Gold production at the Kumtor mine in 2016 was 550,960 ounces or 17,136.78 kg, Kumtor Gold Company informed. Gold sales were 546,342 ounces or 16,993.15 kg with a revenue totaling $686.4 million. According to preliminary reports of the KR National Statistics Committee, Kumtor’s share in KR GDP in 2016 was 8% and in the overall…Details
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The Taganrog Iron and Steel Works, a part of TMK, has been visited by the Rostov region deputy governor on industry development, energy and transport Vladimir Krupin and the first deputy minister of industry and energy of the region Andrei Savelyev. Together with the managing director Sergey Bilan they have visited the arc-furnace and pipe-rolling…Details
The Beloretsk Iron and Steel Works, a part of Mechel, has concluded a contract to buy a steel rope mill in Germany. The new machinery will allow producing 22-90 mm diameter ropes used in lifting industry, bearing elements of hanging bridges, coal and mining industries, as well as ship-building and oil-and-gas extraction. At present no…Details
Norilsk Nickel has invested 4.6 billion rubles into the modernization of its port terminal in Murmansk. According to the company statement, 2.4 billion rubles were spent on construction of the second birth, which would be put into operation in late March. The increase in throughput capacity will allow Nornickel to transport all of its produce…Details
Ukraine’s government intends to ban imports of steam coal from Russia, Ukrainian Energy and Coal Industry Minister Ihor Nasalyk declared. “A draft resolution is currently in the pipeline. A decision will follow,” he said when answering a question about plans to ban anthracite coal imports from Russia. The draft resolution is planned to be considered…Details
In 2016 DTEK Pavlogradugol increased net profit 3-fold YoY, to 647.15 million UAH. According to the company statement, its assets cost 24.41 billion UAH, up by 17% YoY, accounts receivable were on the level of 7.51 billion UAH, up by 64% YoY. The company fixed liabilities increased from 4.72 billion UAH in late 2015 to…Details
The resumption of primary aluminum production as well as the creation of a new anode factory at the VgAZ-SUAL works will give the Volgograd region some 2.5 thousand jobs. RusHydro confirmed its readiness to discuss electricity supply to the Volgograd Aluminum Works. It was the high cost of electricity that halted the electrolysis manufacture at…Details
Chelyabinsk Iron and Steel Works, a part of Mechel, has started producing two types of construction beams. The new beams (45B1 and 45B2) are used in construction of industrial buildings, warehouses and trade premises. So far the company has shipped over 200 tons of beams to local customers. (Ukrainian metal)Details
In February Ukraine decreased steel output by 3.6% YoY, to 1.9 million tons, falling from the 10th position to the 11th position in the 67 countries list. Most of the TOP-10 countries reported an increase in steel output except for Japan, USA and Russia. In January Ukraine produced 2.1 million tons of steel, up by…Details
The so-called Donetsk People’s Republic has started hunting for the ex-CEO of the Zasyadko mine Pavel Filimonov. He is suspected of committing a crime connected with the violation of safety rules while conducting mining or construction operation resulting in the death of 2 or more people. The militants already arrested Filimonov in 2015 following an…Details
The shareholders of the Severniy Mining and Processing Works, a part of Metinvest, intend to spend 1.8 billion UAH on paying dividends for 2016 from the net profit of 3.61 billion UAH. The dividends will be paid as 0.77643 UAH per ordinary share. In 2015 SevGOK received 1.21 billion UAH of net losses. (Ukrainian metal)Details
Ferrexpo has not prolonged the license to operate at the Gorishne-Plavninskoye and Lavrikovskoye deposits. The licenses expire in July. The company expects the licenses to be prolonged automatically. “But if the licenses are revoked or not prolonged, we will not be able to produce pellets and deliver them to our customers”, the company said in…Details
The state enterprise Steel Structures (Ryazan) has put into operation the new line to produce welded mesh. According to the company statement, it chose to produce the most popular types of mesh on the market. It can also produce other types and sizes of mesh according to the customer orders. The capacity of the new…Details