Russian Mining Company created by Internet ombudsman Dmitry Marinichev and microelectronics producer Mikron’s President Boris Zyryanov plans to raise $100 million to invest in development of a processor for cryptocurrency miners, Marinichev said. Another founder of Russian Mining Company, founder of electronics retailer Sunrise Sergei Bobylev, said that the processor would make production of cryptocurrencies…Details
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Chervonograd city council has addressed the president, the prime minister and the minister of energy and coal industry informing them on the difficult situation of miners at the state enterprise Lvivugol and the salary payment problems. “The Lvivugol miners are facing a very difficult situation because of the unstable payment of salary. This situation has…Details
Avdiivka Coke and Chemical Works is modernizing the railroad station. Investments into the project total 24 million UAH. At present the power lines are being assembled for the Uglekoksovaya-1 railroad station equipment. (Ukrainian metal)Details
Dneprovsky Iron and Steel Combine has put its blast furnace No. 12 into operation. Thus the blast furnace shop now operates BFs No. 1M, 9 and 12. 4 sintering machines are now providing the shop with sinter. The converter shop continues manufacturing square billets. BF No. 9 was put into operation on August 1. (Ukrainian…Details
Corum Druzhkovka Machine-Buidling Works has produced an AM8D locomotive for KazChrome. According to the company statement, the machine will be operating at the chrome ore long face. This is the first delivery of such machinery to Kazakhstan in 3 years. “Kazakh mines, including those of chrome, need such locomotives. So our plan is to make…Details
Metalloinvest and Evraz have signed new long-term contracts for the supply of 3.4 million tons of iron ore and pellets. The contracts stipulate that Mikhailovsky GOK (a part of Metalloinvest) will have supplied Evraz with 1.6 million tons of pellets and 1.8 million tons of iron ore concentrate by June 30, 2018. Nazim Efendiev, First…Details
VSMPO-Avisma Corporation has signed several long-term agreements with Rolls-Royce for the period up to 2026. Terms and conditions of all agreements differ from each other. According to the terms of new agreements VSMPO-Avisma shall deliver rings, blisks and fan disks to Rolls-Royce for new jet engines. The expected revenue from the agreements will potentially exceed…Details
In January-July Ukraine imported 9.457 million tons of coal valued at $1.472 billion, up by 5.1% and by 85.9% YoY respectively, including $213.64 million in July. According to the State Fiscal Service, Russia supplied $762.006 million worth of coal (51.76%), USA – $378.469 million (25.71%), Canada – $116.185 million (7.89%) and other countries – $215.491…Details
Rusal has stopped supplying aluminum to the largest manufacturer of cast wheel disks in Russia – Kik LLC. According to the K&K Group of Companies CEO Sergey Kuklin, having purchased the Skad LLC, Rusal got an opportunity to enter the car disk market, the world volume of which is estimated at 300 million pieces a…Details
The Industrial Union of Donbass Corporation is still controlling the Alchevsk Iron and Steel Works, situated on the Russia-supported terrorist-occupied territory of Lugansk region. According to a source, after the cargo stopped crossing the demarcation line, the militants of the so-called Lugansk People’s Republic did not make any attempts to take over the enterprise. At…Details
In July Yuzhniy Mining and Processing Works produced 1.052 million tons of concentrate, up by 13.8% YoY. According to the company statement, its sinter output dropped by 33.3%, to 152.8 thousand tons. In January-July UGOK produced 7.133 million tons of concentrate and 1.046 million tons of sinter, up by 12.6% YoY and down by 8.9%…Details
In January-June Magnitogorsk Iron and Steel Works received $538 million of net profit, up by 10.7% YoY. According to the company statement, its EBITDA increased by 29.2%, to $907 million, earnings grew by 37.8%, to $3,586 billion. In 2016 MMK produced 12.5 million tons of steel, up by 2.5% YoY. (Ukrainian metal)Details
Stoilensky Mining and Processing Works (an NLMK Group company, core asset of NLMK Mining Division) has embarked on the implementation of a predictive management system for ore crushing and beneficiation processes. In the long run, this will enable an increase in the efficiency of the beneficiation equipment to 400,000 tons of concentrate per year. Twenty…Details