The Polymetal board of directors has approved of a payment of special dividends for 2019 in the amount of $0.2 per ordinary share. The total amount of dividends to be paid is $94 million. The dividends will be paid on March 5 in dollars. (Ukrainian metal)Details
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Mikhailovsky Mining and Processing Works has received a new locomotive. The machine will be used to transport cargo from the Pogruzochnaya station to the Kurbakinskaya station of the Moscow Railroad. The new locomotive helps decrease fuel consumption and has improved labor conditions. (Ukrainian metal)Details
In 2019 Metinvest increased steel output by 3% YoY, to 7.578 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased manufacture by 321 thousand tons due to the commission of the continuous casting machine No. 4. At the same time, Azovstal decreased output by 66 thousand tons because of the pig iron production…Details
Russian Railways has agreed with Kazakhstan on a 65% discount on Russian coal transit to China, Deputy CEO Alexei Shilo has said at a briefing. “Since we cannot move from Kuzbass to the East via Mariinsk–Mezhdurechensk with the amount that the cargo consignors want, we have offered: let’s see how to go to Kazakhstan and…Details
In 2019 Metinvest increased iron ore concentrate output by 6% YoY, to 29.028 million tons. The increase was due to the growth of ore mining, machinery fleet update and the increase of its efficiency at Severniy Mining and Processing Works. In Q4 2019 concentrate manufacture remained almost unchanged QoQ, at 7.278 million tons. (Ukrainian metal)Details
A Ukrainian court has limited 50.3% of Ferrexpo Poltava Mining (FPM) shares, belonging to Ferrexpo AG Switzerland, the only shareholder. Ferrexpo AG says the arrest does not affect the ownership of the shares, but prohibits their transfer. The group believes this is connected with issues of the company beneficiary Konstantin Zhevago and a company he…Details
The World Bank intends to support the mitigation of social and environmental impacts of the coal industry restructuring in Ukraine, according to the Ministry of Energy and Environmental Protection. “The World Bank, with the support of the European Commission and other international financial institutions, intends to support the mitigation of social and environmental impacts as…Details
Russian Copper Company is studying the opportunity to buy the property of the bankrupt Ufaleinickel. “Due to the complex social and economical situation in Verkhniy Ufalei because of the shutdown of the town-forming enterprise, the authorities of the Chelyabinsk region have asked the Russian Copper Company to invest in the organization of manufacture. So far,…Details
The supervisory fund of Zaporozhye Aluminum Works has elected Sergey Ignatovsky, the deputy chairman of the State Property Fund, its chairman. The decision was taken on January 23. Ignatovsky was appointed the supervisory fund member on December 23, 2019. The same day, the supervisory board appointed Sergey Kizilov the acting CEO of ZALK, having relieved…Details
The Severstal board of directors recommends paying dividends in the amount of 26.26 rubles per ordinary share for October-December 2019. The decision is expected to be approved at a shareholders meeting scheduled for June 5. (Ukrainian metal)Details
In 2019 Kola Company, a part of Norilsk Nickel, increased nickel output by 5%, to 229 thousand tons. Nickel manufacture of own raw materials totaled 225 thousand tons. Copper production grew by 5%, to 499 thousand tons, with 455 thousand tons produced of own raw materials. Bystrinsky GOK manufactured 43 thousand tons of copper. Nornickel…Details
On February 1 Magnitogorsk Iron and Steel Works turns 88. The enterprise was created at the foot of the Magnitnaya mountain. The first blast furnace produced the first pig iron on February 1, 1932. The first open-hearth furnace started operating in July 1933, and in August 1934 the company commissioned the 500-mill. In late 1980s…Details
Kamensk-Uralsky Non-Ferrous Metals Processing Works will start manufacturing aluminum powder in the amount of 1008 tons per year to be exported to Kazakhstan. Aluminum powder is used in the manufacture of aerated concrete. The Fund of the industry development has already approved of a company loan. The total cost of the project is 200 million…Details