Russia: Petropavlovsk gold output down in Q1 2018

In January-March Petropavlovsk Plc decreased gold output by 5% YoY, to 112.556 thousand ounces (3.5 tons). According to the company statement, gold sales dropped by 5%, to 112.244 thousand ounces. The average price grew by 4%, to $1295 per ounce. This year the company intends to obtain 420-460 thousand ounces of gold. Petropavlovsk Plc is…

Russia: Evraz Ukraine head transferred to Ural

Denis Novozhenov, who headed Evraz Ukraine, was appointed the director of the Ural division. “The division unites Nizhniy Tagil Iron and Steel Works and Kachkanarsky Mining and Processing Works. Novozhenov will continue developing Evraz assets in Sverdlovsk region according to the group strategy”, the company said. Novozhenov has been working at Evraz since 1996. This…

Russia: Amurmetal to turn into Amurstal

D-Steel (Italy) specialists have started working at the only steel works in the Far East – Amurmetal. According to the plant CEO Sergey Kuznetsov, soon the company will double rolled metal output and improve rebars characteristics. “The reconstruction of the bar-rolling shop will be carried out in several stages. The first stage will increase furnace…

Russia: Severstal-Metiz passes Sherdel Kaluga audit

Severstal-Metiz has passed the audit of its key client – the automobile components manufacturer Sherdel Kaluga.

Following the audit the company was granted the highest rating.

Such audits are carried every three years.

Severstal-Metiz wire is used to produce metal frames of cushions and seats. (Ukrainian metal)

Ukraine: Metinvest successfully completes largest ever refinancing by Ukrainian corporate

Metinvest, the vertically integrated steel and mining group of companies, has announced the completion of the refinancing of its $2.271-million debt, consisting of the issuance of two tranches of bonds and the amendment and restatement of its pre-export finance (PXF) facility. As a result, Metinvest issued $1.592 million in new bonds and secured $765 million…

Ukraine: Antimonopoly Committee prohibits Metinvest from buying Dneprodzerzhinsk Coke

Metinvest intends soon to eliminate all the claims from the Antimonopoly Committee of Ukraine to purchase Dneprodzerzhinsk By-Product Coke Plant. “We’re preparing an offer to the Committee, which will satisfy them and allow us getting the green light to buy the plant”, Metinvest CEO Yuri Ryzhenkov said. The official refuse was received in March. “There…

Russia: ChMK produces rebars for the first private zoological garden

Chelyabinsk Iron and Steel Works rolled metal is used to construct the open-air cages in the first private zoological garden in Russia in the city of Nizhny Novgorod.

In particular, ChMK rebars are used when constructing the cage with the pool for the polar bear.

Rolled metal was supplied by Mechel-Service. (Ukrainian metal)

Russia: NLMK revenue down in Q1 2018

NLMK Group revenue in Q1 declined by 1%, to $2.79 billion, but grew by 30% YoY, due to a seasonal drop in sales (-5% QoQ), which was offset by the growth in prices. EBITDA grew to $812 million (+3% QoQ), driven by the growth in steel prices and new operational efficiency programs. Q1 free cash…