Backstar Holdings Limited (Cyprus) has decreased its share in Seligdar from 8.45% to 3.75%. The company has sold 46.7 million (4.7%) of voting shares. The amount of the deal was not disclosed. As of December 19, the company owned 37.2 million Seligdar shares. Backstar Holdings bought 75.9 million shares in November, having increased its share…Details
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Almalyk Mining and Processing Works intends to modernize its copper-processing factory. In particular, the company will replace two outdated GIST-72 screens before medium crushing with 3 new SHR-24-10.5×2.3 screens, as well as 9 GIST-71 screens before fine screening with the same number of upgraded SMR-25-12.4×2.9 screens. Moreover, two new highly efficient fine crushers will be…Details
In late November a Safran Landing Systems delegation visited VSMPO-Avisma. The goal of the visit was to conduct a certification audit. The experts inspected the control of materials, ingot smelting, billet forging, stamping manufacture as well as mechanical and thermal treatment when making stampings of titanium alloys for Airbus 350. The audit will result in…Details
Berezovsky Pit, a part of SUEK, has fulfilled its coal output plan for 2019 (4.8 million tons) in advance. This is SUEK’s youngest enterprise in Krasnoyarsk region. This year the pit has finished constructing a deep-processing complex with the capacity of 30 thousand tons of coal per year. Investments in the project exceeded 1 billion…Details
Ormet has received certificates of the correspondence of its environment management system and professional safety system to ISO 14001 and ISO 45001 respectively. The inspection has been carried out by SGS Vostoc Limited. Ormet started switching to the integrated management system based on international standards in early 2018. (Ukrainian metal)Details
In October Russia imported 65.6 thousand tons of chrome ore and concentrate, down by 17% MoM. Deliveries from Kazakhstan dropped from 65 thousand tons to 59.6 thousand tons. Imports from the South Africa fell to 5.7 thousand tons from 6.5 thousand tons. In 10 months imports totaled 792.6 thousand tons, down by 2% YoY. In…Details
In November Ukraine produced 1.325 million tons of steel, down by 20.1% YoY and by 15.1% MoM. Thus the country fell to the 15th position in the global steel rating compiled by Worldsteel. In November 64 countries produced 147.791 million tons of steel, down by 1% YoY. In 11 months output totaled 1.684 billion tons,…Details
At the Extraordinary General Shareholders’ Meeting (EGM) held on December 20 NLMK shareholders approved the payment of Q3 dividends of 3.22 rubles per share. The total amount of Q3 dividends payable to shareholders is equivalent to 124% of the company’s free cash flow based on its IFRS consolidated results for the corresponding period. The date…Details
The Finance Ministry will spend 300 million UAH to pay salaries to state miners until the end of the year. According to the finance minister Oksana Markarova, it is necessary to review the state mines financing system. “There is a systemic problem in the industry – a small number of mines on the verge of…Details
In January-September Interpipe increased revenue by 5% YoY, to $863 million. Revenue from the sales of railroad products grew by 36%, to $297 million, mostly thanks to the CIS market. At the same time pipe sales revenue dropped by 7%, to $535 million, mostly due to the decrease in the OCTG sector by 27%. EBITDA…Details
Chelyabinsk Iron and Steel Works has completed capital repair of one of its three blast furnaces. The modernized blast furnace No. 4 with gas-purification equipment is being commissioned. The repair started in July. The builders have completely disassembled old machinery, replaced refractory lining and assembled new gas-purification system. (Ukrainian metal)Details
The prospecting company Azarga Metals Corp. intends to invest some $187 million in the development of the Unkur copper deposit in Zabaikalye region. The company started inspecting the deposit in 2015. The reserves were estimated at 62 million tons of ore with a 53% of copper content and silver content of 38.6 g per ton.…Details
In October Russia exported 10.2 thousand tons of secondary aluminum, up by 22% MoM and by 31% YoY. Deliveries to Japan grew by 23%, to 7.5 thousand tons. Exports to Cyprus dropped by 26%, to 930 tons. In 10 months exports totaled 93.7 thousand tons, up by 53% YoY. In monetary terms since the start…Details