The Far East Development minister Alexander Galushka during his working trip to China has held a number of meetings with the local businesses. In particular, he held talks with the Minmetals Corporation. The corporation is eyeing the development of the Malmyzh copper-porphyry deposits in Khabarovsk region. The deposits reserves amount to 5.6 million tons of…Details
Smart Stahl GmbH (Austria) has purchased the movable property of the Liepājas metalurgs rolling shop. But it is believed that Dmitry Gerasimenko, owner of the Volgograd-based Krasniy Octyabr (Russia) could be behind the deal. He is a full owner of the Cyprus-based Segoa Ventures Limited, which owns Smart Stahl, created in April 2017. The sum…Details
Following the results of February, Ukraine dropped to the 12th position in the world steel manufacturers rating. According to Worldsteel, China traditionally occupies the 1st place with 64.93 million tons of steel, up by 5.9% YoY. Ukraine produced 1.9 million tons of steel, up by 11.2%, which was still not enough to overtake Italy (2.093…Details
In 2017 Dneprometiz increased its net profit by 79% YoY, to 58.292 million UAH. According to the company statement, its assets as of the end of 2017 totaled 714.885 million UAH, current liabilities – 533.483 million UAH and consolidated accounts receivable – 153.327 million UAH. In 2016 Dneprometiz received 34.73 million UAH of profit, as…Details
In February Chelyabinsk Iron and Steel Works decreased railroad sales of rolled steel by 8.1% YoY and by 13% MoM, to 260.3 thousand tons. In 2 months sales dropped by 1.5%, to 560 thousand tons. Delivery to local customers decreased by 6.5%, to 478.1 thousand tons, while exports jumped by 42.6%, to 81.6 thousand tons.…Details
Russia is ready for negotiations with the U.S. to cancel 25% steel and 10% aluminum imports duties, Deputy Industry and Trade Minister Viktor Yevtukhov declared on March 26. Yevtukhov also said that Russia was considering contesting the measure in the World Trade Organization (WTO) and retaliating. “The third process is a process of negotiations to…Details
Severstal will supply 600 tons of rolled metal with polymer coating for the construction of the Dream Island theme park in Moscow. The rolled metal manufactured by Cherepovets Iron and Steel Works will be used to produce sandwich-panels. The tender for their supply has been won by Severstal long-time partner – the company Teplant. The…Details
PJSC ArcelorMittal Kriviy Rih launches a new education project, which is the “Young Engineers” school. Its participants may be the employees’ children aged from 9 to 15 years. The learning program includes chemical and physical experiments, robotics technology, construction, master classes on work with wood and metal. When the young engineers will begin their exciting…Details
In 2017 the Kharkiv Works named after Frunze increased net profit by 30.31% YoY, to 69.6 million UAH. According to the company statement, its assets as of late 2017 totaled 567.436 million UAH. The company current liabilities were on the level of 118.799 million UAH, while the consolidated accounts receivable – on 99.935 million UAH.…Details
The gold-extracting company Pavlik, a part of Arlan, intends to have commissioned the second stage of the mining and processing works at the Pavlik deposits by late 2019. The project presupposes the construction of another gold-extracting factory on the basis of the existing works with the capacity of 5 million tons of ore per year.…Details
Dalzoloto LLC is busy prospecting at the Delken territory. The work started in 2016. In late 2018 the company intends to register at least 10 tons of C1+C2 gold reserves. Forecast resources total 31 tons of R1 gold. On another site the prospecting started in 2017 and is expected to end in 2022. The prospecting…Details
This year the Orotukan Alluvial Company LLC intends to obtain 300 kg of alluvial gold.
According to the company statement, the sand-washing season will start on May 1.
Last year the company obtained 296.6 kg of gold.
The company owns 11 licenses for alluvial gold sites in the Magadan region. (Ukrainian metal)
In 2017 the gold-extracting company Priisk Solovievskiy increased revenue by 12% YoY, to 6.605 billion rubles. EBITDA grew by 5.8%, to 2.769 billion rubles. Net profit totaled 2.231 billion rubles, up by 7.6% YoY. The increase of financial indexes has to do with the growth of the gold output. In particular, last year the company…Details
In January-February Ukraine decreased coal mining by 27.57% YoY, to 5.335 million tons. According to the Ministry of energy and coal industry, power-generating coal output dropped by 36.4%, to 3.96 million tons, while that of coking coal grew by 20.3%, to 1.374 million tons. In February coal mining decreased by 27.8% YoY, to 2.676 million…Details
Zabaykalye region intends to implement a pilot project of granting individual entrepreneurs patents to extract gold at lesser deposits and alluvial sites.
The project will solve the problem of illegal extraction of gold in the region.
The entrepreneurs will be given small sites, rejected by major companies. (Ukrainian metal)
The development of the Tekhutskoye mine has not been stopped, it has just been suspended, and the operation will start in late 2018 – early 2019. The program to develop the copper-molybdenum deposits was approved by the government in November 2007. The deposit is the second largest in the country as to copper reserves after…Details
In January-February Kirov Non-Ferrous Metals Processing Works increased the output of copper sheet by 40% YoY. The output started growing in H2 2017, increasing by 24% YoY. The increase has to do with the growth of demand from various local companies due to their modernization. In January the works commissioned a new plate manufacturing line.…Details
A new arc furnace with the volume of 12 tons will start operating in April at ZEMZ. Its capacity is 27 thousand tons of steel per year. Previously the company operated only 2 furnaces, which provided the combined output of 3800 tons of liquid steel per month. The commissioning of another furnace will increase output…Details
Norilsk Nickel has started replacing bridge cranes in the nickel electrolysis shop of Kola Iron and Steel Works. It is planned to assemble 8 new bridge cranes with the cost of some 200 million rubles. The maximum lifting capacity of each new crane will be 20 tons. The replacement of cranes is one stage of…Details
In 2017 Dneprospetsstal received 53.677 million UAH. According to the company statement, the cost of its assets increased by 33.7% YoY, to 7.945 billion UAH, while its accounts receivable grew by 15.7%, to 1.55 billion UAH. The company fixed liabilities decreased by 41%, to 1.644 billion UAH, while current – increased by 60%, to 4.9…Details
The largest open-hearth furnace in Russia has been shut down at Vyksa Iron and Steel Works, a part of OMK. The technology became obsolete, and the company will switch to new techniques. “The shutting down of the open-hearth furnace manufacture will decrease air pollution by 90%. All the workers of the closed shop will be…Details
Russian metals producers can sustain at least $2 billion losses from a 25% U.S. import duty on steel and about $1 billion from a 10% aluminum duty, Deputy Industry and Trade Minister Viktor Yevtukhov declared. “Concerning the losses of our companies, tentative estimates show at least $2 billion from the steel duty and $1 billion…Details
PJSC ArcelorMittal Kriviy Rih, the biggest steel company of Ukraine, has announced its financial results for 2017. Key financial results are as follows: Net income from sales – $2.489 billion (UAH 66.19 billion). Net profit – $0.19 billion (UAH 5.06 billion). Amount of investments (CAPEX and OPEX) – $0.338 billion (UAH 9 billion). In recent…Details
In 2017 Energomashspetsstal received 930.56 million UAH of losses, down by 38% YoY. According to the company information, since the beginning of the current year its uncovered losses totaled 7.89 billion UAH (7.013 billion UAH in 2017). In 2016 EMSS decreased losses 2-fold YoY, to 1.498 billion UAH. Last year the company assets dropped slightly…Details
On March 22 the arc furnace No. 1 was put into operation. Now the steel manufacture of Belarus Iron and Steel Works operates in normal mode with 3 furnaces. On March 12 repairs at the arc furnace No. 3 were completed. The repairmen were able to finish the work 3 days earlier. On March 17…Details
Mine named after Matrosov, a part of Polyus, plans this year to mine 5 tons of gold at the Natalkinskoye deposits in Magadan region. When the project reaches its full capacity, the output will total 12 tons per year. Together with other enterprises, Natalka could bring the combines gold output of the region to 40…Details