Russia: Mangazeya Mining gold output down in 2017

In 2017 Mangazeya Mining Ltd LLC produced 24.3 thousand ounces of gold, down by 11.2% YoY.

The main reason of the drop is the low gold contents in the ore.

Ore mining grew by 2.7%, to 951 thousand tons.

Last year gold sales totaled 24.1 thousand ounces, down by 12.3% YoY. (Ukrainian metal)

Ukraine: UGOK sinter output up in April 2018

In April Yuzhniy Mining and Processing Works produced 1000.3 thousand tons of concentrate, down by 0.1% YoY. According to the company statement, sinter output increased by 7%, to 133.5 thousand tons. In January-April UGOK concentrate output dropped by 0.7% YoY, to 4012.3 thousand tons, while sinter manufacture grew by 13.8%, to 654.9 thousand tons. (Ukrainian…

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Russia: MMK IFRS net profit up in Q1 2018

The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) rose by 15.8% YoY, to $279 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on May 8.

Revenue increased by 23.8%, to $2.055 billion, while EBITDA grew by 23.9%, to $560 million. (Prime/Ukrainian metal)

Russia: coal mining up in April 2018

In April Russia mined 35.32 million tons of coal, up by 5.8% YoY, while exports increased by 0.7%, to 15.34 million tons. Deliveries to the domestic market grew by 17.5%, to 15.1 million tons. Imports dropped by 12.7% YoY, to 1.58 million tons. SUEK mined 9.2 million tons of coal, down by 1.2%, Kuzbassrazrezugol –…

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Russia: HGM gold output down in Q1 2018

In January-March Highland Gold Mining Limited obtained 59.31 thousand ounces of gold and gold equivalent, down by 9% YoY. This year the company intends to yield 265-275 thousand ounces of gold equivalent. Average gold price in Q1 was $1329 per ounce. Last year gold output at HGM enterprises grew by 4.3% YoY, to 272.3 thousand…

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Ukraine: ferrous metals export revenue up in January-April 2018

In January-April Ukraine increased ferrous metals export revenue by 32.1% YoY, to $3.49 billion. According to the State Fiscal Service, ferrous metals accounted for 22.57% of the total export earnings as opposed to 19.26% in January-April 2017. In particular, in April ferrous metals export revenue totaled $904.1 million. In January-April Ukraine imported $385.37 million worth…

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Ukraine: coal imports up in January-April 2018

In January-April Ukraine imported 7.437 million tons of coal valued at $1.004 billion, up by 53.9% and by 30.3% YoY respectively. According to the State Fiscal Service, Russia supplied $643.58 million worth of coal (64.08% in the total imports), USA – $288.411 million (28.72%), Canada – $48.365 million (4.82%), and other countries – $24.003 million…

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Russia: Severstal to supply 170 thousand tons of metal to household appliances makers

This year Severstal intends to supply over 170 thousand tons of metal to the manufacturers of refrigerators, washing machines, gas ovens and industrial packaging. The deliveries will be carried out within contracts signed with enterprises both in Russia and the nearby foreign countries. For the packaging producers Severstal manufactures cold-rolled metal with improved strength characteristics.…

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Ukraine: AMKR agreement on reconciliation commission for settling collective labor dispute signed

Following almost 26 hours of discussion, the representatives of the employer PJSC ArcelorMittal Kriviy Rih and labor collective, despite of disagreements, reached an agreement to create reconciliation commission for settling collective labor dispute, which was registered earlier with the order of National Mediation and Conciliation Service in Dnipropetrovsk region. The parties have agreed to delegate…

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