Russia: Petropavlovsk to sell IRC

Gazprombank is looking for a strategic investor for the gold-extracting company Petropavlovsk to buy a share in IRC. According to a major Petropavlovsk shareholder Kenes Rakishev, who owns 22.42% in the company, a major steel company could be such an investor. He didn’t give any names though. At the same time the sale will be…

Russia: RIAK output to double in 2019

RIAK, the plant that produces aluminum sections in Ingushetia, intends to double its output volumes. “From November, the company will reach its planned capacity of 6600 tons per year, thus increasing its output 2-fold”, the company CEO Magomet Tumgoyev said. The plant was opened in 2012, and the second stage launched in April 2018. 80…