A shift of dumps occurred at one of the working sections of Kumtor mine on December 1 at about 5.30 am. As a result, according to preliminary data, two people – employees of the company – went missing. According to Kumtor Gold Company, search for the missing is underway. Law enforcement authorities and the Ministry…Details
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Pavlik Gold Company, operating at the deposit of the same name in the Magadan region, has concluded a 7-year agreement with Gazprombank Leasing on the purchase of mining machinery. The machinery will be purchased due to the increased capacity of the factory (from 5 to 10 million tons per year). Until 2022 gold output is…Details
VSMPO-Avisma has begun constructing a new shop No. 22. Its size will be over 10 thousand square meters. The premises will house mills for mechanical treatment of titanium stampings (discs and rings). The first metal structures will arrive this month. Until April 2020 the frame of the building will have been erected. In summer the…Details
Mechel has concluded a loan agreement with its Chelyabinsk Iron and Steel Works. The amount of the loan is 4.1 billion rubles, or 1.46% of the total valued of the company assets. The maturity date is December 31, 2022. The volume of the interest has not been disclosed. As of September 30, Mechel net debt…Details
In January-October Amur Zoloto LLC extracted 1466.3 kg of gold, up from 1336.6 kg last year. In particular, the Yubileyniy Mining and Processing Works processed 103.1 thousand tons of ore and 3213 tons of crushed stone and slime concentrate, yielding 1114.8 kg of gold, up by 18.3% YoY. Silver output grew almost 3-fold, to 1.732…Details
The Federal Agency on technical regulation and metrology (Rosstandart) has approved of a new GOST 21631-2019 “Sheets of aluminum and aluminum alloys. Technical specifications”. The standard will replace the outdated GOST 21631-76 and will come into effect from June 1, 2020. The standard covers sheets of ordinary and special usage. (Ukrainian metal)Details
Last week the price of one ounce of gold decreased by 19.1 manats ($11.2) or by 0.8%. The average price of one ounce of gold stood at 2,478 manats ($1,457). The price of one ounce of silver dropped by 0.173 manats ($0.1) or by 0.6%, to 28.8 manats ($16.9). The price of one ounce of…Details
Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev has met with Centerra Gold Inc. President Scott Perry, the Information Support Department of the Government’s Office of the Kyrgyz Republic has reported. During the meeting, the parties discussed issues of the work of Centerra Gold Inc. and Kumtor, taking into account the entry into force of a strategic…Details
In September Russia imported 107.3 tons of raw tin, down by 24% MoM, but up by 76% YoY. Deliveries from Bolivia and Peru grew by 15%, to 40.6 and 25 tons respectively. At the same time imports from Belgium dropped from 60 to 40 tons. In 9 months imports totaled 846 tons, down by 4%…Details
NLMK and Zagorsky Pipe Works decided to take part in the Black Friday. They offered buying their rebars with a discount of some 1 thousand rubles per ton and 530-1420 mm diameter pipes with a discount of 10-15%. The cost of rebars is 32-35 thousand rubles per ton, and of pipes – over 70 thousand…Details
In January-October Ukrainian metal companies received $1.7 billion of direct foreign investments, up by 7.6% YoY. According to the State Statistics Service, the share of metal companies in the total DFI amount grew from 5.1% to 5.2%. FDI in mining increased by 15.2%, to $2.01 billion. (Ukrainian metal)Details
Azovstal has finished repairing assembly hall in the large-section rolling shop. The walls have been insulated, while ceiling and floor have been repaired. Moreover, this year the company has improved material conditions in the pelletizing, rail and beam and repair shops. This year some 218 objects for 15.4 thousand employees have been improved. (Ukrainian metal)Details
In January-September Metalloinvest received $1.484 billion of net profit, up by 19.2% YoY. EBITDA dropped by 3.1%, to $2.115 billion, and revenue – by 0.3%, to $5.328 billion. The share of high added value products in sales grew from 72% last year to 73%, with sales up by 2.7%. In Q3 Metalloinvest net profit increased…Details