Russia: Moody’s improves Rusal outlook

Moody’s has improved from Stable to Positive the outlook for Rusal. The company corporate rating remained on Ba3 level. “Our decision to change the Rusal outlook is connected with the decrease of borrowed money early in the year on the background of the profit increase as the prices for aluminum improved”, the agency said. In…

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Kazakhstan: SMS group to deliver ladle furnace to AMT

SMS group will supply a 290-ton ladle furnace to ArcelorMittal Temirtau.

The company will also supervise the assembly and commissioning of the new complex.

The cost of the machinery is not disclosed.

The new furnace will be put into operation in Q2 2018. (Ukrainian metal)

Russia: Zoloto Kuryi stays solvent

The arbitrary court of the Altai region has dismissed the Zoloto Kuryi LLC insolvency proceedings, as the claimant – Trud LLC – has revoked its claim. In April the court granted Trud LLC the right to recover 80.5 million rubles of debts on loan from Zoloto Kuryi. In 2016 Zoloto Kuryi planned to resume gold…

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Ukraine: Evraz out of UGOK shareholders

Metallotechnika LLC, a part of Evraz, and the owner of 25.7834% of Yuzhniy Mining and Processing Works, has ceased being a shareholder of the company. Metallotechnika has sold all of its shares. As of Q2, the major shareholders of UGOK were Strettonway Traders&Consultants Limited, Acretrend Holdings Limited и Mint Data Holdings Limited (all – Cyprus),…

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Ukraine: Lvivugol officials fined for untimely filling in declarations

7 officials of the state enterprise Lvivugol have been accused of corruption by the Chervonograd local prosecutors.

Without any important reasons they have untimely filled in the declaration on income and possessions on the official site of the National agency on corruption. They have all been fined for 850 UAH each. (Ukrainian metal)

Kyrgyzstan: reclamation of Min-Kush uranium-tailing dump started

Reclamation of the uranium-tailing dump near Min-Kush village in Naryn region of Kyrgyzstan has started, the Director of the Center for State Regulation of Environmental Protection and Ecological Safety under the State Agency for Environmental Protection and Forestry, Baigabyl Tolongutov, reported. According to him, the reclamation was started by Rosatom (Russia). It plans to spend…

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