Almalyk Mining and Metallurgical Combine (AMMC) has completed a project worth $75.2 million to expand its main source of raw material – the Kalmakyr copper-porphyry deposit, a representative of the AMMC reported. The project envisaged involving the non-registered (extra-balance) ores of the quarry, making it possible to increase the volume of ore processing by 4…
DetailsSevernoye Olovo, controlled by tycoon Roman Abramovich’s Millhouse, has returned a license for the development of Russia’s largest tin deposit Pyrkakai to the government for it has decided not to develop the deposit. The Pyrkakai deposit, located in the Chukotka Autonomous District, is the fourth largest tin deposit in the world with reserves amounting to…
DetailsThe Federal Antimonopoly Service of the Russian Federation has denied the claim of Seligdar to purchase up to 75.01% of the voting shares in the tin-mining company Rusolovo. Seligdar applied to the service in October 2016, stating that as the result of the deal it would own 100% in Rusolovo. But the FAS declined the…
DetailsThe Cabinet of Ministers of Ukraine has simplified the procedure of scrap export registration and canceled the decree on the registration. This will liberalize foreign trade and eliminate old obstacles. “The decision cancels the red-tape procedure of contract registration, opening the free scrap exports, improving the business climate in Ukraine and decreasing corruption risks”, the…
DetailsThe Pipe Metal Company, one of the world’s largest pipe producers, has sold TMK-Chermet for 6.2 billion rubles. “This sale has decreased our net debt”, the company said in a statement. The deal will not result in the change of the supply system. “TMK will still receive scrap under competitive market conditions”, the statement reads.…
DetailsBoard of directors of Shubarcol komir appointed Kemal Usmanov the president of the company. Since 2003 Usmanov has been the deputy director of Kazmarganets Ore Group, and then till 2012 its director. From 2012 till January 2013 he has served as the director of the Don Mining and Processing Works. In October 2016 he has…
DetailsIn 2016 Ukrainian metal companies increased electricity consumption by 0.02% YoY, to 28.76 billion kW-h. According to the Ministry of energy and coal industry, machine-building companies increased electricity consumption by 0.2%, to 3.676 billion kW-h, while chemical companies consumed 2.968 billion kW-h of electricity, down by 3.8%. (Ukrainian metal)
DetailsMetinvest Group’s iron and steel works launched production of 49 new products last year. The rolled plate segment accounts for most of new 18 product items, and the rolled coil segment for 16 products. Furthermore, production of 15 new sizes of rolled long products and sections came on line in 2016. Metinvest’s enterprises produced new…
DetailsIn 2016 Magadan region mined 27.9 tons of gold instead of 27.5 tons of the project target. “We have around 28 tons of gold, and this greatly increases our target indices. This will allow us to improve economic situation in the region and make our social support and sports construction programs more real”, the region…
DetailsIn 2016 TMK shipped a total of 3,440 thousand tons of tubular products, down by 11.2% YoY. The decline was mainly due to lower welded pipe sales. Seamless pipe shipments remained almost flat YoY at 2,399 thousand tons. Welded pipe shipments were 1,042 thousand tons, down by 28.7% YoY, mainly due to lower output across…
DetailsIn January-December 2016 Russian seaports handled 721.7 million tons of cargo (up by 6.7% YoY), says the press center of Association of Commercial Sea Ports. Transshipment of dry bulk cargo totaled 335.8 million tons (+7.5%) including 136.3 million tons of coal (+10.5%), 28.2 million tons of ferrous metals (+7.8%), 8.7 million tons of ore (+29.6%),…
DetailsRussia’s Vnesheconombank (VEB) plans to use about $100 million of the National Wealth Fund’s money in 2017 to finance pre-front end engineering and design (pre-FEED) works at the Udokan copper field, VEB CEO Sergei Gorkov reported. “The supervisory board has approved it, it was done rather a long time ago. This is not a large…
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