Russia: MMK net profits up in Q1 2017

The net profits of Magnitogorsk Iron and Steel Works in January-March increased by 53.5% YoY, to $241 million.

According to the company statement, earnings increased by 58.1% YoY because of the higher sales prices (by $249 per ton, or by 76.8%).

EBITDA grew by 106.4%. (Ukrainian metal)

Ukraine: pellets exports in Q1 2017

In January-March Poltava Mining and Processing Works, a part of Ferrexpo, exported 2.527 million tons of iron ore pellets. Ukrainian pellets went to Europe and the Near East, as well as Japan, China and Korea. At the same time Karelsky Okatysh exported 1.459 million tons of pellets, Lebedinsky GOK – 996 thousand tons, Mikhailovsky GOK…

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Russia: Stoylensky GOK gets new gyratory crusher from Uralmashzavod

The contract for the new gyratory crusher was concluded after the Uralmashzavod specialists checked the crushing machinery at the processing factory of the Stoylensky Mining and Processing Works. The new machine will replace a similar one, produced by Uralmashzavod and delivered in 1983. The crusher has already been tested and supplied to the GOK. (Ukrainian…

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Russia: Severstal Balakovo gets new CEO

Since May 11, the new general manager of Severstal – Balakovo, a part of Severstal Russian Steel, is Artem Akinfiev, who has previously been responsible for the improvement of manufacturing processes at Promservis, another part of SRS. “In his new office Akinfiev will be responsible for increase of the company competitiveness on the bars market”,…

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Russia: Kolyma gold mining up in 2017

So far the gold washers of Kolyma have yielded 1.7 tons more gold then last year.

The plan for the year is 30.5 tons.

In 2016 Kolyma miners produced 27.9 tons of gold and 889.2 tons of silver, with 15.9 tons of alluvial metal, an absolute record for Russia.

Susumanzoloto yielded 4.5 tons. (Ukrainian metal)

Russia: Nesis buys Polymetal shares

Group IST of Alexander Nesis, through Powerboom Investments Limited, has increased its share in the gold-mining company Polymetal to 27.13% from 26.87%. Nesis bought 1.895 million shares, or 0.26% of the stake. As the shares are sold at around 10 GBP, the stake purchased can be estimated at 19 million GBP ($25.5 million). Out of…

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Russia: Evraz expanding sales markets

Evraz dispatched a batch of nodules produced at Kachkanarsk Mining and Processing Works to US Steel Kosice, the biggest steel mill in Slovakia. The nodules fully meet the customer’s requirements in chemical composition and physical properties. The content of iron in the nodules is above 60%; such high strength and solidity characteristics allow producing high…

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