The United Mining and Chemical Company will spend 50% of its 2016 net profits to pay dividends, having sent 338.849 million UAH to the state budget. The decree on the dividends payment was approved by the Ministry of economical development and trade on April 28, and UMCC received it on May 13. The dividends have…Details
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The stocks of anthracite at thermal power plants increased by 10.9%, to 464 thousand tons, from May 10 through May 15. According to the Ministry of energy and coal industry, Centerenergo increased stocks of the Zmiev TPP from 49.3 thousand tons to 74.4 thousand tons. Tekhnova LLC increased anthracite stocks at Darnitsa and Cherkassy TPPs…Details
Silver and gold producer Polymetal International and UniCredit bank have agreed on terms of a 5-year $200 million loan to finance existing debt from May, the company said in a statement on May 15. Polymetal is also considering options to refinance its $400 million loan with Sberbank due in November 2018 and is in talks…Details
A consortium of China’s Fosun Group, Zhaojin Mining and Hainan Mining may get only 15% in Russian gold producer Polyus instead of 25% expected earlier. In April, the documents of the Russian-Chinese investment commission provided that Fosun agreed to acquire 20-25% of Polyus for up to $2 billion. A relevant agreement can be signed in…Details
In Q1 GeoProMining (GPM) spent $1.84 million to modernize the Agarak Copper-Molybdenum Works. According to the company statement, a Komatsu PC-400, 10 quarry dump-trucks and a Shtanui SD32 have been purchased for the works. In 2009-2012 AMMK and its deposit were completely modernized and reached the full capacity of 3.5 million tons of ore per…Details
The Cabinet of Ministers of Ukraine intends to provide 200 million UAH to increase labor safety at state mines. “The commission that checked safety at mines has presented results of its work. The situation is pretty bad. I don’t want to go into detail, but we have to start improving the safety of our miners…Details
Lvivugol has received 3.9 million UAH from the Ministry of energy and coal industry to put new long faces into operation and purchase equipment for mine modernization and development. From the year start the enterprise has received 49.3 million UAH. In the first half of the year three new long faces will be put into…Details
In January-April two coalmining enterprises of Lugansk region considerably decreased output. According to the Ministry of energy and coal industry, Lisichanskugol output dropped by 29.4% YoY, to 67.5 thousand tons of coal, and Pervomayskugol – by 38.2%, to 78.3 thousand tons. (Ukrainian metal)Details
Interpipe intends to take part in the second auction of large scrap batches sales by Ukrzaliznytsia. But it does not have the task to win at any cost, the company CFO Denis Morozov said. “We plan to apply for participation, but we don’t have the goal to win. Our goal is for the Ukrainian scrap…Details
Evraz NTMK has produced a batch of R50 OT350 rails for Rusal to develop the infrastructure of bauxites deposits in Guinea – Compagnie des Bauxites de Kindia. According to the company statement, the rails will be used to repair railroad connecting the company to the Konakri seaport. Africa is one of the target regions for…Details
Severstal-Metiz has supplied high-strength rebar ropes in polyethylene coating for the repair of the Rostov Nuclear Power Plant first reactor framework. The ropes have been manufactured in compliance with the Federal norms and safety rules in nuclear industry. Previous suppliers of such ropes have been from Europe. (Ukrainian metal)Details
The mining and smelting enterprise based in Masalsky field in Akmola region, that is to be constructed, will create 7,000 new jobs. On May 14, representatives of LLP “Masalsky Mining and Processing Plant” signed agreements with China National Technical Import and Export Corporation (CNTIC) and Exim Bank of China for construction of the above plant.…Details
After Ukrgazdobycha attracted world operators of deep drilling the Ukrainian market of steel pipes for oil-and-gas extraction will see a sharp increase of demand. “Until then there will be no increase of demand on the local market”, Interpipe chief finance and economy officer Denis Morozov said. At the same time Ukrgazdobycha increased oil-and-gas pipes purchases.…Details