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AzerGold CJSC, an Azerbaijani company that extracts, processes and sells gold and silver, plans to start mining at the Chovdar ore field as part of the surficial (sulfide) phase, Chairman of the Executive Board of AzerGold Zakir Ibrahimov has said at a company’s press conference on the results of 2019. Ibrahimov added that the confirmed…
DetailsAmong the EAEU members Armenia is leading by the growth in mining industry and the industrial sector. In 2019 the industry grew by 9%, and the mining sphere – by 23.9%. Kyrgyzstan demonstrated the industry growth of 6.9% and mining – 11.8%. It is followed by Kazakhstan (3.8% and 3.7% respectively), Russia (2.4% and 3.1%)…
DetailsIn 2019, stainless steel consumption in Russia increased by 27 tons YoY, to 497807 tons. Compared with 2017 the result grew by 5.5%. In Q1 2019 stainless steel consumption went up by 0.8% YoY, in Q2 it decreased by 6.7%, in Q3 – by 0.5%, but in Q4 grew by 6.4%. Flat cold-rolled metal consumption…
DetailsIn 2019 coal output in Buryatia increased by 35.4% YoY, to 7.161 million tons. Nikolskoye coal deposit, developed by Razrez Tugnuiskiy, accounted for the largest volumes. The company extracted 4.332 million tons of coal, up by 89%. Until 2021 the company intends to start mining 16 to 18 million tons of coal per year due…
DetailsIn January railroad transportation of iron and manganese ore as well as ferrous metals grew by 10.8% and by 2.5%. At the same time transportation of coke dropped by 23.4% and scrap – by 22.7%. According to the State Statistics Service, 6.9 million tons of iron and manganese ores were transported, 2 million tons of…
DetailsThe 6th Court of Appeals has satisfied the claim of the Office of large taxpayers and canceled the decision of the Kyiv District Court dated December 2, 2019, which has satisfied the claim of Alchevsk Iron and Steel Works to the Office to return 582 million UAH of profit tax overpayment. The overpayment accumulated in…
DetailsAbout 200 miners of the Dzidziguri mine have gone on a strike in Tkibuli region of western Georgia earlier today after the employer demanded they use the tunnel of Mindeli mine to reach their regular work site, which they say “takes too much time and effort”. The miners said that the alleged reason for the…
DetailsIn 2019 the Republic of Buryatia exceeded gold output plan by 15.9%. The region yielded 5562.5 kg of gold with the target being 4800 kg, or up by 6% YoY. Alluvial gold output totaled 499 kg, up by 24.9%. Ore gold yield grew by 5.6%, to 3063.5 kg. (Ukrainian metal)
DetailsKaluga Turbine Plant has supplied a backpressure turbine with the capacity of 6.9 MW to Gaysky Mining and Processing Works. The turbine will be used in the cogeneration plant of the GOK with the combined capacity of 24 MW. The companies have been cooperating since late 1980s. The contract to supply the turbine was signed…
DetailsKAZ Minerals has approved expenses of $150 million to finish bankable feasibility study of the development of the Peschanka deposit in Chukotka Autonomous District. Additional machinery might be supplied to the deposit, which will increase expenses. Last year the company approved expenses of $80 million, but the actual amount totaled $111 million. The study is…
DetailsLast week, the price of one ounce of gold increased by 51.1 manats ($30) or by 1.9%. Accordingly, the average price of one ounce of gold stood at 2,722 manats ($1,601). The price of one ounce of silver grew by 0.8 manats ($0.47) or by 2.8%, to 30.8 manats ($18.1). The price of one ounce…
DetailsVSMPO was awarded the highest supplier award “2019 SQIP Accredited” at the annual conference of Airbus suppliers held as part of Supply Chain and Quality Improvement Program known as SQIP. This is the third consecutive award given to the Russian supplier by its strategic customer – the European aerospace corporation (previous awards were “Best Improver”…
DetailsIn 2019 Karelsky Okatysh, within the consolidated group of Severstal taxpayers, paid 2.18 billion rubles of profit tax to the budget of the Republic of Karelia. Payments to the consolidated budget of Karelia from Karelsky Okatysh exceeded 1.2 billion rubles, up by 100 million YoY. For the past 10 years the company has been increasing…
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