In January-June MMK net profit increased by 24.7% YoY, to $671 million. Revenue grew by 16%, to $4.16 billion. EBITDA went up by 33.4%, to $1.21 billion. The group debts as of late June totaled $521 million. “The high financial results allowed the Board of directors to recommend paying $281 million of dividends for Q2”,…Details
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…Details
In 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%,…Details
The 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…Details
Out 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…Details
In 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)
In 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)
Rosgeologia 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.…Details
UGMK-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…Details
Vyksa Iron and Steel Works has supplied a batch of railroad wheels for high-speed passenger trains of its own design to Tver Car-Building Plant. The wheels can be used with speeds up to 200 km/h. Previously VMZ supplied wheels that could be used in passenger cars at the speeds up to 160 km/h. “In Q1…Details
In April-June Metalloinvest produced 10.1 million tons of iron ore, up by 2.3% YoY. Pellets output grew by 4%, to 7 million tons. HBI manufacture increased by 1.3%, to 1.2 million tons. The share of sales of iron ore products with high added value (pellets, HBI) increased to 72% from 69% in Q1. Pig iron…Details
Severstal has selected the supplier for the modernization of the zinc coating density-measuring system at the Cherepovets Iron and Steel Works continuous hot dip-galvanizing machines. TT Analytica (Russia) will design engineering, supply the equipment, assemble and commission it. The equipment will be used to create a uniform layer of zinc of the necessary thickness on…Details
Corum Group has concluded agreements on the delivery of heading machines to Polish mining companies Polska Grupa Górnicza (PGG) and Jastrzębska Spółka Węglową (JSW). According to the company statement, the machines will be leased for 5 years. The combined cost of the contracts is 5.3 million euro. The first machine, intended for JSW, will start…Details
In July Zaporizhstal increased steel output by 6% YoY, to 354.2 thousand tons. According to the company press service, pig iron manufacture grew by 29.4%, to 396.5 thousand tons, and rolled metal – by 2.2%, to 301.2 thousand tons. In January-June the company produced 2.393 million tons of steel, 2.537 million tons of pig iron…Details
In January-June Pobuzhye Ferronickel Plant increased ore processing by 6.1% YoY, to 679 thousand tons, or 35.284 thousand tons of ferronickel, down by 2.3%, or 7.5 thousand tons of nickel, down by 2.8%. In H1 the company expects to receive profit of some 2.3 million UAH. The average salary totaled 8038 UAH, up by 29.6%…Details
The supervisory board of Dneprospetsstal has once again prolonged the authorities of the acting chairman of the board Vitaly Kornievsky for 3 months. On April 23, 2009 the supervisory board relieved Daniel Valk of his duties, having appointed the ex-CEO of Dneprovsky Iron and Steel Works named after Petrovsky, Vitaly Kornievsky instead. His office has…Details
In January-June Tajik Aluminum Company produced 54.8 thousand tons of primary aluminum, down by 3 thousand tons YoY. The decrease in output has to do with the capital repairs of the machinery to reduce electricity consumption. The repair is expected to be completed this year, after that output will grow again. Some 48 thousand tons…Details
On July 31 an accident happened at Azovstal resulting in the death of one person, while another was rushed to hospital. Two employees of a subcontractor firm fell from on high while carrying out repair work in the coke shop. As the result of the fall one person died, and another was taken to the…Details
In April-June the segment of Africa and CIS (ACIS) of ArcelorMittal increased EBITDA by 9.1% QoQ and 2.28-fold YoY, to $397 million. According to the group statement, H1 EBITDA grew 2.1-fold, to $760 million. Steel output decreased by 16.2% YoY and by 9.2% QoQ, to 3.087 million tons due to the problems at ArcelorMittal Kriviy…Details
The prices for gold and silver bars in Azerbaijan decreased, while the prices for other precious metals increased on August 1, according to the data published by the Central Bank. The price of gold decreased by 2.3035 manats, to 2075.751 manats per ounce, compared to the price on July 31. The price of silver decreased…Details
Russian steelmaker Novolipetsk Steel (NLMK) plans to raise production in July-September as compared with April-June, the company said in a presentation. Operating results of Russian facilities of NLMK are traditionally strong in July-September, which should improve financial results of the company, NLMK said. The company’s steel production rose by 1% QoQ, to 4.381 million tons…Details
Velikomostovskaya mine of the state enterprise Lvivugol has put a new long face No. 114 into operation.
The face reserves are estimated at 162 thousand tons of coal.
The length of the long face will be 80-120 meters.
It was expected to mine 3750 tons of coal in late July there. (Ukrainian metal)
In January-June DTEK Energo mined 11.4 million tons of coal, down by 15% YoY.
Coal processing reached 8086.3 thousand tons.
Concentrate output totaled 4897.8 thousand tons. (Ukrainian metal)
On October 1 Bystrinsky Mining and Processing Works intend to supply the first batch of dry magnetite concentrate (2.948 thousand tons) to China. The drying shop has already been commissioned. Its construction began in 2016. From now on the company can supply magnetite concentrate in winter as well. The total volume of magnetite concentrate to…Details