The annual shareholders meeting of Asha Iron and Steel Works decided to leave the 2016 net profit to the company and not to pay dividends. According to the company CEO Vladimir Myzgin, the year 2016 was more efficient than 2015. Despite tough conditions on sales markets and sanctions, the company increased output by 6% YoY.…Details
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Polyus has published its forecast for 2017-2019. Since 2013 the company has increased gold output by 19%, to 1968 thousand ounces. According to the results of Q1, the company confirms its forecast for this year of 2.075-2.125 million ounces of gold. In 2018 the output will increase to 2.35-2.4 million ounces, and in 2019 –…Details
United Metallurgical Company has started producing large diameter section pipes (100-300 mm), which are starting to be widely used in metal structure manufacture. In particular, such pipes are used in the construction of stadiums for FIFA 2018. They are also used in the construction of industrial buildings, hangars, and even in housing. This year the…Details
Asha Iron and Steel Works has started producing 12-meter sheet for welded beams. According to the company representatives, there is a demand for such products. 12-meter sheets allow producing the beam of the necessary length without additional welding. AMZ plans to continue modernizing its sheet-rolling manufacture, improving the quality and expanding the product range. In…Details
Izhstal has finished capital repairs of its electric arc furnace, which produces alloyed, stainless and speed steels. “The EAF-25 produces the most profitable products. So we pay special attention to the conditions of the furnace. The repair will provide for the faultless operation of the furnace and decrease energy consumption and refractory materials usage”, the…Details
Sberbank and Severstal, the vertically integrated mining and metallurgical company, have announced collaboration in technological innovation. This year at the 11th St. Petersburg International Economic Forum Severstal and Sberbank presented their latest prototype, which would enable the secure transfer of international letters of credit using blockchain technology. During the demonstration, the companies tested the prototype…Details
The state enterprise Sea trade port Yuzhniy has chosen Yuzhmetiz LLC the supplier of steel ropes valued at almost 3 million UAH. The company was created in 2001 and started participating in state tenders in 2009. Another contender was the private firm Oriya. (Ukrainian metal)Details
RUSAL has offered RusHydro a 50% stake in a project to complete construction of the Taishet Aluminum Smelter in the Irkutsk region, CEO Vladislav Solovyov reported on June 5. “We have made our proposal for RusHydro as comfortable as possible. Their participation in the project almost does not require financial expenses at the moment. Tariffs…Details
Cherepovets Iron and Steel Works has finished repairs in the sheet-rolling shop valued at 10.8 million rubles. In particular roll ovens No. 1 and 2 have been repaired. The overhaul was carried out by the specialists in 4 days. Some 40 employees were involved in the work. (Ukrainian metal)Details
Gold producer Polyus plans to offer 7% of its shares under a secondary public offering (SPO) on the London Stock Exchange and the Moscow Exchange, the company said in a statement on June 5. The company has started a pre-marketing campaign and will hold a roadshow for the offering in the next two weeks, a…Details
Multi-industry holding Renova Group of businessman Viktor Vekselberg will endeavor to obtain control over Petropavlovsk Plc, which operates gold deposits in Russia and in which Renova holds a 22.34% share stake and a 6.88% convertible bond stake. Renova and friendly funds Sothic Capital Management and M&G Debt Opportunities, part of Prudential, jointly holding about 40%…Details
Pipe Metallurgical Company has placed BO-07 bonds valued at 10 billion rubles (10 million shares at 1 thousand rubles each). The interest rate is 9.35%. The circulation period is 10 years, with a 4-year option. The organizers were ATON, Alfa-Bank, BCS Global Markets, VTB Capital, Sovcombank and UniCredit Bank. (Ukrainian metal)Details
The governor of Magadan region Vladimir Pecheny suggests creating an exchange on nugget trade in the region. “We want to create a nugget exchange in Magadan, like the diamond exchange in Yakutia”, he said during the Petersburg Economic Forum. The region is the leader in alluvial gold extraction in Russia, having obtained 16 tons last…Details