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PAO Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, announced its capital investment program for 2018. Severstal plans to invest approximately 49.5 billion rubles in 2018, focusing on the key areas of the company’s strategy. This investment will primarily be aimed at further reduction of costs, increasing the production of…
DetailsIn 2017 the net profit of Severstal dropped by 16.4% YoY, to $1.355 billion. The group revenue grew by 32.7%, to $7.848 billion, and EBITDA increased by 34.9%, to $2.577 billion. Net profit in Q4 2017 totaled $563 million, up 1.9-fold QoQ. EBITDA grew by 22.4%, to $754 million, while revenue – by 10.4%, to…
DetailsThe Finance Ministry will decide within a month whether to abolish value-added tax (VAT) on investment gold, Deputy Minister Alexei Moiseyev declared. “The main problem here is that to distinguish between gold intended for investment and for jewelry production is very hard. This is the main bone of contention. But I expect the decision to…
DetailsResidents of Kadamdzhay district hold a rally against the development of Shambesai gold field, regional administration reported. According to its data, residents demand to close the mine, because they believe that mining of gold harms the environment. Gold reserves of Shambesai field are estimated at 8 tons. Exploration work at the deposit began in 2007,…
DetailsVesco, Druzhkovka Mine Group and Ogneupornerud, all controlled by System Capital Management, will jointly pay 329.023 million UAH of dividends for January 15 – July 31. In particular, Vesco will pay 224.21 million UAH, Druzhkovka Mine Group – 47.75 million UAH and Ogneupornerud – 57.05 million UAH. The corresponding decision was taken at the extraordinary…
DetailsThe State Fiscal Service of Ukraine announced TOP-100 major taxpayers of Ukraine in 2017, where PJSC ArcelorMittal Kriviy Rih took one of the leading positions Last year 100 major taxpayers increased their payments to the state budget by 21.6% YoY, to UAH 258.3 billion. PJSC ArcelorMittal Kriviy Rih took the first place among other Ukrainian…
DetailsChelyabinsk Zinc Works has started constructing a site of zinc cake flotation. The foundation has been laid, and the company is now busy assembling reservoirs and pumps. When processing zinc concentrate, zinc cake is created containing 15-25% of zinc, which is then sent for fuming in the rotary kiln. Cake also contains some 2% of…
DetailsIn 2017 VIZ-Stal increased output by 9%, to 161.6 thousand tons. Capacity loading remained high – 99%. Transformer rolled metal sales grew by 5%, to 160.9 thousand tons. The positive dynamics has to do with the restoration of the world demand for transformer steel and realization of projects aimed at improving product quality. Exports accounted…
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