Ukraine: VostGOK purchases to be checked

The Ministry of energy and coal industry of Ukraine initiates an audit of foreign purchases of uranium concentrate by the state enterprise Vostochniy Mining and Processing Works. According to the prosecutor of the specialized anticorruption prosecutor’s office Igor Symkiv, under the criminal case of Nikolai Martynenko the energy minister Igor Nasalik has been questioned and…

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Ukraine: Martynenko suspected of VostGOK money embezzlement

The ex-people’s deputy Nikolai Martynenko is suspected of embezzling money of the state enterprise Vostochniy Mining and Processing Works. “The investigation showed that in 2013-2016 the employees of VostGok, Steuermann Investitions und Handelsgesellschaft mbH, as well as some individuals with control over the companies, including Martynenko, embezzled the funds of VostGOK in the amount of…

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Russia: copper output in Q1 2017

In January-March Russia increased raw copper output by 3.3% YoY, while the production of copper alloys dropped by 22.7%. According to the Federal Service of State Statistics, copper flakes and powders output decreased by 5.4%, of rods and shapes – by 28.4%, at the same time wire production went up by 15%, and foil –…

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Russia: TMK sales up in Q1 2017

In January-March the Pipe Metal Company sold 850 thousand tons of pipes to customers, up by 0.6% YoY. According to the company statement, seamless pipes sales increased by 16.7%, to 658 thousand tons thanks to the stable demand form oil-and-gas companies. Welded pipes sales dropped by 31.8%, to 192 thousand tons, mostly because of the…

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