Russian billionaire businessman Viktor Vekselberg is weighing the purchase of a stake in aluminum giant UC Rusal from Mikhail Prokhorov’s Onexim Group, Vekselberg said. The acquisition is being “seriously considered”, Vekselberg noted, declining to give any details on the terms of a potential deal. Onexim made informal approaches this year to sell its 17% stake…Details
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The minister of energy and coal industry Igor Nasalik has not cleared all the salary debts to state miners by the Miners’ Day. He promised to do this in mid-July. As of August 31, the employees of at least one mine haven’t received their salary, those of Novovolynskaya No. 10, who have blocked the road.…Details
On September 1, Metinvest created the operational directorship on the basis of its mining and metal divisions. “Thus the group completes the process of creating the vertically integrated structure of the company under the Technological strategy of 2010”, Metinvest reported. The main goal of the transformation is the better cooperation of mining and metal assets,…Details
In January-June Chelyabinsk Zinc Works received 12.53 billion RUR of profits, up by 4.11% YoY. The company gross profits dropped by 4% YoY, to 3.64 billion RUR, while its net profits decreased by 40.72% YoY, to 1.85 billion RUR. According to the company statement, the net profits drop was the result of the zinc and…Details
The State Property Fund of Ukraine will try to sell 37.578% of Lviv Coal Company again. According to the fund statement, the shares will be put up for sale on September 27, at the Ukrainian Stock Exchange with the starting price of 41.34 million UAH. SPF tried to sell the Lviv Coal Company shares in…Details
Corum Group is negotiating ways to enter markets of Turkey, Iran and India. According to the company CEO Yakov Sidlyarenko, Corum Group’s current primary goal is to increase export sales in Kazakhstan, Belarus, Russia, Poland and Vietnam. (Ukrainian metal)Details
In August Zaporizhstal decreased pig iron, steel and rolled metal output. In particular, according to the company statement, it produced 297.3 thousand tons of pig iron, 322.2 thousand tons of steel and 275.1 thousand tons of rolled metal, down by 29 thousand tons, 27.5 thousand tons and 15.6 thousand tons YoY, respectively. (Ukrainian metal)Details
In January-August Ukraine produced 16.43 million tons of carbon steel, up by 9.3% YoY. Pig iron manufacture went up by 14.5%, to 15.99 million tons, that of rolled metal – by 8.7%, to 14.34 million tons. Metallurgical coke output jumped up by 17.6%, to 8.64 million tons, while that of steel pipes dropped by 4.8%,…Details
Rusal announced senior staff appointments within Aluminum Division. Oleg Buts has been appointed Managing Director of Irkutsk Aluminum Smelter (IrkAZ). Prior to the appointment, Buts worked as the Director of Department for Production System Training at Production Development Directorate of Rusal. He will replace Evgeny Kuriyanov, who has been appointed Managing Director of Krasnoyarsk Aluminum…Details
The President of Ukraine Petro Poroshenko attended Azovstal Iron and Steel Works operating under umbrella of Metinvest Group as part of his visit to Mariupol. At the enterprise, he had a look at the blast furnace No. 4, which is one of the most modern and environmentally friendly furnaces in Ukraine. The facility has been…Details
Corum Group estimates its share on the Ukrainian market of mining machinery in 2015 at 52%. According to the company CEO Yakov Sidlyarenko, local sales in 2015 dropped by 6.6% YoY, to 72.7%. Corum is the largest mining machinery manufacturer in Ukraine and a part of System Capital Management. (Ukrainian metal)Details
Shareholders of Ordzhonikidze Mine-Repairing Works have expanded the supervisory board from 3 to 4 members. According to the company statement, Alexei Polyakov, Nina Laschenko and Alexander Lebed ceased to be members of the board. They have been in the office since April 15, 2014. At the same time, deputy chairman Igor Yuzkov, owning 315.4 thousand…Details
In June Metinvest EBITDA reached $119 million, down by 41.3% MoM. According to the company statement, its revenues in June totaled $559 million as opposed to $533 million in May. Metallurgical division of the company showed an upward trend. Its revenues increased from $423 million in May to $455 in June. EBITDA went up from…Details