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Severstal announced details of its 2017 capital investment program, which highlighted its operational excellence and long-term competitiveness. In 2017 Severstal plans to invest approximately 43 billion rubles across the business. This investment will primarily focus on developing key areas of the company’s strategy including cost control, increasing production of high-value added products and enhancing safety…
DetailsThe working group created by the Ministry of energy and coal industry to investigate the state purchases by mining companies has called the management of the state enterprise Krasnoarmeyskugol to come to Kiev. The increased prices of Donbass mining companies during state purchases have drawn attention of journalists, people’s deputies and the people. The scandal…
DetailsNavoi Iron and Steel Works has resumed gold mining at Amantaytau mine in the Central Kyzylkum. In 2003 the previous owner Amantaytau Goldfields put the gold mining factory in operation there with the capacity to produce 6.3 tons of gold per year. In 2011 the company was liquidated and its assets given to the Navoi…
DetailsLydian Armenia, operating at the Amulsar deposits in Jermuk, will receive its first gold nugget in March 2018. The construction works in Jermuk are underway and will last for 18 months. “We are prepared to invest $370 million and create 700 jobs in 10 years. The program presupposes the annual gold exports of $259 million”,…
DetailsThe Rosprirodnadzor (the Federal service of supervision in environment) has found out that Mechel-koks works in Chelyabinsk has been polluting the air. The service ruled the polluting equipment to be shut down. The service is preparing documents for the court to shut down the works for 90 days. Mechel-koks does not agree with the service…
DetailsChelyabinsk Iron and Steel Works, a part of Mechel, has successfully passed the re-certification audit for the compliance of its construction materials with the state standards. The company has received certificates for 14 types of products, including the flange beam, the manufacture of which has started in the beam-rail shop. The certificates allow the company…
DetailsIn 2016 Zaporozhogneupor increased tax payments to the local budget by 74%, or by 12.6 million UAH, to 29.6 million UAH. According to the company statement, in 2015 it paid 17 million UAH of taxes. The key factors for the increase of taxes in 2016 were the growth of salary by 23% and payments for…
DetailsThe Mariupol Ilyich Iron and Steel Works will have additional expenses of 700 million UAH following the increase of railroad tariffs, and 10% of its products will become profitless, the company CEO Yuri Zinchenko said. “In case of another tariff increase 10% of our 2017 orders will automatically become profitless. Why? Because the prime cost…
DetailsUkraine expects the European Union to cancel the antidumping duty on the import of steel ropes after almost 19 years, the deputy economy development and trade minister, the trade representative of Ukraine Natalia Mykolskaya wrote on her Facebook page. She noted, these were the last antidumping measures against Ukrainian export to EU. “These measures resulted…
DetailsThe mine named after Zasyadko in the pro-Russian terrorist-occupied Donetsk resumed operation after shelling. “The energy supply to the mine has been restored, the miners started working”, the separatist media report. The mine was cut off from electricity on January 31, following intense shelling. Some 200 miners remained underground. During the day they have all…
DetailsThe salary debts to state miners decreased by 83%, to 36.9 million UAH as of January 1. According to the Ministry of energy and coal industry, the debts decreased by 75.5% YoY, or by 111.66 million UAH. On the whole as of January 1, the state enterprises managed by the ministry and situated on the…
DetailsSteelmaker Severstal, controlled by Russian tycoon Alexei Mordashov, expects possible government claims to amount to about $400 million of taxes on dividends transferred to the British Virgin Islands through Cyprus companies in 2009-2015. The company said that the figure was based on 2015 changes in the law on controlled foreign corporations aimed at regulation of…
DetailsRussian oil and gas pipe maker TMK plans to sell 139 million common shares at 75 rubles per paper during a secondary public offering (SPO) to raise about 10.417 billion rubles from the placement, the company said in a statement. Earlier TMK said it launched the SPO to offer up to 139 million common shares…
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