Russia: Metalloinvest rating confirmed

The Expert RA rating agency has confirmed Metalloinvest rating at the ruAA- level with positive outlook. The analysts have positively estimated the financial and operational results of the group in 9 months of 2018, including its vertical integration, high added value output growth and prime cost level control. The increase in profitability and optimization of…


Russia: Rusolovo tin output up in 2018

In 2018 Rusolovo produced 1.5 thousand tons of tin concentrate at its deposits in Khabarovsk region. The output grew by 50% YoY. In 2019 it is expected to increase manufacture to 2 thousand tons. By late 2022 Rusolovo plans to have commissioned a mining and processing works at the Pravourminskoye deposits, increasing tin concentrate output…


Ukraine: Interpipe reorganizes pipe works

Interpipe has held extraordinary meetings of shareholders at its enterprises. In particular, Interpipe Novomoskovsk Pipe Works (Interpipe NMTZ) has been reorganized from the public joint stock company into a private joint stock company. The enterprise has also renewed its statutory documents. Interpipe Nizhnedneprovsk Pipe Works (Interpipe NTZ) has kept the public status, but decreased the…


Russia: major metal companies extensively firing employees

In 2013-2017 the major metal companies have been seriously decreasing the number of their employees.

In particular, Evraz fired 40 thousand people, and Severstal – some 10 thousand.

At the same time at present Severstal intends to hire new personnel for Yakovlevsky GOK. (Ukrainian metal)

Russia: board chairman leaves Rusal

Rusal announces the resignation of Matthias Warnig from the office of the chairman of the board.

Warnig was elected a member of the board in June 2012.

In October 2012 he was elected chairman of the board.

The new chairman will be chosen at the next meeting of the board. (Ukrainian metal)

Russia: ChMK masters new rail product

Chelyabinsk Iron and Steel Works has received a certificate to produce switch rails.

By the end of December the company intends to have produced 600 tons of new rails.

The certificate for OR65 rails of the NT260 category is valid for 5 years.

So far ChMK produces 5 types of rails. (Ukrainian metal)

Armenia: precious metals prices down on December 26, 2018

The Central Bank of Armenia set the following prices for precious metals on December 26.

The price of gold is set at 19570.34 drams, down by 7.68 drams.

Silver price dropped by 0.09 drams, to 228.27 drams.

The price of platinum went down by 4.83 drams, to 12288.33 drams. (Armenpress/Ukrainian metal)

Russia: Zabaikalye region to increase coal output

In January-November Zabaikalye region extracted some 20 million tons of coal.

Traditionally SUEK contributed most of the yield.

This year the region expects to mine 21 million tons of coal.

In particular, SUEK plans to extract 5.9 million tons of coal, up by 15% YoY. (Ukrainian metal)