Because of high debts and lack of funds for development Mechel has lost licenses to develop Pionerskoye and Sivaglinskoye iron ore deposits in Yakutia with combined reserves of over 160 million tons. In December 2019, the Russian Subsoil Use Service stopped Mechel’s right to use the deposits ahead of schedule. The company has not fulfilled…Details
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Rusal is concluding a contract with Glencore to supply 6.873 million tons of primary aluminum in 2020-2024. The value of the contract is estimated at $16.3 billion. In 2025, the contract is expected to be prolonged. The previous contract was valid in 2011-2018 and provided for the delivery of 14.5 million tons of aluminum. This…Details
Non-Ferrous Metals Processing Works (Donetsk region) has postponed its annual shareholders meeting scheduled for April 15 for a later date. In 2019, the company received a net profit of 44.43 million UAH, as opposed to a net loss of 25.906 million UAH in 2018. Current liabilities decreased by 9%, to 849.284 million UAH and fixed…Details
The mine named after Kirov, a part of SUEK-Kuzbass, has received 203 sections of JOY 13/26 mechanized anchoring. The cost of the contract is over EUR 38 million. The mine uses two mechanized complexes. One of them, consisting of 175 sections of FRS-Glinik-12/26 anchoring, was commissioned in 2018. The second – JOY – has been…Details
Corum Svet Shakhtera Works has carried out unusual tests of new machines for Belaruskaliy, one of the largest mineral fertilizers manufacturers in the world. The customer was able to study the structure of innovative transformer substations and witness their operation online. Belaruskaliy ordered 16 substations. Following successful tests, the first batch of transformer substations is…Details
From this year on, MMK-Metiz has shifted its birthday from October 1 to April 5. The development of metal wares manufacture in the city of Magnitogorsk started in September 1941, when machinery from 6 plants was evacuated. On April 5, 1942, a decree was signed on the commission of Magnitogorsk Metal Wares Plant. And on…Details
Priisk Solovievskiy LLC has started washing season at the alluvial gold sites in Amur and Zabaikalye regions. Four dredgers have been commissioned after repairs. Two are operating at the Oldoy quarry in Amur region. Solovievskiy ore deposit is operating in normal mode. In Zabaikalye region, operation has started at the Zabaikalskiy quarry. In January-February, the…Details
In January, Russia exported 59.6 thousand tons of refined copper, down by 8% MoM, but up by 35% YoY. Price grew from $5.8 to $5.9 per kg. Deliveries to China increased by 8%, to 25.3 thousand tons, and to Germany – from 1.3 thousand tons to 9 thousand tons. At the same time sales to…Details
Alexei Mordashov, chairman of the board of directors of Severstal, has ordered the company to distribute 500 million rubles to the employees as compensation for the coronavirus pandemic, Severstal said in a statement on April 6. It is important to support each employee as they have different problems with transportation, services, purchase of medicines, and…Details
Mechel Group’s sales network Mechel Service is supplying steel rolls for construction of infectious disease hospitals designed to fight coronavirus all over Russia. As part of the government’s plan to prevent the spread of coronavirus, rapidly erectable medical centers designed for fighting infectious diseases are being built. Construction works are held round the clock. Russia’s…Details
Last week, the price of one ounce of gold decreased by 42.4048 manats (by $24.9). The average price of one ounce of gold stood at 2,725 manats ($1,602). The price of one ounce of silver decreased by 0.58984 manats ($0.03), to 24.00616 manats ($14.1). The price of one ounce of platinum dropped by 30.4024 manats…Details
In January, Russia exported 1.4 thousand tons of raw chrome, down by 11% MoM, but up by 19% YoY. Price dropped by 6%, to $5.8 per kg. Deliveries to the Netherlands fell by 18%, to 768 tons, and to the USA – by 5%, to 453 tons. In 2019, exports totaled 19 thousand tons, unchanged…Details