NLMK Lipetsk, NLMK Group’s flagship production site, has embarked on the development of project documentation and site preparation for the construction of a new recovery power plant running on by-product gases from steelmaking operations. The power plant will have a capacity of 300 MW. NLMK Group plans to invest 35 million rubles into the project.…
DetailsAt the Extraordinary General Shareholders’ Meeting (EGM) held on September 27, NLMK shareholders approved the payment of Q2dividends of 3.68 rubles per share. The total amount of Q2 dividends payable to shareholders is equivalent to 136% of the company’s free cash flow based on its IFRS consolidated results for the corresponding period. The date upon…
DetailsThe national assembly on Jerooy gold deposit, scheduled for October 1, was canceled. According to the organizers, they received information about threat of disruption of the event and its use for political purposes. “We can’t voice names, but apparently, there were people among us, who pursued their goals. There is information about possible provocations, we…
DetailsAdditional expenses of Interpipe because of the increase of electricity cost amount to some $1 million per month. The company CEO Fadi Khraibe says de facto there is no electricity market in Ukraine. “The market presupposes competitive demand and supply. But now there is a system that is trying to get closer to the market.…
DetailsAVA-Trade LLC aluminum works was not able to contest additional taxes of over 23.9 million rubles and a fine of 1.4 million rubles. The company filed a suit to the court demanding to cancel the decision of the Tax service. The service found violations of the tax legislation and decided to impose additional taxes of…
DetailsIn July Russia exported 321.3 tons of flat copper, up by 51.5% MoM and by 20.7% YoY. Deliveries to Belarus remained almost unchanged at 128 tons, while exports to Ukraine grew 2-fold, to 111 tons. In January-July exports totaled 1.7 thousand tons, down by 4.1% YoY. In monetary terms since the start of the year…
DetailsIn January-May Russia increased gold manufacture by 9.59% YoY, to 101.44 tons. In particular, gold extraction totals 80.99 tons, up by 11.74%, secondary gold – 13.1 tons, down by 4.59%, and auxiliary gold – 7.35 tons, up by 15.93%. Silver output dropped by 9.32%, to 383.654 tons, including 175.39 tons of extracted silver, down by…
DetailsMetalloinvest will buy its bonds with the maturity in 2020 earlier than planned. The decision has been taken in order to optimize the group loan portfolio. The bonds had to mature in April 2020. But Metalloinvest decided to take advantage of its make-whole option. The funds to buy the bonds will come from a new…
DetailsA delegation of Azerbaijan Industrial Corporation OJSC and its subsidiary Azeraluminium LLC took part in the International Aluminum 2019 conference held in Athens. The conference is the biggest European event dedicated to the aluminum market and is of great importance from the point of view of discussing strategies and development paths in this market, as…
DetailsGold mining company Centerra Gold Inc. announced that Michael S. Parrett would succeed Stephen A. Lang as independent Chair of the Board of Directors effective October 1. Stephen Lang, who joined Centerra’s Board of Directors in 2008 and had held the Chair position since 2012, would remain as a board member and support an orderly…
DetailsIn July Russia imported 1.3 tons of tantalum, including scrap, up by 138.5% MoM and by 0.2% YoY. Deliveries from China increased from 51 tons to 395 tons, and from Kazakhstan – from 485 tons to 880 tons. In January-July tantalum imports totaled 5.4 tons, down by 35.43% YoY. In monetary terms since the start…
DetailsIn July Russia exported 253.6 tons of long-rolled copper, down by 19% MoM and by 37.2% YoY. Exports to Belarus grew by 17%, to 141 tons, and to Kazakhstan – by 41%, to 33 tons. Deliveries to Germany dropped from 59 tons to 35 tons and to Ukraine – from 51 tons to 11 tons.…
DetailsSince the start of the year Electrocable Kolchugino Works has supplied some 250 km of cable for the construction of the Moscow subway stations. Until the end of the year 200 km more will be delivered. “The cable wares for spaces with a lot of people, especially underground, have increased safety requirements. Our cables are…
DetailsIn August stainless steel manufacture (primary forms and semi-finished products) totaled 12.7 thousand tons, down by 19.7% YoY and by 9.1% MoM. According to the Federal Service of State Statistics, in January-August the output fell by 14.2% YoY. In August metal output decreased by 1.1% YoY, while in 8 months grew by 1.3% YoY. (Ukrainian…
DetailsIf the decree No. 1210 is supported by the Parliament, the industry will most likely start importing iron ore and not mining its own. “ArcelorMittal has already said they would review their policy and start importing iron ore, and not mining it in Ukraine, as it would become inefficient. The decree is bad for all…
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