Russia: Nesis buys Polymetal shares

Group IST of Alexander Nesis, through Powerboom Investments Limited, has increased its share in the gold-mining company Polymetal to 27.13% from 26.87%. Nesis bought 1.895 million shares, or 0.26% of the stake. As the shares are sold at around 10 GBP, the stake purchased can be estimated at 19 million GBP ($25.5 million). Out of…

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Russia: Evraz expanding sales markets

Evraz dispatched a batch of nodules produced at Kachkanarsk Mining and Processing Works to US Steel Kosice, the biggest steel mill in Slovakia. The nodules fully meet the customer’s requirements in chemical composition and physical properties. The content of iron in the nodules is above 60%; such high strength and solidity characteristics allow producing high…

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Ukraine: VostGOK to close uranium mine

Reserves of the Smolinskaya mine, a part of Vostochniy Mining and Processing Works, at the Vatutinskoye uranium deposit are below 1.4 thousand tons. The mine is expected to have finished operation at the deposits in 3-5 years. At present VostGOK operates at 4 uranium deposits: Vatutinskoye, Michurinskoye, Central and Novokonstaninovskoye. The first three have been…

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Ukraine: Mariupol Ilyich can’t use subsurface resources

The State Geology and Subsurface Service has cancelled 62 special allowances to use subsurface resources in Donetsk and Lugansk regions because of the absence of reports on mining in 2015-2016. The list contains among others Mariupol Ilyich Iron and Steel Works, Makeevugol and Dokuchaevsk Flux-Dolomite Complex. (Ukrainian metal)

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