The Federal Antimonopoly Service has stopped investigation in Mechel, Severstal and Evraz alleged increase of rebars prices. Last summer constructors and machine-builders applied to FAS as to the drastic increase in metal prices, in particular, of rebars (by 34-103% from December 2015 till May 2016). The service started investigating the matter in July 2016, suspecting…
Evraz has paid some of its loans to a number of banks in Kazakhstan in advance. According to the group statement, it has cleared $120 million of its pre-export financing loan of $500 million, $81 million of the $125 million loan from Unicredit, and $87 of $100 million from Nordea. The Kazakhstan Bank on Development…
Evraz has postponed the sale of Evraz NMTP in Nakhodka. Novoport, one of the probable buyers of the port, offered $250 million. In late November 2016 Evraz started looking for buyers of a 100% stake in NMTP. A dozen buyers could purchase the asset, including companies from China and Kazakhstan. The main advantage that makes…
Miners at Yerunakovskaya-VIII have started extracting coal from the new 48-5 long face. Its reserves are estimated at 3 million tons of coking coal. The operation of the long face is expected to end in Q1 2018. The Yerunakovskaya-VIII mine extracts GZh grade coal from the depth of 470 meters. After it is processed at…
Evraz-holding intends to increase its share on Ukrainian coking coal market to 20%. According to the group statement, its share in 2016 reached 12%. The company increased exports to Ukraine by 42% YoY, to 2 million tons, and plans to increase them to 3 million tons in 2017. In 2015 the company revenues in Ukraine…
Taking into account the current market situation Evraz will not resume work on its Yuzhny stan (Southern Mill) project of the construction of a rolling mill in Rostov region. “We need some time to watch over the market situation, and in case there is an increase in demand in the southern regions, we might return…
U.K.-based mining giant Evraz, which operates mainly in Russia, expects its net debt to earnings before interest, taxes, depreciation and amortization (EBTIDA) ratio to fall to below 3x in January-June from 3.1x as of the end of 2016, president Alexander Frolov said in a conference call. Evraz’ dividend policy stipulates that the company may pay…
A new subsidiary of Evraz Metal Inprom has been opened in Yuzhno-Sakhalinsk. Its goal is to increase sales on the island and the company share in the region by 10%. Evraz ZSMK has already shipped the first rolled metal to Yuzhno-Sakhalinsk. The first steps to expand the company presence in the Far East were taken…
