Russia: S&P improves TMK rating

S&P Global Ratings has improved the TMK rating to the Stable. The agency has also confirmed the company long-term ratings in foreign and local currency on the level of B+. “The Stable forecast shows our expectation of the company to continue making efforts to decrease the share of loan funds”, the agency said. According to…

Russia: BMK investment project to get tax preferences

The Republic of Bashkiria has granted tax preferences to 5 priority investment projects.

Among them is the “Organization of the multistrand ropes manufacture”.

Beloretsk Iron and Steel Works initiated the project.

Investments total 510 million rubles. 68 new jobs will be created. (Ukrainian metal)

Russia: Gaysky GOK finishes construction of new ore loading unit

Gaysky Mining and Processing Works is finishing the technical revamping of the sixth ore-loading unit at the processing factory.

This is the final stage of the work this year.

The factory processes some 29-30 thousand tons of ore per day.

Investments in the construction of the new unit total 24 million rubles. (Ukrainian metal)

Russia: Fitch downgrades outlook for ChelPipe’s BB- rating to Negative

Global rating agency Fitch has downgraded outlook for a BB- long-term issuer’s default rating of Russia’s Chelyabinsk Pipe-Rolling Plant, or ChelPipe, to Negative from Stable, it said in a statement. The Negative outlook reflects Fitch’s wariness about ChelPipe’s ability to reduce liabilities and the overall debt to funds from operations (FFO) ratio from 4x at…

Ukraine: ISD continues to control AMZ and Alchevskkoks in uncontrolled territory

Industrial Union of Donbas (ISD) Corporation is currently controlling its production assets in Alchevsk, Luhansk region, namely Alchevsk Iron and Steel Works, Alchevsk Coke Chemical Plant (Alchevskkoks) and PJSC Ecoenergy, located in the temporarily uncontrolled territory of Ukraine. “Due to different interpretations of ISD Corporation’s statement made on November 29, we believe it is necessary…

Ukraine: ISD officially reports on “significant risk” of losing control over AMZ and Alchevskkoks

Industrial Union of Donbas Corporation (ISD) has officially reported on a significant risk of losing effective managerial control over the production assets (industrial sites and office premises in Alchevsk, Luhansk region), including PJSC Alchevsk Iron and Steel Works, PJSC Alchevsk Coke Chemical Plant (Alchevskkoks) and PJSC Ecoenergy, which together constitute a significant part of the…

Kazakhstan: coal exports up in January-October 2017

In January-October Kazakhstan exported 23.4 million tons of coal, up by 13.6% YoY.

Output totaled 86.6 million tons, up by 11.6% YoY, or by 9 million tons. 61.8 million tons were supplied to the local market, with 45.9 million tons delivered to combined heat power plants and state district power plants. (Ukrainian metal)

Russia: Mikheyevsky GOK repairs the largest breaker in the country

Mikheyevsky Mining and Processing Works has completed repairs of the Superior MK 60-89 gyratory breaker with the capacity of 4 thousand tons of ore per hour.

This is the largest breaker in Russia.

The repairs were completed in just 36 hours instead of 120 as planned. (Ukrainian metal)

Ukraine: Corum builds fan unit at ZZhRK

Corum Group has finished the construction of the fan unit at the Expluatatsionnaya mine of the Zaporozhye Iron Ore Complex.

The unit has already received the certificate allowing it to be commissioned. The fan will be providing the mine with ventilation for some 35 years.

The new unit has replaced outdated centrifugal fans. (Ukrainian metal)