The 6th Court of Appeals has satisfied the claim of the Office of large taxpayers and canceled the decision of the Kyiv District Court dated December 2, 2019, which has satisfied the claim of Alchevsk Iron and Steel Works to the Office to return 582 million UAH of profit tax overpayment. The overpayment accumulated in…Details
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About 200 miners of the Dzidziguri mine have gone on a strike in Tkibuli region of western Georgia earlier today after the employer demanded they use the tunnel of Mindeli mine to reach their regular work site, which they say “takes too much time and effort”. The miners said that the alleged reason for the…Details
In 2019 the Republic of Buryatia exceeded gold output plan by 15.9%. The region yielded 5562.5 kg of gold with the target being 4800 kg, or up by 6% YoY. Alluvial gold output totaled 499 kg, up by 24.9%. Ore gold yield grew by 5.6%, to 3063.5 kg. (Ukrainian metal)Details
Kaluga Turbine Plant has supplied a backpressure turbine with the capacity of 6.9 MW to Gaysky Mining and Processing Works. The turbine will be used in the cogeneration plant of the GOK with the combined capacity of 24 MW. The companies have been cooperating since late 1980s. The contract to supply the turbine was signed…Details
KAZ Minerals has approved expenses of $150 million to finish bankable feasibility study of the development of the Peschanka deposit in Chukotka Autonomous District. Additional machinery might be supplied to the deposit, which will increase expenses. Last year the company approved expenses of $80 million, but the actual amount totaled $111 million. The study is…Details
Last week, the price of one ounce of gold increased by 51.1 manats ($30) or by 1.9%. Accordingly, the average price of one ounce of gold stood at 2,722 manats ($1,601). The price of one ounce of silver grew by 0.8 manats ($0.47) or by 2.8%, to 30.8 manats ($18.1). The price of one ounce…Details
VSMPO was awarded the highest supplier award “2019 SQIP Accredited” at the annual conference of Airbus suppliers held as part of Supply Chain and Quality Improvement Program known as SQIP. This is the third consecutive award given to the Russian supplier by its strategic customer – the European aerospace corporation (previous awards were “Best Improver”…Details
In 2019 Karelsky Okatysh, within the consolidated group of Severstal taxpayers, paid 2.18 billion rubles of profit tax to the budget of the Republic of Karelia. Payments to the consolidated budget of Karelia from Karelsky Okatysh exceeded 1.2 billion rubles, up by 100 million YoY. For the past 10 years the company has been increasing…Details
In 2019 Ukraine produced 18.2 million tons of rolled metal, down by 0.9% YoY, having exported 14.94 million tons, or 82.1%. In 2018 the share of export was 78.5% (14.42 million tons out of produced 18.37 million tons). Semi-finished products accounted for 47.18% of exports, up from 43.64% in 2018. The share of flat rolled…Details
In 2019 steel consumption in Ukraine dropped by 13.1% YoY, while the imports grew by 1.6%. Domestic consumers received 4.685 million tons of rolled metal, including 1.419 million tons of imported (30.3%). In 2018 domestic companies received 5.394 million tons of metal, with 1.442 million tons (26.7%) imported. Flat rolled metal accounted for 55.29% and…Details
Metinvest is prepared to transfer 4 billion UAH for the development of the Pokrovskoye Mine Group having purchased a control stake in the company. When Metinvest bought 24.9% in the company in H2 2018, investments poured into it, which made the company profitable. “700 million UAH were provided in 2019 to buy new machinery. The…Details
Russian Copper Company plans to raise annual investment in its copper smelter Karabashmed by 55%, to 5 billion rubles in 2019, President Vsevolod Levin has reported. “Within 15 years of work at Karabashmed, we have invested more than 22 billion rubles in the development and improvement of environmental safety of the copper smelting production. Regarding…Details
The State Bureau of Investigations is suspecting the employees of the state enterprise Selidovugol and its separate division of the Mine 1-3 Novogrodovskaya in embezzling state funds while mining coal on the rented coalfields. In 2012 the Mine 1-3 Novogrodovskaya LLC received coalfields of the state mine for 20 years. The company has concluded an…Details