Russia: NLMK shareholders approve FY2018 dividends

At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders approved the payment of FY2018 dividends of 22.81 rubles per share, or 102% of the company’s free cash flow according to NLMK Group’s consolidated statements prepared in accordance with IFRS. Considering the previously paid interim dividends, the amount outstanding to be paid…

Russia: NLMK shareholders elect new BoD

At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders voted to confirm Grigory Fedorishin as the group’s President and Chief Executive Officer; and to elect a new Board of Directors, with a majority of independent directors (five seats out of nine). Nine members of the Board of Directors were elected: Vladimir…

Ukraine: AMKU allows Metinvest to buy Dneprovsky Coke Plant

The Antimonopoly Committee of Ukraine has allowed Metinvest to buy over 50% shares of Dneprovsky By-Product Coke Plant. In particular, the AMKU decision says that Private Limited Liability Company Metinvest BV, the Netherlands, has been granted the right to purchase shares of the Dneprovsky Coke Plant, as a result of which the share of the…

Ukraine: Ukrkoks sees no threat in Russian sanctions

The mining and metallurgical complex of Ukraine expects no critical consequences from the new limitations of coal supplies to Ukraine, as well as imports of some metal products, including pipes. According to Ukrkoks CEO Anatoliy Starovoyt, limitations cover power-generating coal in the first place, and not coking coal. “So we see no special problem here.…

Russia: Kuzbass coal output up in Q1 2019

Since the start of the year, Kuzbass coal companies have extracted 60.8 million tons of coal, up by 1.2 million tons YoY. Open pits yielded 40.2 million tons, and mines – 20.6 million tons. Coking coal accounted for 19.2 million tons, and power-generating coal – 41.6 million tons. In March the region extracted 21.3 million…