Metalloinvest net profits increased 2.2-fold YoY in January-March, to $391 million. The company earnings went up by 85.1%, to $1.52 billion rubles, mostly thanks to the considerable increase of iron ore and steel products average prices, as well as the increase of high added value products sales. EBITDA jumped 2.9-fold, to $527 million. The mining…
DetailsThe net profit of Russian metals and mining group Mechel, attributable to shareholders, jumped to 13.902 billion rubles in January-March from 312 million rubles in the same period of 2016, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 31. Consolidated revenue increased by 24%, to 77.414 billion…
DetailsIn 2016 Zaporizhstal increased profits by 89.6% YoY, to 5.2 billion UAH ($201 million). According to Metinvest statement, Zaporizhstal earnings dropped by 9.7%, to $1.321 billion, while its EBITDA increased by 7.8%, to $165 million. Metinvest owns 49.9% of Zaporizhstal shares, 24% of Zaporozhye Iron Ore Complex, 42.8% in Zaporozhkoks and 49.2% in Zaporozhogneupor. Yuzhniy…
DetailsIn 2016 the net profit of Metinvest totaled $118 million as opposed to $1.003 billion of net losses in 2015. EBITDA increased 2-fold, to $1.153 billion. Among other things, the EBITDA increase was the result of the drop of raw materials prices, mainly coal, coke and scrap (by $94 million), partially compensated for by the…
DetailsThe average monthly salary in Vologda region in January-March increased by 5.2% YoY, to 30361 rubles. According to the Vologdastat, in March the increase was even larger – 6.6% MoM, to 31794 rubles. The leaders are still the Cherepovets chemical enterprises, followed by Severstal, which increased average salary by 4.9%, to 69068 rubles in Q1.…
DetailsVyksa Iron and Steel Works will produce wheels of premium quality for the innovative trains of the Moscow subway. By the end of the year VMZ will have supplied 3 thousand wheels of new type to the manufacturer of wagons – Metrovagonmash. The diameter of the wheels produced of L-grade steel will be 860 mm.…
DetailsIn January-April Rusal saved 25.56 million rubles by decreasing electricity consumption. The company is one of the developers and initiators of implementation of a new mechanism in electricity consumption in Russia and the only company to participate in the program of the price-dependant decrease of electricity consumption, having joined it in 2017. The mechanism presupposes…
DetailsA batch of large diameter pipes produced at Zagorsky Pipe Works will be delivered to one of the most eastern parts of Russia using the multi-modal transportation. The lot includes 820 and 1020 mm diameter pipes produced under GOST 20295-85. The pipes will be used in the construction of the heating pipeline. At first the…
DetailsGold bars of Kara-Balta refinery meet international standards. This is confirmed by a special LBMA certificate issued to the enterprise. As the press service of Kyrgyzaltyn OJSC reported, the refining plant has successfully passed certification according to LBMA standards (London Bullion Market Association). The document confirms that, since 2016, the production at the refinery has…
DetailsThe Stepnaya mine in Pershotravensk, Dnieporpetrovsk region, has put into operation a new long face with reserves of over 800 thousand tons of coal. According to DTEK, the owner of the mine, investment in the development reached 70 million UAH. The new long face is expected to yield some 3 thousand tons of gas coal…
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