In Q4 2018 MMK revenue decreased by 6.2% QoQ, to $1962 million. EBITDA fell by 20%, and the margin was 27.4%. Net profit totaled $245 million. In 2018 revenue increased by 8.9% YoY, to $8214 million, mostly because of the average price growth (by 8% or by $46 per ton). EBITDA went up by 19%,…Details
The Ministry of Finances proposes canceling VAT on gold in ingots, as investment in precious metals is a good way for accumulation. Now people have to pay a 20% VAT when buying ingots from banks. While when selling ingots, the VAT is not returned, which makes purchase less attractive. Hence the low demand – some…Details
ArcelorMittal Temirtau has received new machinery for its converter shop continuous casting machines Nos. 1 and 2. The new equipment – segments, crystallizers and benders – was purchased in Italy from Danieli under an investment project. “This project will improve the working conditions of both machines and the quality of the billets”, the company said.…Details
An expert commission has finished evaluating the assets of Ufaleinickel.
The company went bankrupt some 18 months ago.
The auction could be held in summer.
The combined cost of the lots is around 1 billion rubles.
Two investors are already mulling the purchase of the works. (Ukrainian metal)
The arbitrary court of the Volgograd region has prolonged the bankruptcy proceedings at the Krasniy Octyabr works from February 10 for 4 months. Thus, the petition of the proceedings manager Alexander Lyubimenko has been partially met. He claimed the enterprise received assets valued at 487 billion rubles – 854 ordinary shares. Now they need to…Details
NLMK-Kaluga has started producing a new type of metal for construction – 100 mm-long channels with parallel sides.
A batch of 3 thousand tons has been shipped to customers in the Central Federal District.
Imports in the segment in 2018 reached 32%, up by 6% YoY. (Ukrainian metal)
Chelyabinsk Pipe Rolling Plant has provided a loan of 1.14 billion rubles to a company it controls – Meta.
The agreement was signed on February 5.
The funds have to be returned not later than on June 30, 2020.
Meta provides ChTPZ with scrap. (Ukrainian metal)
Gold producer Nordgold, controlled by the Russian tycoon Alexei Mordashov, plans to invest more than $360 million over the next 15 years in development of the Lefa mine in the Republic of Guinea. “Nordgold is pleased to announce that a new mining permit will be effective starting from March 21. The new permit as well…Details
In 2018, demand for steel continued to recover, coupled with a rise in protectionism in key markets. “In this context, NLMK Group’s flexible business model that helped it secure its presence in key sales markets, enabled the company to grow its sales by 7% YoY, or by 1.1 million tons, to 17.6 million tons, hitting…Details
Residents of Akolon village in Ton district of Issyk-Kul region oppose development of Tash-Bulak uranium deposit, local activist Akzholtoi Tukunov reported. According to him, the villagers intend to hold a rally against the development of the uranium deposit. “Villagers are concerned about the health, the future of our children, since we do not know how…Details
The project to develop Ozernoye lead-zinc deposit in the Republic of Buryatia has been presented to the president representative in the Far East District, Yuri Trutnev, in order to receive state support. The license from December 2018 is owned by Ozernoye LLC. The deposit is one of the 10 largest zinc deposits in the world.…Details
In 2018 Vostsibugol, developing coal deposits in Irkutsk and Krasnoyarsk region, mined 15.5 million tons of coal, up by 12.3% YoY. The output at Cheremkhovsky pit was 4.6 million tons, up by 22%. Tulunugol pit yielded 7.5 million tons, up by 10%. Coal extraction at Zheronsky pit grew by 19%, to 861 thousand tons. 2.6…Details
In 2018 GRK Darkhan LLC, developing the Kirchenovskoye deposit in Zabaikalye, sold 327.3 kg of gold and 17 tons of silver, up 1.9-fold and 2.5-fold YoY respectively. The increase is due to the growth of ore processing. While in 2017 Darkhan processed 83 thousand tons of ore, in 2018 it processed 303.1 thousand tons. Revenue…Details
In January Tulachermet set a new record on monthly pig iron output operating just two blast furnaces. Last month the company produced 216.768 thousand tons of pig iron, having exceeded the target by 8.768 thousand tons. The previous record was set in December 2018 – 215.24 thousand tons. Tulachermet has been steadily increasing pig iron…Details
Some 300 miners have blocked the Vinnichenko street in Lviv, where the Lviv regional state administration is situated. They demand clearing salary debts. Prior to that the miners have marched through the central streets of the city. They claim they have so far received only half of their December 2018 salary, and nothing for January.…Details
The metal companies are prepared to invest in the state system of education. According to Metinvest director on personnel Alexander Pimkin, at present the state does not do all the necessary things to reform the education system. “The approach to and the volumes of financing on behalf of the state are not enough”, he said.…Details
In January Energomashspetsstal produced and shipped a gondola frame for the Atomwind-Kramatorsk wins plant at the order of Furlender Windtechnology LLC. The weight of the casting is 33.7 tons. This is the third frame manufactured under the project. In February EMSS will ship another frame. The contract was concluded in 2018. According to it, EMSS…Details
Technoinvest Alliance has once again postponed the terms of launching the mining and processing works on the basis of the largest rare-earth metals deposit in Russia (Zashikhinskoye) – this time to late 2023. The terms have been postponed since 2014. Initially it was intended to start the construction of the works with the capacity of…Details
In 2019 Vorkutaugol will increase investments in development by 18% YoY, to 6.2 billion rubles. Most of the funds – 2.7 billion rubles – will be spent to replace outdated mining and processing machinery, as well as cargo and passenger transport. The construction of the ventilation shaft No. 4 at the Zapolyarnaya mine, the ventilation…Details
In 2019 the demand for Russian steel will be weak.
“Construction volumes are not large, so, we believe the market will remain on current levels”, Severstal deputy CFO Alexei Kulichenko said.
According to Severstal estimate made in November 2018, the growth of the local demand for steel in 2018 was 1.1%. (Ukrainian metal)
In 2018 Primorsky Mining and Processing Works extracted 267 thousand tons of tungsten ore. The mining company AIR extracted 2574 tons of tungsten and copper concentrate. The results are up by 6% and 15% YoY respectively. Primorsky GOK sold 840 million rubles worth of ore last year, up 1.5-fold, and AIR – 3 billion rubles,…Details
In 2018 Izhstal sold over 63 thousand tons of metal to local machine-building enterprises, up by 22% YoY. The company mostly supplies stainless, heat-resistant and corrosion-resistant steel for the manufacture of various spare parts and machines, as well as springs and bearings. “Machine-builders are our traditional customers. Their share last year was 26%”, the company…Details
Metinvest has finalized the deal to buy Unisteel LLC in Kriviy Rih. “We expect the company to manufacture new products – the so-called structure rolled metal with the thickness of over 1.6 mm to be used in construction”, Metinvest-SMC CEO Dmitry Lippa said. Unisteel can also produce thinner rolled metal – 0.45 mm. The works…Details
Output of thermal and coking coal in Ukraine in 2018 increased by 0.9% YoY, from 33 million to 33.29 million tons. State-owned coalmines during the reporting period extracted 4.14 million tons of coal, according to the Ministry of Energy and Coal Industry of Ukraine. In particular, the output of coking coal, used for the needs…Details