to decrease pellets basicity.…
The department of the inner market protection of the Eurasian Economic Committee has published a report on the investigation of the imports of some types of rolled metal. Following the investigation the department suggests imposing a special protection measure in the form of a quota for a year to prevent considerable damage to the metal…
In H1 ChTPZ expects to sell over 900 thousand tons of pipe products. According to the pipe division CEO Boris Kovalenkov, the expected drop of revenue – to 88 billion rubles – will be compensated for in H2. Net debt to EBITDA ration will be 2.5-2.75. Last year ChTPZ pipe division enterprises sold 1.92 million…
