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The Ministry of energy and coal industry has cleared all salary debts to state miners. “The government has found funds, and we have fulfilled our obligations to the miners. All of them”, energy minister Igor Nasalik said. Now, according to him, the government has to find funds for the development of the state coal industry.…
DetailsSwiss commodity trader Glencore has dropped an idea to convert its stake in Russian aluminum giant UC RUSAL into global depositary receipts (GDRs) of En+ Group because of the new U.S. sanctions, it said in a statement on April 10. “Glencore has previously signed a non-binding term sheet with En+ regarding swapping its shares in…
DetailsStoilensky, the main resource base for NLMK Group, an international steel company, has begun the mining of quartzite on the southern bank of the Stoilensky deposit. The development of this site and the overall expansion of mining operations will enable a 10% increase in production output year-on-year to 38 million tons in 2018 and will…
DetailsRussian aluminum giant UC RUSAL may default on some loan liabilities because of the new sanctions imposed by the U.S., the company said in a statement released on the Hong Kong Stock Exchange on April 9. On April 6 the U.S. imposed sanctions against a total of 38 Russian tycoons, officials and companies, including Oleg…
DetailsLast week the price of one ounce of gold decreased by 2.482 manats or by 0.1%. Accordingly, the average price of one ounce of gold stood at 2,264.434 manats. The price of one ounce of silver decreased by 0.136 manats or by 0.5%, to 27.89634 manats. The price of one ounce of platinum decreased by…
DetailsUkraine saw a record low steel output in 2017 due to the lack of important raw materials. In particular, there is a threat of a blocking of imports of sulfuric acid that could create a monopoly on this type of raw materials. The interdepartmental commission on trade should make the corresponding decision by late April.…
DetailsIn January-March Boshnyakovsky Coal Pit mined 131 thousand tons of coal. The company owns three licenses to develop coal sites at the Boshnyakovskoye deposits. In 2010 the company obtained the licenses to Soldatskiy-1 and Onnaysky sites, and in December 2017 – to Onnaysky-Southern. This year the latter is expected to yield 0.5 million tons of…
DetailsOkhta GGK LLC, a part of Polymetal, has started developing the Khotorchan gold ore deposits in Khabarosvk territory. The first ore was mined on March 31. The deposits reserves will become the raw materials base for the Khakanjinskaya gold-extracting factory. The Khotorchan CC2 reserves are estimated at 839 kg, and forecast resources (R1) at 5…
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