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In December, Sukha Balka commissioned two new blocks with combined reserves of 115 thousand tons of iron ore. Thus, the block 51-57 of the Druzhba deposit at the depth of 1210 meters was commissioned at the mine named after Frunze. The block will be in development for two months. The Yuvileyna mine launched the block…
DetailsEmployees of Kumtor Gold Company CJSC insure their movable and immovable property with State Insurance Organization OJSC, the press service of the gold mining company reports. Recognizing the importance of insuring personal property, many employees of the company responded to the State Insurance Organization’s invitation to insure apartments, houses and summer cottages against fire and…
DetailsAzerbaijani Parliament has ratified the agreement on Soyudlu (Zod) gold mine. At a session on December 27, the bill of the Republic of Azerbaijan on adoption and approval, authorization for implementation of the “Agreement on restoration, exploration, development, share of production of gold mine of Soyudlu (Zod)” was submitted for discussion. Following the discussions, the…
DetailsThe Cabinet of Ministers has approved the list of products, the export and import of which are subject to licensing. The export quotes for gold and silver (except for bank metals), as well as precious metals scrap are set at zero. At the same time, the quote for coking coal export is set at 1.3…
DetailsIn January-September, the volume of capital investments in metal industry increased by 39.7% YoY, to 8.47 billion UAH. According to the State Statistics Service, in the first quarter investments amounted to 2.21 billion UAH (+67.4%), in the second – 2.85 billion UAH (+47.7%) and in the third – 3.4 billion UAH (+21.2%). Capital investments in…
DetailsIn January-June, Armenia increased exports of copper, zinc and molybdenum concentrate, as well as ore containing precious metals. In particular, exports of copper concentrate grew by 14.5%, to 168.4 thousand tons valued at $267.6 million, up by 17.1%. The main buyer was China (71.6%), followed by Bulgaria (13.9%), Serbia (5.6%), Switzerland (4.4%), Russia (2.5%) and…
DetailsIncrease of railroad cargo transportation by 37%, planned by Ukrzaliznytsia, will have catastrophic consequences for the economy, as it will lead to shut down of strategic enterprises and to the drop in revenue. Taking into account the state of the domestic industry, the government must impose a two-year moratorium on the increase of Ukrzaliznytsia tariffs…
DetailsInterpipe is upset by the decision to increase electricity transportation tariff by 29.8%, which will further increase product prime cost and decrease capacity loading. The company is one of the largest industrial consumers of electricity in Ukraine. Thus, it is quite natural that any increase in electricity tariff will increase its products’ prime cost and…
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