Russia: Kuzbassrazrezugol commissions the most powerful excavator

Kuzbassrazrezugol has commissioned the most powerful Russian excavator EKG-35 No. 1 at the Krasnobrodsky pit. Uralmashzavod started designing the machine in 2012 according to Kuzbassrazrezugol specifications. In 2017 the excavator was assembled and in March entered trial operation. In June-July the machine loaded 900 thousand cubic meters of rock. Next year Kuzbassrazrezugol intends to buy…

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Russia: UMMC signs debut EUR 100 million PXF syndicated loan

Ural Mining Metallurgical Company (UMMC), one of the top Russian producers of copper, zinc and other precious metals, has signed a debut EUR 100-million syndicated loan. Mandated Lead Arrangers, Bookrunners and Lenders are Raiffeisen Bank International AG, AO Raiffeisenbank, PJSC Rosbank and Societe Generale. Raiffeisen Bank International AG and AO Raiffeisenbank acted as documentation agents…

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Ukraine: pipe exports down in November 2018

In November Ukraine exported $57.775 million worth of pipes, down by 6.1% YoY, while imports grew by 77.6%, to $18.965 million. According to the State Fiscal Service, USA imported the largest batches of pipes – $11.506 million. In January-November Ukraine exported $681.476 million worth of pipes, up by 33.4% YoY, while imports increased by 50.9%,…

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Ukraine: AMKR starts energy efficiency competition

ArcelorMittal Kriviy Rih has started a quarterly competition on energy efficiency. The winners will receive rewards for their suggestions. For example, there is a way to decrease the volume of reactive electric energy, which costs the company 22 million UAH per year. The creation of a special program that monitors the consumption of the excess…

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Russia: tin to be mined in Yakutia

The manufacture of tin concentrate in Yakutia will have reached 5.5 thousand tons by 2032. The government of the region intends to restore tin industry by developing tin deposits and commissioning the Tirekhtyakh alluvial site and Deputatskoye deposits. Yanolovo, the developer of the Tirekhtyakh, is negotiating investments with China. The site reserves are 68.4 thousand…

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Russia: Fitch improves Polyus ratings

Fitch Ratings has improved the long-term ratings of Polyus from BB- to BB with stable outlook.

The improvement reflects strong operational results of Polyus, the decrease of the debt level and improved possibilities to generate money flow.

The company has also noted Polyus output level and the resource base. (Ukrainian metal)