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U.K.-registered gold producer Petropavlovsk Plc, which operates in Russia, can start paying dividends after 2018, CEO Pavel Maslovsky declared. The company set a condition that dividend payments would start once a debt to EBITDA (earnings before interest, taxes, depreciation and amortization) ratio is below 2 to 1, in December 2014 during loan refinancing. “Now the…
DetailsRosterminalugol JSC says it has loaded 2 million tons of coal this year (as of February 11). The milestone ton was loaded onto Panamax ship Nireas, the tenth vessel handled in February and the 33rd from the year beginning. In 2016, this result was achieved on February 29. Rosterminalugol JSC (port Ust-Luga, Leningrad Region) is…
DetailsAlchevsk Iron and Steel Works has been shut down because of the lack of iron ore raw materials and the railroad blockade. Yenakievo Works and Donetskstal are also on the brink of being shut down. The current average daily pig iron and steel output is 5% lower MoM. As of February 14, 20 out of…
DetailsUkraine consumes 24 million tons of coal, of which 9 million is anthracite group produced from the Ukrainian subsurface in the temporarily occupied territories, and which totals one third of the whole electricity in the country, Ukrainian Prime Minister Volodymyr Groysman stated. He said that public strict monitoring must be introduced, if cases of smuggling…
DetailsRussian billionaire Mikhail Prokhorov’s Onexim Group will sell 3.3% in aluminum giant UC RUSAL for $240 million, a banking source familiar with the deal reported. Onexim plans to sell 505 securities at 3.7 Hong Kong dollars, or 27.7375 rubles, per share. Dimosenco Holdings, an affiliate of Onexim group, started collecting bids for 2.5% in RUSAL…
DetailsRussian metallurgical company Ruspolymet plans to launch a 1.14 billion ruble plant to produce powdered high-speed steel billets for metal-cutting tools in the Sarov technological cluster in the Nizhny Novgorod region, the company’s board of directors chairman Viktor Klochai announced. The project will be implemented by Ruspolymet’s subsidiary Grankom under state industrial corporation Rosatom’s scientific…
DetailsThe Ukrainian Prime Minister Vladimir Groysman said that in 3-5 years the country would be able to cope without anthracite coal from the occupied territories of Donbass. “To carry out the modernization and replace this coal with, say, gas-generating group, which is mined on controlled territory, we will need some 3-5 years and around 15…
DetailsIn February Mariupol Ilyich Iron and Steel Works and Azovstal, both parts of Metinvest, decreased output by 10% because of the ATO zone railroad blockade. “Avdiivka Coke and Chemical Works receives electricity from Zuyevskaya TPP, situated on the uncontrolled territory, but registered in Ukraine. This power plant can only use coal mined in Pavlograd and…
DetailsSeverstal Stalniye Resheniya, a part of Severstal Russian Steel, has started producing metal structures for the construction of the covered skating rink with artificial ice in Alexandrov, Vladimir region. The total weight of the structures will exceed 350 tons. The covered skating rink will be a one-story building with the total square of 3240 square…
DetailsThe Ministry of energy and coal industry has developed 4 projects on replacing anthracite coal mined in Donbass and has already implemented 2 of them. According to the energy and coal industry minister Igor Nasalik, one project will decrease anthracite coal consumption by at least 1 million tons. “This project is connected with the Rovno…
DetailsIn 2016 Zaporizhstal consumed 160 million cubic meters of gas, down by 22% YoY, or by 44 million cubic meters. According to the company, such results have been reached due to the complex energy-saving program across the company. “The major measure was the project on coking gas supply from Zaporozhkoks to Zaporizhstal shops”, the company…
DetailsChepets Mechanical Works, a part of TVEL, has shipped the first batch of titanium to a European customer. The delivery was carried out under the 5-year contract, signed in December 2016 with a major foreign distributor. “According to the agreement the ChMZ specialists have worked out a product portfolio that is in demand on the…
DetailsCoal stocks at Ukrainian thermal power plants on February 6-12, decreased by 4.9%, or by 79 thousand tons, to 1.53 million tons. Gas-group coal stocks dropped by 8.4%, or by 63 thousand tons, to 688 thousand tons (with 121 thousand tons at Burshtyn TPP). Anthracite coal stocks decreased by 1.8%, or by 16 thousand tons,…
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