Ural Mining-Metallurgical Company intends in 7 years to construct and put into operation a mine in the Republic of Bashkortostan. Investments in the Podolsky mine will reach 54 billion rubles. According to UGMK CEO Andrei Kozitsyn, a financing agreement has been signed with Sberbank. The funds will be invested in the construction of the infrastructure,…
The Bank Otkrytie has provided the Ural Mining-Metallurgical Company with financing in the volume of 15 billion rubles until October 2021. The funds will be spent to refinance current loan obligations and cover operational expenses. “This financing will let UMMC increase business volumes, including by investing in its own development”, the bank said. “The loan…
The bank Otkrytie has provided the Ural Mining-Metallurgical Company with a financing in the volume of 15 billion rubles to be returned in October 2021. The funds will be spent to refinance the current loan obligations and cover operational expenses. “The financing from the bank Otkrytie will allow UMMC to increase business volumes, including by…
This year Ural Mining-Metallurgical Company intends to improve output. In particular, it expects to produce 390-400 thousand tons of cathode copper. In H1 the company produced 190-200 thousand tons. Zinc output is forecast on the level of 280 thousand tons, ferrous metals – 1 million tons, and coal – 45-46 million tons. (Ukrainian metal)
Ural Mining and Metallurgical Company is carrying out operation at the Khopra sulfide-nickel deposits in Voronezh region. The prospecting work has been completed, and now the company is preparing the necessary documents. The process is expected to wrap up by 2020. According to the company statement, preliminary estimations show that the construction of a mining…
The Ural Mining and Metallurgical Company intends to increase copper output to 380 thousand tons per year in 3-5 years. According to the UMMC CEO Andrey Kositsyn, in 2016 the company output dropped by 5% YoY, to 350 thousand tons, or some 40% of all the copper production in Russia. The reason is the decrease…
Uralelectromed, a part of UMMC, has acquired 41.75% of the Malyshevskoye Mine Group. According to the company statement, in September the Federal Antimonopoly Service allowed it to buy 100% of shares. The share of the MRU feldspar concentrates on the Russian market is 25-27%, and of mica concentrates – 80-85%. In 2015 Malyshevskoye Mine Group…
Ural Mining-Metallurgical Company has announced the merger of Electrocabel works and Kolchugino Non-Ferrous Metals Works. After all the legal procedures Kolchugtsvetmet will be managed by Cable Alliance, Electrocabel being a part of which. This decision was taken in view of the expansion of the cable business and the realization of the global program of Electrocabel…