OMZ-Spetsstal has produced the largest forging ingot in the company history – weighing 443 tons. The ingot will be used to produce a heavy supporting roll for the 5000 mill of the Cherepovets Iron and Steel Works. The size of the future product: diameter – 2.36 meters, length – 12 meters. The total weight of…Details
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The increase of railroad tariffs this year by 25%, planned by Ukrzaliznytsia, is inadmissible, the Pobuzhye Ferronickel Plant CEO Oleg Bespalov believes. “They come and say that they need to increase tariffs to buy wagons, as they have no money”, he said. According to Bespalov, this has been heard before, but the situation with the…Details
In 2016 Ferrexpo received $189.2 million of net profits, up 6-fold YoY, with revenue up by 2.6%, to $986.33 million. According to the company statement, its EBITDA increased by 20%, to $375 million. At the same time its net debt decreased by 32% YoY, to $589 million. Capital investments last year dropped by 25%, to…Details
Ukrainian companies in January imported coking coal for CAD 48.2 million ($36.2 million under the current exchange rate) from Canada, while in January 2016 no coking coal was imported, Canadian Ambassador to Ukraine Roman Waschuk reported. He said that British Columbia had large stocks of coking coal and production facilities. Supplies from the province could…Details
The privatization of the Chervonogradskaya central processing factory has been named illegal, and the Lviv regional commercial court of appeals returned its assets to the state ownership. After the privatization in 2008 and the creation of the Lviv Coal Company the state controlled 37.58% of shares in the new company, with 62% controlled by the…Details
Metinvest plans to finish restructuring debt on eurobonds and pre-export financing (PXF) and issue just over $1.971 billion in new bonds on March 22, the Ukrainian mining and metallurgical holding said in a statement filed with the Irish Stock Exchange. The holding will also complete the formalities for a new PXF facility worth $1.109 billion.…Details
On March 20, a working group on the liberalization of the coal market in Ukraine was created to fulfill an order issued by the Prime Minister of Ukraine Volodymyr Groysman. Vice Prime Minister Volodymyr Kistion was appointed head of the group, reads a report on the government’s website. “On March 9, under the chairmanship of…Details
Russian gold producer Polyus will sell an 82.34% stake in the Nezhdaninskoye gold deposit for $158 million to a company beneficially controlled by Ivan Kulakov, a former managing director of Highland Gold Mining, Polyus said in a statement on March 21. The payment will consist of two tranches: $100 million will be paid upon completion…Details
Magnitogorsk Iron and Steel Works has decided to modernize its continuous casting machine No. 6 and the 5000 plate mill in order to start producing hot-rolled metal of the 350 mm thick slab. The project, including modification, assembly and putting into operation, is expected to be finished this year. At present the CCM No. 6…Details
In 2016 the Russian Railways throughput dropped by 1% YoY, mostly because of the considerable decrease in coal transportation. 99% of the transit raw materials come from Kazakhstan, and last year they decreased by 24.4% YoY. On the other hand, this has been compensated for by the ferrous metals transportation from Kazakhstan, which increased by…Details
In February Ukraine exported $31.203 million worth of pig iron, with imports on the level of $0.223 million. According to the State Fiscal Service, the main importer of Ukrainian pig iron in February was Italy ($10.166 million). In January-February Ukraine exported $99.642 million worth of pig iron, while imports totaled $0.286 million. Pig iron exports…Details
Following the cave-in of the Stepnaya mine in the Lviv region the government commission will check 300 mining companies. “We are checking all the documents at 300 enterprises of the mining complex which are deemed dangerous”, the Vice Prime Minister Gennadiy Zubko said. The commission started operating on March 6. According to Zubko the Stepnaya…Details
In 2017 Pobuzhye Ferronickel Plant intends to increase ore processing by 14% YoY, to 1.618 million tons, ferronickel output by 3.5%, to 82.7 thousand tons, and nickel manufacture by 3.3%, to 18.7 thousand tons. According to the company CEO Oleg Bespalov, in H1 the ferronickel output is expected to reach 40 thousand tons, nickel –…Details