Magnitogorsk Iron & Steel Works (MMK) has started to co-finance projects implemented by the residents of MMK-Industrial Park in order to support and enhance business development in Magnitogorsk. MMK’s co-financing is provided on a competitive basis for the creation of new, or the expansion of existing, production. The share of co-financing amounts for up to…
Representatives of Obermeyer Consult, a German company, has visited Magnitogorsk. Following the tender results, the company was chosen to become the key designer of Attraction, a unique project for the development of the urban environment. The Attraction project, initiated by MMK’s Chairman of the Board of Directors Victor Rashnikov, aims to create and develop an…
Centerra Gold Inc. has agreed with the Government of the Kyrgyz Republic to further extend the First Longstop Date under the Strategic Agreement for Environmental Protection and Investment Promotion previously entered into with the Government on September 11, 2017. The First Longstop Date is the date by which all conditions precedent to the completion of…
In March, according to the customs statistics, Russia imported 63.5 thousand tons of galvanized rolled metal, up by 28% YoY. In January-March imports reached 139.1 thousand tons, down by 1.9% YoY. The main supplier is Kazakhstan – 50.2 thousand tons, down by 42.5%. The average price on the border with Russia in March was $707.8…
Baikalrud LLC, developing the Noion-Tolgoyskoye deposit in Zabaikalye region, intends to reach its design capacity of 3 million tons of ore by 2025. The enterprise will be producing 812.7 thousand tons of zinc concentrate and 624.6 thousand tons of lead concentrate per year. The capacity of the processing factory is 1 million tons of ore…
Raspadskaya mine has received new machinery. In particular, the fleet now has two EBZ-160 heading machines, two JOY winning machines as well as a Sandvik pneumatic-tyred tractor. The winning machines will be assembled at the new 4-6-35 and 5a-8-34 long faces. Investments in the new machinery exceeded 800 million rubles. (Ukrainian metal)
Severstal-Vtorchermet shop No. 3 specialists have completed a capital repair of the cabbaging press used to process scrap. The repair lasted for 45 days. The large-scale program of capital repairs to improve machinery safety started in early 2019. (Ukrainian metal)
The Arbitrary court of the Volgograd region has fully satisfied the claim of Rusmet LLC to the Krasniy Octyabr Iron and Steel Works. The latter will have to clear its debts on the raw materials supply agreements. In 2014 the companies concluded an agreement on the purchase of scrap. Later two more additional agreements were…