Russia: Mechel IFRS net profit up in Q1 2017

The net profit of Russian metals and mining group Mechel, attributable to shareholders, jumped to 13.902 billion rubles in January-March from 312 million rubles in the same period of 2016, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 31. Consolidated revenue increased by 24%, to 77.414 billion…

Russia: Rusal saves on electricity consumption

In January-April Rusal saved 25.56 million rubles by decreasing electricity consumption. The company is one of the developers and initiators of implementation of a new mechanism in electricity consumption in Russia and the only company to participate in the program of the price-dependant decrease of electricity consumption, having joined it in 2017. The mechanism presupposes…

Kyrgyzstan: gold bars of Kara-Balta refinery meet international standards

Gold bars of Kara-Balta refinery meet international standards. This is confirmed by a special LBMA certificate issued to the enterprise. As the press service of Kyrgyzaltyn OJSC reported, the refining plant has successfully passed certification according to LBMA standards (London Bullion Market Association). The document confirms that, since 2016, the production at the refinery has…

Russia: BMK provides Mechel with 5-year loan

Beloretsk Iron and Steel Works has provided its mother company Mechel with a 5-year loan of 1.35 billion rubles.

The companies do not disclose the conditions of the deal.

The goal of the loan is to carry out financial and commercial activity by Mechel. (Ukrainian metal)

Russia: RMK modernizing Karabashmed

Karabashmed, a part of the Russia Copper Company, has started assembling the new automated copper-pouring line and three new converters with the volume of 150 tons each. The modernization of the machinery will increase the company capacity to 150 thousand tons of copper per year. Karabashmed will also reconstruct its power shop and the oxygen…

Ukraine: AMKR invites to the corporate Learning Week

From June 12 tо 16, the corporate Learning Week will be held at ArcelorMittal University Campus in Ukraine. By tradition, it will consist of the great number of master classes, business games, training sessions and other developmental activities. This year the focus will be made on such aspects as personal growth, interaction with people, state-of-the-art…

Ukraine: coal output down in January-April 2017

Production of thermal and coking coal in Ukraine declined by 3.2% YoY in January-April, to 13.069 million tons, according to the Ukrainian Energy and Coal Industry Ministry’s press service. State-owned mines alone produced 1.673 million tons of coal or 12.8% of the total output over the period under review, while coal production at the state…