The National anticorruption bureau of Ukraine suggests the State Property Fund to annul the contract with the Zaporozhye Titanium and Magnesium Works director suspected in 492 million UAH embezzlement. According to the bureau chairman Artem Sytnik, the ZTMK director has violated several clauses of the contract. The bureau also suggests the SPF to analyze the…Details
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In January the world pig iron manufacture increased by 6.78% YoY, to 97.586 million tons. CIS countries increased output by 5%, to 6.855 million tons. In particular, Ukraine produced 2.03 million tons. North America increased pig iron output by 4,7%, to 2.56 million tons, EU – by 4.1%, to 8.25 million tons, South America –…Details
Energomashspetsstal has created an ingot weighing 415 tons. The ingot will be used to produce a shell of the reactor for one of the nuclear power plants being constructed. EMSS used the newest techniques in the production of the ingot. The ingot has been delivered to the AKK-15000 forging mill. The total weight of the…Details
The acting chairman of the State Service of geology and soil Nikolai Boyarkin has signed 4 orders to allow the Nuclear Energy Systems of Ukraine LLC to prospect and mine uranium in Nikolaev and Dniepropetrovsk regions. In February 2016 the company addressed the service to provide allowances to operate on 5 uranium ore deposits for…Details
The Ukrainian Energy and Coal Industry Ministry intends to reduce grade A coal consumption from 9.5 million tons to 6 million tons in 2017, minister Ihor Nasalyk has stated at a meeting of the Cabinet of Ministers of Ukraine. “The ministry has developed and is implementing four programs enabling us to replace more than 3.5…Details
The mine-constructing management of the Gaysky Mining and Processing Works is finishing construction of an important object for the underground mine – the complex of wagons in the mineshaft. “The goal of this complex is to bring up wagons with rock to the surface. The daily capacity of the complex is expected to amount to…Details
In February Ukraine produced 1.71 million tons of steel, down by 18.7%, or by 393 thousand tons MoM. The average daily steel smelting in February dropped to 61.1 thousand tons from 67.8 thousand tons in January. Pig iron production in February decreased by 18.2%, to 1.565 million tons, rolled metal output dropped by 20%, to…Details
In 2016 Severstal Distribution sales increased by 6% YoY, to 1.545 million tons. Last year the companies of the network sold 14% of all the Severstal Russian Steel products. Half of the total volume, or 756 thousand tons of metal, was delivered to Russian customers. The North-Western Federal district companies sold 47% of the total…Details
The Privolzhsky subsidiary of the Rosbank has signed an agreement on the 6 billion rubles credit line with Vyksa Iron and Steel Works, a part of OMK. The contract stipulates provision of loans in rubles, dollars and euros. “Rosbank started cooperating with the Vyska Works in 2006, and now it’s one of our strategic partners.…Details
Rosterminalugol JSC, the largest dedicated coal port in the Baltic region, a part of Russia’s largest coal port holding Port Management Company LLC, says it handled 3 million tons of coal in January-February. The milestone ton was loaded onto Panamax ship Lucky, the 49th vessel handled at the terminal from the year beginning. In February…Details
U.K.-based mining giant Evraz, which operates mainly in Russia, expects its net debt to earnings before interest, taxes, depreciation and amortization (EBTIDA) ratio to fall to below 3x in January-June from 3.1x as of the end of 2016, president Alexander Frolov said in a conference call. Evraz’ dividend policy stipulates that the company may pay…Details
Evraz is in the process of selling its Evraz Yuzhkoks Works, uniting Bagley and Dneprodzerzhinsk coke and chemical plants. “The conclusion of the transaction requires several conditions, which the sides cannot fully influence”, Evraz said. According to the company, the payment of assets will be made by installments by August. Apart from the two coke…Details
Azovstal Iron and Steel Works planned to increase output in 2017 by 0.8-0.9 million tons, to 4.2-4.3 million tons, but because of the trade blockade of the occupied territories it revaluated the forecast to 3.15 million tons. “If the situation persists and we still operate under the blockade regime, we might not even reach 3…Details