Russia: Mechel stripped of 2 iron ore licenses

Because of high debts and lack of funds for development Mechel has lost licenses to develop Pionerskoye and Sivaglinskoye iron ore deposits in Yakutia with combined reserves of over 160 million tons. In December 2019, the Russian Subsoil Use Service stopped Mechel’s right to use the deposits ahead of schedule. The company has not fulfilled…

Russia: Mechel net profit up in 2019

In 2019, Mechel increased net profit by 25% YoY, to 5.33 billion rubles. In 2016, profit was 15 billion rubles, while in 2014 the company saw a loss of 3 billion rubles. Revenue dropped by 9%, to 112.99 billion rubles. Sales profit decreased from 13 billion rubles to 3 billion rubles. (Ukrainian metal)


Russia: Mechel IFRS net profit down in 2019

The net profit attributable to shareholders of the Russian metals and mining group Mechel dropped by 81%, to 2.409 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS). Consolidated revenue decreased by 5%, to 296.567 billion rubles, while earnings before interest, taxes, depreciation, and amortization (EBITDA) went down by 29%, to 53.428…

Russia: Mechel sales down in 2019

In 2019, following a large-scale reconstruction in the blast furnace and oxygen-converter shops, Chelyabinsk Iron and Steel Works decreased pig iron output by 8% and steel by 7% YoY. Bars sales dropped by 8%, while shapes grew by 2% and rails – by 15%. Mechel rails sales, without deliveries to RZD and for exports, increased…

Russia: Mechel shares grow by 8%

Mechel ordinary shares have grown in price by 8.47% at the Moscow Stock Exchange. The cost of a share was 93.77 rubles, with the peak at 94.3 rubles. In the first days of the Stock Exchange operation in January, Mechel shares became 60% more expensive – 99.6 rubles on January 8 as opposed to 63.14…

Russia: Mechel shares price growing

On January 8 the price of ordinary shares of Mechel increased by 30.8%, to 99.8 rubles. Premium shares became 28.85% more expensive – 114.8 rubles. The highest price of the ordinary shares was 104 rubles, up by 64% from the final trades of 2019, and of premium shares – 123.6 rubles, up by 38.7%. (Ukrainian…