Strategy 2017 target of $1 billion annual EBITDA gains has been achieved – Strategy 2017 delivered structural annual EBITDA gain of $1,019 million. Management initiatives contributed around $740 million (over 70%) to the result. The company expects additional gains of around $160 million in 2018 generated by recently completed investment projects. Full self-sufficiency in iron…Details
Zonoville Investments Limited, a consortium comprising multi-industry holding Renova Group of the businessman Viktor Vekselberg and Access Industries of Leonard Blavatnik, intends to acquire a 6% stake in Russian aluminum giant UC RUSAL from Onexim Group of tycoon Mikhail Prokhorov. After the deal in closed, Zonoville and its associate Sual Partners Limited will jointly control…Details
The net profit of Russian steelmaker NLMK jumped by 55% YoY, to $1.45 billion in 2017, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on February 20. Revenue grew by 32%, to $10.065 billion due to an increase in average prices for metals products, a growth of sales volumes,…Details
In January Kazakhstan’s production of raw gold and semi-processed gold, or in powder form, increased by 8.7% YoY and amounted to 5,978 kg. According to the Statistics Committee of the Kazakh Ministry of National Economy, in the reporting period the production of raw silver and semi-processed silver, or in powder form, was equal to 59,644…Details
The state mines in Donbas have received 365 million UAH transferred to partially clear salary debts.
Vice-prime-minister Vladimir Kistion thanked the ministries involved for quick solving of the problem.
Still, miners are striking at all the four mines of the state enterprise Selidovugol. They demand clearing their January salary debt. (Ukrainian metal)
A new shop to produce metal wares valued at 3.2 billion rubles will be created in the Abinsk district of Krasnoyarsk region. The shop will produce some 200 thousand tons of wire and rebars and will provide 400 jobs. “Output-wise Abinsky Electrometallurgical Works is already among the global leaders, and its products are well known…Details
Within the Industrialization map the South-Kazakhstan region will carry out 20 projects valued at 40 billion tenge. As the result, some 1500 jobs will be created, and the volume of industrial output will reach 920 billion tenge. In particular, according to the region governor Zhanseit Tuymebayev, a metal works will be constructed. Investments will total…Details
KAZ Minerals is pondering the acquisition of the Baimskoye copper-gold deposits in Russia from Roman Abramovich. The Baimskoye reserves are estimated at 9.6 million tons of copper with average contents of 0.43% and 16.5 million ounces of gold (0.23 g per ton). Investments in the deposit could reach $1.8 billion. The project envisages the construction…Details
In January KMZ shipped 2 railroad cars (120 tons) of ferromanganese to Mongolia.
The shipping of 2 more cars to Darkhan Metallurgia Ltd is planned for February.
Following the successful negotiations with Divatsogt, KMZ will supply ferromanganese to Mongolia on constant basis. (Ukrainian metal)
Polymetal International plc has concluded an agreement on increasing its share in the Prognoz silver deposits to 50% by acquiring 45% for $72 million to be paid in Polymetal shares. Prognoz is the largest undeveloped deposit of primary silver in Eurasia. Its resources are estimated at 292 million ounces of silver with the content of…Details
Evraz and the Russia Railways have concluded a new long-term agreement on the delivery of rails. The document will be valid for 5 years. According to the agreement, Evraz will supply 3.2 million tons of products valued at 111.7 billion rubles to RZhD. The contract stipulates the gradual increase of 100-meter rails deliveries to 360…Details
Ukrvtorchermet has applied for debt restructuring procedure.
The volume of the debt is not disclosed.
Ukrvtorchermet procures and processes ferrous metals scrap and waste.
Metalinvest Ltd LLC owns 98.0344% of the company. (Ukrainian metal)
In January Dneprospetsstal produced 20591 tons of steel, down by 10.7% MoM.
Rolled metal output dropped by 4.6%, to 13818 tons.
The total cost of products manufactured in January was 780572 thousand UAH, down by 3.2% MoM. (Ukrainian metal)
In January Russia produced 4.5 million tons of pig iron, down by 0.9% MoM, but up by 2.2% YoY. According to the Federal Service of State Statistics, rolled metal output increased by 3.5% YoY, but dropped by 5.8% MoM, to 5.1 million tons. Pipe manufacture reached 0.954 million tons, up by 14.9% YoY, but down…Details
In January Zabaykalye region decreased lead output by 4% and zinc – by 3% YoY, while tungsten concentrate output dropped by 37%. As of February 1, the region yielded 87.8 tons of tungsten concentrate. Only Novoorlovsky GOK is mining for the concentrate at present. Lead and zinc output reached 4400 and 2580 tons respectively. Last…Details
Stepps East LLC plans to carry out prospecting works at the Mutnovskoye gold, silver and polymetal deposits in order to construct a mining and processing works there. The deposits are situated 60 km south of the city of Petropavlovsk-Kamchatski. It is believed, that apart from gold and silver, the field contains considerable reserves of lead,…Details
Atomredmetzoloto intends to start mining for gold at the Severnoye deposits in Yakutia. The Severnoye uranium deposits are a part of the Elkon uranium ore district. The designing of the uranium works was put on hold in 2011 after world prices fell drastically following the Fukushima accident. In 2019-2020 the company will carry out prospecting…Details
Energomashspetsstal has prepared another batch of 22 billets for the construction of the Akkuyu nuclear power plant in Turkey. EMSS is the main supplier of billets for the NPP key machinery. Under the contract, representatives of the customer visited the company to inspect the billets produced. The acceptance of the products was carried on February…Details
Laboratory of Innovative Technologies has become the first company on the territory of the ex-USSR to start processing rare-earth metals. Previously all concentrates have been processed abroad, and then returned back to Russia as oxides, metals and alloys. From now on Russia will be processing them itself. All the products manufactured will be sold on…Details
On February 16 the state enterprise Lvivugol cleared its salary debts of 2017.
In particular, the enterprise received 10 million UAH from the state company Coal of Ukraine.
On January 4 Coal of Ukraine transferred 21 million UAH to pay salary to Lviv miners for November 2017. (Ukrainian metal)
The U.S. Commerce Department has suggested Washington introduce prohibitive import duties on steel and aluminum from Russia, China, and other countries to boost local production and employment. The department suggested a 53% duty on steel imports from Russia, Brazil, China, Costa-Rica, Egypt, India, Malaysia, South Korea, South Africa, Thailand, Turkey, and Vietnam and a 24%…Details
The Far Eastern Development Fund (FEDF) and China Gold intend to sign documents to establish a joint fund for gold mining investment, including the Klyuchevskoye field near Lake Baikal, head of FEDF Alexei Chekunkov declared. “We with the Chinese partners have agreed that with a high degree of probability this deal will become the first…Details
Russian tycoon Oleg Deripaska plans to resign from the president positions at aluminum giant UC RUSAL and multi-industry holding En+ Group. Deripaska will remain a non-executive director at boards of directors of the companies. Current CEO of En+ Maxim Sokov will become the president of the holding, while RUSAL CEO Vladislav Solovyov will become the…Details
The government of Tajikistan has bought 5% of shares in the Zarafshon gold mining facility, a Tajik-Chinese joint venture, for $1, a source in the Tajik government said on February 15. The agreement with the Chinese side was signed by Farrukh Hamralizoda, head of the Tajik State Property Committee, on the instruction of Tajik President…Details
The state enterprise Yuzhnodonbasskoye No. 1 Mine Group has ordered the Girnyk LLC the work to replace reinforcing of the cage shaft valued at 15.17 million UAH.
The works have to be carried within 3 months.
The contractor has to provide a 12-months guarantee. (Ukrainian metal)
PJSC ArcelorMittal Kriviy Rih (Dnipropetrovsk region) after blocking the receipt of raw materials from the territory temporarily uncontrolled by Ukraine has started purchases in the Russian Federation. Girish Sardana, the head of the company’s supply department, said that basically the problems in 2017 concerned the supply of raw materials. According to him, “in connection with…Details