The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…
ArcelorMittal Temirtau has received new machinery for its converter shop continuous casting machines Nos. 1 and 2. The new equipment – segments, crystallizers and benders – was purchased in Italy from Danieli under an investment project. “This project will improve the working conditions of both machines and the quality of the billets”, the company said.…
An expert commission has finished evaluating the assets of Ufaleinickel. The company went bankrupt some 18 months ago. The auction could be held in summer. The combined cost of the lots is around 1 billion rubles. Two investors are already mulling the purchase of the works. (Ukrainian metal)
The arbitrary court of the Volgograd region has prolonged the bankruptcy proceedings at the Krasniy Octyabr works from February 10 for 4 months. Thus, the petition of the proceedings manager Alexander Lyubimenko has been partially met. He claimed the enterprise received assets valued at 487 billion rubles – 854 ordinary shares. Now they need to…
NLMK-Kaluga has started producing a new type of metal for construction – 100 mm-long channels with parallel sides. A batch of 3 thousand tons has been shipped to customers in the Central Federal District. Imports in the segment in 2018 reached 32%, up by 6% YoY. (Ukrainian metal)
Chelyabinsk Pipe Rolling Plant has provided a loan of 1.14 billion rubles to a company it controls – Meta. The agreement was signed on February 5. The funds have to be returned not later than on June 30, 2020. Meta provides ChTPZ with scrap. (Ukrainian metal)
Gold producer Nordgold, controlled by the Russian tycoon Alexei Mordashov, plans to invest more than $360 million over the next 15 years in development of the Lefa mine in the Republic of Guinea. “Nordgold is pleased to announce that a new mining permit will be effective starting from March 21. The new permit as well…
In 2018, demand for steel continued to recover, coupled with a rise in protectionism in key markets. “In this context, NLMK Group’s flexible business model that helped it secure its presence in key sales markets, enabled the company to grow its sales by 7% YoY, or by 1.1 million tons, to 17.6 million tons, hitting…
