The Central Bank of Russia has increased gold purchases to the maximum since the start of the year. In July Russia bought slightly over 26 tons of gold, increasing its gold reserves to 2170 tons valued at $77.4 billion. A larger purchase was only in November 2017. The Central Bank started increasing gold reserves in…
DetailsKarelsky Okatysh is implementing new techniques in the power sphere. The company is carrying out a major project to make all the electric substation automated. The project will run till 2021. Investments total 500 million rubles. “The project started in 2013. It was very difficult, as no Russian enterprise had such a project. We had…
DetailsIn January-June ChTPZ received 5.621 billion rubles of net profit, up 2.7-fold YoY. The adjusted EBITDA grew by 48%, to 16.238 billion rubles. Revenue went up by 31%, to 94.941 billion rubles, and gross profit – by 36%, to 23.477 billion rubles. The company net debt grew by 8.6% and as of June 30 amounted…
DetailsSeverstal has presented a new type of vibration and noise suppression steel 01U5T. Damping steel can be used to construct transport infrastructure objects (railroad and subways), as well as in power, household, ventilation and military machines, mining, metal processing, etc. The steel mechanical characteristics are on par with structure steel 09G2S-295, while its prime cost…
DetailsPJSC ArcelorMittal Kriviy Rih has won a rebars drop shipment contract for construction of new wind power plant (WPP) in Overyanovka village of Kherson region. Rebars of the enterprise are used for raising foundations for wind-powered generators of new power generation plant in the southern part of Ukraine. Kherson region is one of the leading…
DetailsPrime Minister Vladimir Groysman has ordered the Ministry of Finances and the Ministry of Energy and Coal Industry headed by Igor Nasalik to find additional sources of financing the state coal industry. “We need more system changes to attract investments and increase local coal output”, he said at a government meeting on August 23. He…
DetailsThe copper-smelting shop of Uralelectromed has modernized and commissioned an anode furnace No. 2 with the unification of anode removers for two types of anodes – 260 and 392 kg. In three weeks of operation the furnace has produced some 7 thousand tons of copper anodes. “With the commissioning of the second stage of the…
DetailsBeloretsk Iron and Steel Works has confirmed the correspondence of its quality management system to the requirements of the new ISO 9001:2015 version. The representatives of SGS visited the rolling, steel wire and rope, cold-rolling shops and 14 divisions of the works, inspecting the manufacturing process, the quality of documentation and speaking with the employees.…
DetailsGold output of the Chukotka Autonomous District is falling, governor Roman Kopin said in his letter to president Vladimir Putin asking for higher financing of geological exploration and better mechanisms of licensing of subsoil sites. Kopin said that the gold reserves of the unallocated subsoil reserve fund of the region stood at only 95.2 tons,…
DetailsOver 1 thousand tons of beams produced by Evraz NTMK were used to construct an agricultural complex in Voronezh region. By the end of the summer 1 thousand tons more will have been supplied to the construction site. The I-beams with the length of 10 to 13 meters are used to construct the roof of…
DetailsIn January-June the net profit of Metalloinvest totaled $870 million, up by 48.7% YoY. Revenue grew by 24.6%, to $3.779 billion, EBITDA – by 40.5%, to 1.491 billion, while net debt dropped by 6.1%. The company has refinanced its pre-export financing at $240 million due to attracting a new PXF-2018 loan. Metalloinvest has also signed…
DetailsThe Cabinet of Ministers of Ukraine has transferred 100 million UAH envisaged for the Ministry of energy and coal industry for the program of labor safety at coalmines to the program of clearing salary debts to miners. According to the ministry, in January-June state mines extracted 2.161 million tons of coal, down by 6.7% from…
DetailsThe state Roseximbank will provide a loan of over 140 million euro for the construction of Tashkent Iron and Steel Works. The bank has signed a loan agreement with Asaka and Uzpromstroybank, which are financing the project. The project envisages the development of the main manufacturing lines and infrastructure objects, the supply of machinery, training…
DetailsRussian government ministries have agreed that a proposed windfall tax on metals, mining and chemical companies is inappropriate, Reuters reported citing Industry Minister Denis Manturov. “With colleagues from other ministries, we have reached a common position that as of today it’s inappropriate,” he told reporters on the sidelines of a military forum. The proposal, put…
DetailsUkraine’s output of manganese ferroalloy fell by 11.9% YoY and by 7.5% MoM, to 74,950 tons in July, Ukrainian ferroalloy producers association UkrFA said. In July Ukraine produced 65,400 tons of silicomanganese, down from 66,700 tons in July 2017. Output of ferromanganese dropped to 3,700 tons from 11,000 tons and production of ferrosilicon fell to…
DetailsUkraine’s extraction of coal rose by 1.1% YoY, to 2.64 million tons in July from 2.61 million tons in July 2017 and from 2.55 million tons in June, the Energy and Coal Industry Ministry reported. Extraction of thermal coal in July increased by 7.7%, to 2.22 million tons from 2.06 million tons in July 2017,…
DetailsIn January-June Russia imported 1.13 million tons of rolled steel and pipes from Ukraine, up by 47.8% YoY.
The share of bars and sections is around 55%, up 2-fold.
Flat rolled metal accounts for 32.9%, up by 1.4%, while pipes dropped 2-fold, to 3.3%. (Ukrainian metal)
In January-June Lysva Iron and Steel Works received 430 million rubles of net profit, up from 275 million rubles of net loss a year earlier. Revenue increased 2.4-fold, to 6.798 billion rubles, with gross profit up 3.2-fold, to 1.051 billion rubles. Sales revenue grew 3.3-fold, to 721 million rubles. Since the start of the year…
DetailsIn January-July the Republic of Buryatia extracted 2929.7 kg of gold, up by 7% YoY.
Ore gold accounted for 1983.9 kg, up by 4%, while alluvial gold output grew by 13%, to 945.8 kg.
Last year the region yielded 5677.9 kg of gold. (Ukrainian metal)
In January-June Mechel decreased steel output by 8% YoY, to 2.051 million tons. The decrease was the result of the scheduled repairs of machinery in the sinter-blast furnace and oxygen-converter shops of Chelyabinsk Iron and Steel Works. A major repair of the continuous casting machine No. 5, carried out in Q2, reduced the loading of…
DetailsChelyabinsk Iron and Steel Works produced rebars for one of the major infrastructure projects – the construction of the Central Ring Road in Moscow region. ChMK rebars are used to construct bridges, tunnels and transport infrastructure in the Pushkin district, and the town of Zvenigorod, as well as the bridge over the railway and an…
DetailsMechel PAO’s Chief Executive Officer Oleg Korzhov commented on the January-June operational results. “Renewal of mining equipment at Mechel’s coal facilities enabled us to attain stable mining levels, and we plan to maintain this work pace until this year’s end. The decrease in mining volumes was due to a decline in thermal coal mining and…
DetailsIn April-June ChTPZ received 5.574 billion rubles of net profit, up from 1.35 billion rubles in Q1. In H1 net profit reached 6.927 billion rubles as opposed to the loss of 864 million rubles a year earlier. Revenue in Q2 dropped by 1% QoQ, to 35.79 billion rubles. H1 revenue increased by 33% YoY, to…
DetailsNordgold has increased its initial gold output forecast for 2018 from 0.95-1 million ounces to 1-1.5 million ounces. The improvement of the forecast is due to the project to construct an underground mining site at the Berezitovoye deposits as well as the commissioning of the Gross mine in Yakutia. The operation at the Berezitovoye will…
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