Russia: GV Gold output up in 2017

Gold output of GV Gold rose by 37% YoY, to 224,500 ounces in 2017, or 5% above the plan due to the launch of the Drazhnoye and Ugakhan deposits and a new dredging unit at the Bolshoi Kuranakh mine, the company said in a statement on February 5. The capacity of company’s processing facilities increased…

Russia: Vysochaishiy allowed to buy Renova gold assets

The Federal Antimonopoly Service has allowed Vysochaishiy to purchase 100% of the Mineraly Kamchatki LLC, which manages gold-extracting assets of Renova. The company manages Zoloto Kamchatki, Interminerals Management LLC, Kamchatka Copper Company LLC, Kamchatskoye Zoloto, Bystrinskaya Mining Company, Ametistovoye and Kamgold. Zoloto Kamchatki owns 9 licenses for gold deposits with the combined reserves of over…

Russia: Electrocable modernizing manufacture for strategic objects

Electrocable has received machinery to modernize manufacture of cable with low gas and fume emission (halogen-free). Its total cost exceeds 73 million rubles. “Today all the strategically important objects, including nuclear power plants, subway, oil and gas infrastructure, as well as hospitals, kindergartens and malls are equipped with fireproof cables. Halogen-free cables do not emit…

Russia: Severstal-Balakovo turns 10

Severstal Bar Works Balakovo is celebrating its 10-year anniversary. The project of construction was of the Greenfield category, as it was built from scratch. The employees of the key professions were trained at the Cherepovets Iron and Steel Works. At present the number of local employees at the works is 95%. The first rolled metal…

Russia: TMK pays off $231 million of Eurobonds

TMK, one of the world’s leading manufacturers of tubular products for the oil and gas industry, announces full redemption of the loan participation notes due in January in the total nominal value of $231 million on January 29. The $500-million eurobonds with a coupon rate of 7.75% and a 7-year maturity were issued by TMK…

Ukraine: SCM companies to pay 329 million UAH of dividends

Vesco, Druzhkovka Mine Group and Ogneupornerud, all controlled by System Capital Management, will jointly pay 329.023 million UAH of dividends for January 15 – July 31. In particular, Vesco will pay 224.21 million UAH, Druzhkovka Mine Group – 47.75 million UAH and Ogneupornerud – 57.05 million UAH. The corresponding decision was taken at the extraordinary…

Ukraine: AMKR holds the top spot in the list of major taxpayers of steelmaking industry

The State Fiscal Service of Ukraine announced TOP-100 major taxpayers of Ukraine in 2017, where PJSC ArcelorMittal Kriviy Rih took one of the leading positions Last year 100 major taxpayers increased their payments to the state budget by 21.6% YoY, to UAH 258.3 billion. PJSC ArcelorMittal Kriviy Rih took the first place among other Ukrainian…

Russia: VIZ-Stal output up in 2017

In 2017 VIZ-Stal increased output by 9%, to 161.6 thousand tons. Capacity loading remained high – 99%. Transformer rolled metal sales grew by 5%, to 160.9 thousand tons. The positive dynamics has to do with the restoration of the world demand for transformer steel and realization of projects aimed at improving product quality. Exports accounted…

Russia: UralKuz reaches maximum levels of output in January 2018

In January UralKuz reached a record-high volume of output – 11.5 thousand tons, the highest monthly result in the company history.

Railroad axles production increase contributed the most to the overall growth.

Last year UralKuz modernized one of its manufacturing lines. It can now produce 4 thousand tons of axle billets per month. (Ukrainian metal)

Tajikistan: KRL to mine gold at Pakrut

By the end of the year KrysoResourcesLImited (China) intends to have mined 207 kg of gold at the Pakrut deposits. Gold output is expected to increase to 1-1.5 tons per year. The company started developing Pakrut in 2012. Since then investments have totaled $180 million, and $76 million more are needed. At present the project…

Armenia: metal output in 2017

In 2017 Armenia increased metal output by 11.3% YoY, after the 11.1% drop in 2016. According to the National Statistics Service, in 2017 ferromolybdenum production grew by 1.1% YoY, to 6588 tons, with December 2017 output at 490 tons, down by 15.1% MoM. Molybdenum concentrate output increased by 2.8%, to 10961 tons, with 828 tons…