Russia: KSGOK borrows $240 million from Gazprombank

Kimkano-Sutarsky Mining and Processing Works has signed an agreement with Gazprombank on borrowing $240 million for 8 years. The funds will be spent to develop the Sutarskoye deposit in the Jewish Autonomous Region with the design capacity of 3.2 million tons of iron ore concentrate per year. KSGOK is developing two deposits with the consolidated…

Russia: KSGOK sales up in H1 2018

In January-June Kimkano-Sutarsky Mining and Processing Works LLC received $69.9 million from the sale of iron ore concentrate, up by 38.5% YoY. In particular, sales to China reached $46.4 million. EBITDA grew by 43%, to 11.8 million. In 6 months KSGOK sold 1.046 million tons of concentrate. 1.084 million tons were produced, up by 56%.…

Russia: KSGOK produces 180 thousand tons of iron ore concentrate in January 2018

In January Kimkano-Sutarsky Mining and Processing Works LLC produced 180 thousand tons of iron ore concentrate. Last year the company produced 2 million tons of iron ore concentrate and this year expects to increase output to 3.2 million tons. KSGOK is a part of IRC ltd. It was created on the basis of Kimkanskoye and…

Russia: Kimkano-Sutarsky GOK ships 1.5 million tons of iron ore concentrate

As of early December Kimkano-Sutarsky Mining and Processing Works has shipped 1.5 million tons of iron ore concentrate since the start of operation in 2016. In January-September the works shipped 1.167 million tons. In Q3 the company produced 469.9 thousand tons of iron ore concentrate. At present, according to the company CEO Yuri Makarov, KSGOK…

Russia: Kimkano-Sutarsky GOK iron ore concentrate up in January-September 2017

In Q3 Kimkano-Sutarsky Mining and Processing Works produced 469.9 thousand tons of iron ore concentrate, selling 453.6 thousand tons. In January-September output totaled 1.167 million tons, up 5.5-fold YoY. Sales in 9 months increased 4.8-fold, to 1.152 million tons. According to the company it is working at an 80% capacity. By late 2017 the capacity…

Russia: KSGOK ships 1 million tons of iron ore concentrate

Kimkano-Sutarsky Mining and Processing Works LLC since the start of its operations has shipped 1 million tons of iron ore concentrate. At present the daily loading is around 100 railroad cars, with 6 thousand tons of concentrate each. The products are exported to the Asian-Pacific countries. By late December the company will have reached the…