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KAZ Minerals will get controlling stake and the possibility to buy out the project to develop a large Baimskoye copper deposits in Chukotka, Russia, belonging to Roman Abramovich, Alexander Abramov and their partners. The company is buying 75% of the project for $675 million ($436 million in money and the rest in shares) and gets…
DetailsIn January-June Metinvest increased steel output by 4% YoY, to 3.79 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased output by 8%, to 1.613 million tons and Azovstal – by 1%, to 2.181 million tons. Pig iron manufacture grew by 14%, to 4.292 million tons, with Mariupol Ilyich output up by 23%,…
DetailsThe prices of precious metals in Azerbaijan decreased on August 2, according to the data published by the Central Bank. The price of gold decreased by 3.876 manats, to 2071.875 manats per ounce on August 2 compared to the price on August 1. The price of silver fell by 0.0997 manats, to 26.1991 manats per…
DetailsOut of 33 state mines, situated on the Ukraine-controlled territory, only 4 are profitable. On the whole Ukraine has 102 state mines, but most of them are situated on the uncontrolled territory. In January-May state coalmining decreased by 3.6% YoY, while coal cost grew by 30.5%. On July 9 Novovolynskaya mine No. 9 stopped operating…
DetailsIn January-June Hiagda overfulfilled its uranium-mining plan by 5%. At the same time, thanks to the measures to improve manufacturing efficiency the company was able to decrease prime cost of the products by 8%. This year the company intends to construct a high-voltage line and a road to the Kolichikanskoye deposits. (Ukrainian metal)
DetailsIn January-June Kimkano-Sutarsky Mining and Processing Works LLC produced 1.059 million tons of iron ore concentrate, up more than 2-fold YoY. In Q2 concentrate output grew by 53%, to 580.9 thousand tons. Sales have also increased 2-fold, to 10.46 million tons. All the iron ore concentrate is exported to China. (Ukrainian metal)
DetailsRosgeologia will carry out prospecting works of the cobalt-rich ferromanganese crusts on the territory of the Russian prospecting region within the Magellan Hills of the Pacific Ocean. The corresponding agreement was concluded with the Department on subsoil use of the Northwestern Federal District in June. The project is expected to be completed in Q4 2020.…
DetailsUGMK-Stal has received another asset – the mining enterprise Boguslavskoye Mine Group. The enterprise mines iron ores and processes iron ore concentrates, as well as produces construction crushed stone. The enterprise possesses the Severopeschanskaya mine, a crushing factory and a number of auxiliary departments. Its annual output is 2.4 million tons of ore and 1.2…
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