Gold output on the Urup Island of Russia’s Kuril Islands fell by 9.1% YoY, to 1,530 tons in 2016 because of difficult logistics and operations on the uninhabited island, local precious metals producer Kurilgeo said in a statement on April 14. Revenue from the sales of gold rose by 6% YoY, to 4.07 billion rubles…
DetailsDTEK energy holding buys 600,000 tons of coal in South Africa, the company’s press service has reported. “DTEK confirms the purchase of 600,000 tons of coal from South Africa with the option to increase to 1 million tons. The arrival of the first vessel with 75,000 tons of anthracite to Ukraine is expected in June.…
DetailsChina Nonferrous Gold Limited, the mineral exploration and mining company currently mining the Pakrut Gold Project in Tajikistan, intends to invest additional $70 million in the development of the deposit. According to the State Committee on Investment and State-owned Property Management of Tajikistan (GosKomInvest), an agreement on development of the Pakrut Gold Project in the…
DetailsKramatorsk Ferroalloys Works had to stop manufacturing process because of the ban to transport cargo through the demarcation zone. The company had to take measures to decrease expenses during the time of idleness. “The prospects of development and modernization of the company under such conditions do not look good”, KFZ director Maxim Riss said. (Ukrainian…
DetailsThe representatives of the so-called Donetsk People’s Republic, a terrorist organization supported by the Kremlin, demand access of their inspectors to Avdiivka Coke and Chemical Works on Ukraine-controlled territory because of the “ecological danger”. According to Denis Pushilin press-secretary Victoria Talakina, this was voiced during the Minsk meeting. She said, that during the military conflict…
DetailsMetinvest notes the importance of Dneprovsky Iron and Steel Works, a part of the Industrial Union of Donbass, resuming operation, as it is the key consumer of raw materials on the Ukraine-controlled territory. “The company is very important for us. But I believe it is also important as an asset for its owners. That’s probably…
DetailsIn January-March Severstal produced 2.86 million tons of steel, down by 2% YoY. According to the company statement, the decrease was due to the planned repairs of converters No. 2 and 3 at CherMK. Pig iron output decreased by 1% YoY, to 2.34 million tons. Severstal sales in Q1 dropped by 9% YoY, to 2.53…
DetailsMariupol Ilyich Iron and Steel Works has produced a pilot batch of shaped pipes for a customer from USA. The pipes were produces from B-grade steel according to ASTM A500/A500M standard. “The peculiarity of the order was that the size was stated in inches, which was new to us: 2×2 inches, or 50.8×50.8 mm”, the…
DetailsRussian gold refining companies want value-added tax (VAT) on metal processing abolished and the deadline for abolishing a zero import duty on raw materials that contain precious metals extended to make their operation profitable. Sergei Belov, a deputy CEO for gold refining at Krastsvetmet, said that gold refining plants had import duties on raw materials…
DetailsChinese investment company Fosun intends to acquire 20-25% in Russian gold producer Polyus for $2 billion, according to the materials of the Russian-Chinese investment commission. Fosun will represent a consortium of Chinese companies in a deal with Polyus’s parent company Polyus Gold. “The parties have come to an agreement on the main transaction terms, they…
DetailsUkrainian Prime Minister Volodymyr Groysman has instructed the Energy and Coal Industry Ministry of Ukraine to draft a strategy in the coal sector by April 26. “On April 26, at a government meeting we are to discuss the strategy for the coal production sector. This must be a fundamental work. This must be your road…
DetailsMetinvest, a Ukrainian steel and mining group, began diversifying raw material supplies in 2014 considering the risks for assets in uncontrolled areas of Donbas. “We considered various plans of action in case given risks were realized. We’ve been working on this since 2014. Therefore, even then we began to diversify our supplies of raw materials…
DetailsEnergomashspetsstal has concluded another agreement with Ingulets Mining and Processing Works. The companies have been cooperating for over 10 years, The new contract presupposes the delivery of 17 parts for mining equipment with the total weight of 420 tons. Gear rings, trunnions, nozzles, etc. will be delivered to the customer in July-September. Last month EMSS…
DetailsIn March Dneprospetsstal produced 21616 tons of steel and 14429 tons of rolled metal, up by 8.4% and by 9% MoM respectively. According to the company statement, the total cost of products manufactured in March reached 681.211 million UAH, up by 12.9% MoM. In Q1 DSS produced 61839 tons of steel and 41877 tons of…
DetailsUkraine has cut off both electricity lines that fed Moldova Iron and Steel Works, according to the Transnistria minister of industry and regional development Nikolai Gliga. According to Ukrenergo power company both lines will have to be repaired. “These lines are used to feed the works in the smelting mode”, the minister noted. He says…
DetailsIn January-February the share of metal and metal wares in the imports from foreign countries totaled 5.4% (5.6% in January-February 2015). According to the Federal Customs Service, the cost of the products increased by 23.5% YoY, and their volume – by 30.3%. Imports of ferrous metals and wares increased by 35.3%, while pipe deliveries dropped…
DetailsIn January-March Beloretsk Iron and Steel Works, a part of Mechel, increased sales of metal wares with high added value. The highest rise was in rebars for construction (by 32% YoY). Sales of steel wire increased by 24%, of bearings – by 17%, of steel ropes – by 9%. “The increase in sales has to…
DetailsMetalloinvest has announced that Fitch Ratings (Fitch) confirmed the company’s long-term issuer default rating at ‘BB’ with a Stable outlook. In accordance with Fitch’s opinion reflected in the published release, Metalloinvest demonstrated financial resilience at times of volatile global pricing in iron ore and steel products and consistently reduced its absolute level of debt over…
DetailsIn May Ukrainian metal companies intend to produce 1.8 million tons of steel. According to Ukrmetallurgprom, pig iron and rolled metal output could stand at 1.6 million tons each, provided the situation does not change. For April Ukrmetallurgprom forecast pig iron output on the level of 1.5 million tons, steel – 1.7 million tons, rolled…
DetailsThe owner of Metalloinvest the billionaire Alisher Usmanov reported on the salary at the enterprises. For example, in Belgorod region, where the main enterprises of Metalloinvest are situated – Mikhailovsky and Lebedinsky GOKs and OEMK – the average salary is 24 thousand rubles, according to Rosstat. “At our enterprises the average wage is 41 thousand…
DetailsUkrainian metal companies consider its fair to extend the term of the increased scrap export duty, as the raw material is scarce on the local market. According to Metinvest CEO Yuri Ryzhenkov, the group has wintered without a considerable shortage of scrap for the first time in three years. “We were able to get good…
DetailsNLMK Group, an international steel company with facilities in Russia, Europe and the USA, boosted its spending on environmental projects and initiatives by 12% in 2016, to RUB 7.05 billion. The majority of funds were used for projects and initiatives to improve air quality. For example, NLMK Lipetsk upgraded gas cleaning systems at the refractory…
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