Power generating company RusHydro has postponed a decision on joint construction of the Boguchansky aluminum plant or the Taishetsky aluminum plant with Russian aluminum giant UC RUSAL to April, CEO Nikolai Shulginov told reporters on March 16. “We are making preparations. A meeting of the board of directors has been put off to April 1-10.…Details
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In 2017 ArcelorMittal Temirtau intends to increase coal concentrate output by 84% YoY, to 4.722 million tons. In February the Vostochnaya central processing factory started a pilot project on increasing concentrate output. With 210 thousand tons according to the business-plan, the shortest month in the year saw 225.1 thousand tons of concentrate produced. In January…Details
The chairman of the self-proclaimed Donetsk People’s Republic Alexander Zakharchenko has set up a program on partial clearing of the salary debts to miners of the state enterprises Artemugol (Gorlovka) and Ordzhonikidzeugol (Yenakievo). According to Zakharchenko’s order, the so-called ministry of finances will provide 182 million rubles for the cause. Coalmining in Gorlovka stopped in…Details
In 2016 Polymetal produced 1.27 million ounces of gold equivalent, up from its target of 1.26 million ounces. The annual gold output totaled 890 thousand ounces, up by 3% YoY, silver – 29.2 million ounces, down by 9% YoY. The gold output plan is 1.4 million ounces for 2017 and 1.55 million ounces in 2018.…Details
The State Property Fund has announced the sale of the Aluminum Foil Works in Zaporozhye. The starting price is 966.43 million UAH, or 1.16 billion UAH with VAT. The fund accepts all offers by April 3. The company has not been operating since the date of its creation – in 2004. It employs the director,…Details
The Vysochaishy Company intends to get the state support from the Ministry of economical development for the investment projects in the Baikal region. The company wants to get into the list of regional projects participants by submitting an inquiry to the ministry of the economical development of the Irkutsk region. The Vysochaishy project deposits are…Details
The processing factory of the Kolskaya Mining and Metal Company will receive a new automated system of technological process management. The previous complex is completely outdated. Moreover its spare parts are no longer produced. The modernization process is carried out gradually. In 2016 new machinery was assembled at the slurry pumping station. Now the specialists…Details
According to Vadim Dorofeev, the senior manager on coated metal sales of Magnitogorsk Iron and Steel Works, the coating market passed the lowest level of decline last year. In 2016 galvanized steel consumption in Russia totaled 2.88 million tons, down by 2% YoY, while the polymeric coating sector saw an increase of 1%, to 1.9…Details
Ukraine: Metinvest announces loss of control over operations on temporarily non-controlled territory
Following a request by the non-recognized republics to re-register legal entities in the so-called “DNR” and “LNR”, Metinvest declares a complete loss of control over the operations of all assets on the temporarily non-controlled territory (NCT). Unidentified people arrived at the group’s enterprises and demanded that the assets be re-registered under the jurisdiction of the…Details
The net profit of the metals producer Norilsk Nickel increased by 47%, to $2.531 billion in 2016, as calculated under the International Financial Reporting Standards (IFRS), the company said in a statement on March 15. Revenue fell by 3%, to $8.259 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased by 9%, to $3.899…Details
In April Ukrainian metal companies expect steel output to drop by 15% form the March planned results, to 1.7 million tons from 2 million tons. According to Ukrmetallurgprom, the April plan also presupposes the decrease in rolled metal output by 16.7%, to 1.5 million tons, and pig iron by 21%, to 1.5 million tons. Such…Details
The Commercial court of the Volyn region has initiated the bankruptcy procedure of the state enterprise Volynugol. The procedure started on March 2. The insolvency case was opened following the claim of the state enterprise Regional Power Grid, which itself has been in the bankruptcy procedure since December 7, 2015. The debt of Volynugol to…Details
In February deliveries of scrap to metal companies decreased by 10 thousand tons MoM, to 220 thousand tons, or the 76% of the necessary volume. Scrap stocks at the metal companies in February decreased by 15 thousand tons, to 105 thousand tons as of March 1. In January-February metal companies received 450 thousand tons of…Details