Oleg Ryabko has been appointed the new CEO of the scrap-procuring group of companies Meta. In his new office Ryabko will be responsible for the management of the scrap-procuring business, improving its efficiency, reaching financial and manufacturing goals, etc. Andrei Pavlov, who has previously managed the company, decided to leave the office as his contract…Details
Earnings before interest, taxes, depreciation and amortization (EBITDA) of the Russian pipe producer TMK increased by 13% YoY, to $160 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on May 18.
Revenue grew by 35%, to $1.274 billion. (Prime/Ukrainian metal)
It is the first time during 12 years when there is a threat of financial crisis to the company. The reason is evident – dramatic drop in production output. Initially it was caused by stoppage of half of BFs, then failed attempt to restart BF-9 after capital repair, and finally the recent actions of the…Details
The cost of precious metals varied in Azerbaijan on May 18, according to the data published by the Central Bank. The cost of gold and silver increased, while the cost of platinum and palladium decreased on May 18 compared to May 17. The cost of gold increased by 0.628 manats, while the cost of silver…Details
In January-April Moldova Iron and Steel Works increased bars output 2-fold YoY, to 185 thousand tons. The increase has to do with a low comparison base because of the limited scrap supplies in 2017. Rebars manufacture increased 2.6-fold, to 110 thousand tons, while that of wire rod – by 50%, to 75 thousand tons. In…Details
In January-March Sinarsky Pipe Works received 94 million rubles of net profit, down 6-fold YoY.
At the same time the company revenue increased by 1.5 billion rubles, to 10.45 billion rubles.
Gross profit dropped from 1.7 billion rubles to 1.2 billion rubles. (Ukrainian metal)
In January-March Korshunovsky Mining and Processing Works received 214.1 million rubles of net profit, down 8-fold YoY. According to the company statement, its net income was 1.7 billion rubles. Revenue dropped 2-fold, to 1.6 billion rubles. “The dynamics of the revenue and net profit is explained by the drop of iron ore concentrate output and…Details
In January-March Zabaykalye region produced 290.3 tons of tungsten concentrate, down by 45.7% YoY. The decrease has to do with the drop of output volumes at Novoorlovsky Mining and Processing Works. Two companies are developing tungsten deposits in the region – Novoorlovsky GOK and Bom-Gorkhonsky Mine LLC. Novoorlovsky GOK develops and processes tungsten ore of…Details
In March Russia exported 415.8 thousand tons of ferrous scrap, up by 9.5% MoM and by 19% YoY. In February the results were +10.7% and +88.6%, while in January -45.6% and +38.7% respectively. In January-March exports reached 1.14 million tons, up by 43% YoY, and the highest result in 10 years. Turkey imported 45% of…Details
This year Kuzbassrazrezugol will spend over 16 billion rubles on the development of its manufacturing capacities, as well as social programs in the Kemerovo region. Last year the company invested 15.6 billion rubles, including 14.6 billion rubles in development, and 311.5 million rubles in state and regional social programs. This year industrial investments will grow…Details
In January-April Zabaykalye region obtained 1158 kg of gold, up by 14.8% YoY. In April alluvial gold season started. As of May 1 some 15.3 kg of alluvial gold was collected. The ore gold output totaled 1142.6 kg. Some 50 companies are involved in gold-extracting in the region. Last year the region yielded 13 tons…Details
Beloretsk Iron and Steel Works has been named the Perfect Supplier by a major Russian manufacturer of electric equipment for automobiles. BMK has been cooperating with Autoelectroarmatura (AVAR) for over 10 years. The works supplies spring wire of various sizes to the company. The highest category of supplier has been given to the works following…Details
In a year energy efficient frequency converters have allowed the Central Mining and Processing Works to save 52% of electric energy during the pumps operation. The machinery was assembled within the energy-servicing project with DTEK ESKO. In March 2017 DTEK ESKO financed and assembled 12 ABB frequency converters to automatically regulate the operation of electric…Details
“To solve the problems of Mailuu-Suu uranium legacy, we need to take long-term preventive measures and carry the tailings and dumps over,” the European Parliament Deputy Michele Rivasi declared. According to her, if nothing is done now, then, when the natural cataclysm will occur in the next few years, all harmful substances will be washed…Details
The department of the Eastern office of the State Audit Service in Donetsk region says it is impossible to carry out inspections of the state enterprise Selidovugol because of the miners’ strike, who demand their salary debts to be cleared. In late 2016 Selidovugol purchased foodstuffs from VF Corner-Pak LLC. Because the activists suspected that…Details
Energomashspetsstal has produced a batch of rolls for ABB.
The total weight of the batch is 85 tons.
The rolls will be used to produce electric engines.
The companies have been cooperating for over 10 years. (Ukrainian metal)
Chelyabinsk Iron and Steel Works has produced the first batch of rolled metal weighing 320 tons for the construction of a housing complex in the city of its presence. In the downtown Chelyabinsk construction of the new “Freedom Tower” block of flats has started. ChMK supplies rebars for the construction, as well as pipes, sheets…Details
The prime cost of 1 ton of coal mined at the state enterprises is 1.5 times higher than the price of this coal when sold to the power plants. According to the Ministry of Energy and Coal Industry, in February the prime cost was 3124.9 UAH per ton, while the average selling price was 2033.5…Details
The Cabinet of Ministers has postponed the decision to provide state coalmines with state guarantees on their loans of 1 billion UAH.
According to the Prime Minister Vladimir Groysman, this issue will be addressed later.
State guarantees should have been given to the Mine named after Surgay, Pervomayskugol, Lvivugol, Toretskugol and Selidovugol. (Ukrainian metal)
Magnitogorsk Iron and Steel Works (MMK) was recognized in the Ferrous Metallurgy category of the XVI national annual IT Leader awards. The expert jury gave high praise to MMK’s large-scale project aimed at updating the software infrastructure of MMK Group, comprising more than 60 companies. The IT Leader awards have been held since 2002 and…Details
On May 16 labor collective of Railway Shop of PJSC ArcelorMittal Kriviy Rih (shifts 3 and 4) joined the protest of Ukrzaliznytsya’s railwaymen. Main demands of the employees were announced – to increase the salary up to European level of 1000 EUR and to ensure that all rolling stock met health and safety standards. Locomotive…Details
Kyrgyzstan considers it important to adopt a new UN resolution on the problems of uranium tailings, the Deputy Prime Minister of the Kyrgyz Republic Kubatbek Boronov stated on May 17. According to him, a number of large tailing dumps in Kyrgyzstan and other countries of the region are located near the rivers, which are the…Details
Goods worth 274 million manats were produced by metallurgical industry and enterprises manufacturing finished metal products in January-April, reads a report of the country’s State Statistics Committee. The report says the output of metallurgical industry increased by 14.2%, while the manufacture of finished metal products grew 2.2-fold. Azerbaijan produced 97,800 tons of fittings, up by…Details