In 2016 Metalloinvest sold a packet of Nornickel ADR valued at $342 million (1.4%). According to the group statement, as of December 31, 2015 it owned 3.2% of Nornickel shares, as of December 31, 2016 – 1.8%. Now the group has some 29.013 million ADR of the nickel company, having sold over 21.181 million. Nornickel’s…Details
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In 2016 Metalloinvest received $1.15 billion of net profits, up 5.3-fold YoY. The company revenues decreased by 3%, to $4.26 billion. EBITDA dropped by 12.2%, to $1.258 billion. The company debts decreased to $3.16 billion from $3.56 billion as of December 31, 2015. “In 2016 Metalloinvest reached record iron ore output volumes at Lebedinsky and…Details
The State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan announced an auction for alluvial gold and silver deposits. The license for exploration of alluvial gold deposit Urmaral, located in Bakay-Ata district of Talas region, was estimated at $6,250. The forecast gold resources are 1,85 tons. Kumushtag ore field was also put up for…Details
Following an explosion at the Zaporozhkoks 4 employees have been killed. “There was an explosion of the gas tank without burning. A subcontracting organization was performing welding and repair works at the tank, which resulted in the explosion. 4 people perished”, the local police said. According to the works security director Vadim Advokatov, the explosion…Details
The warehouses of Sverdlovantrazit, Rovenkiantrazit and Komsomolets of Donbass Mine, situated on the occupied territories and taken over by the militants, stock some 430 thousand tons of anthracite. DTEK reported that it would watch for the illegal transportation and sale of the anthracite and stop it. “Any attempt to sell this coal is a crime.…Details
In January-February Kazakhstan mined 5.884 million tons of iron ore, up by 14.4% YoY. According to the Statistics Committee of the Ministry of the national economy, copper ore output totaled 14.547 million tons, up by 54% YoY, and chrome concentrate – 668.3 thousand tons, up by 15%. (Ukrainian metal)Details
In 2016 the only primary aluminum producer in Ukraine – Zaporozhye Aluminum Works – decreased its losses by 61% YoY, or by 1.256 billion UAH, to 787.635 million UAH. According to the company statement, the value of its assets at the end of 2016 totaled 241.651 million UAH, current liabilities – 6.3 billion UAH, fixed…Details
The Ukrainian market of coated metal is reviving after a fall in 2014-2015 thanks to the rise in the construction. According to Metinvest marketing director Roman Kurashev, in 2016 galvanized steel consumption in Ukraine increased by 26% YoY, to 298 thousand tons, and this year it is expected to reach 307 thousand tons, almost on…Details
The Pipe Metal Company has supplied the first batch of drill pipes with the premium interlock of the second generation – TMK UP EXD. The pipes have been shipped to Samotlorneftepromkhim. The new interlock is easier to assemble which decreases time and expenses for drilling. TMK UP EXD has been developed by TMK – Premium…Details
Energy and Coal Industry Minister Ihor Nasalyk estimates Ukrainian thermal power plants’ demand for anthracite coal until the end of 2017 at 4.2 million tons. He announced the forecast at a Cabinet meeting on March 16. “We’re running four projects to minimize coal consumption. I’d like to tell you that we need only 4.2 million…Details
In 2017 Severstal will increase its share on the Russian market of polymer-coated rolled metal. According to the company flat rolled metal sales director Kirill Kiryushkin, in 2016 its share was 20%. This year the company plans to increase it to 24%. In Q3 Severstal will put new galvanized and coated metal capacities in operation,…Details
Geologists of the Magadan region have discovered a gold field with resources amounting to several dozen tons, a regional division of geological exploration company Rosgeo, also known as Rusgeology, said in a report on March 16. The newly discovered Khulgannakhskaya block is located 102 kilometers off the Omchak village, where the nearest Matrosov mine is…Details
Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has completed delisting of its global depositary receipts (GDRs) from the London Stock Exchange (LSE), the company said in a statement on March 16. Nordgold offered to buy the GDRs at $3.45 per security and said it could spent a total of up to $118…Details