Tajikistan: TALCO accused by mistake

The Ministry of Finances has admitted that while preparing the Tajik Aluminum Works 2010-2015 and H1 2016 operational results review it has made some mistakes. “In particular, export-import operations were stated in the company profits that have nothing to do with the company financial activity and, thus, cannot represent its financial state”, the ministry said.…

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Ukraine: criminal proceedings initiated against Evraz Sukhaya Balka

Prosecutors of Dnepropetrovsk region have initiated criminal proceedings against Evraz Sukhaya Balka for illegal mining of iron ore at the Yubileynaya mine. According to the prosecutors, the company has been illegally mining ore without corresponding documents since September. Sources say, Evraz Sukhaya Balka was officially idle in September and October because of the absence of…

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Russia: NLMK to increase output

Novolipetsk Iron and Steel Works could increase its capacities by 1-2 million tons per year.

At present the Lipetsk site is capable of producing 16 million tons of steel each year. The program will be carried out in 2-3 years.

The basic development plan doesn’t presuppose large investments, according to the company. (Ukrainian metal)

Ukraine: AMKR accused of metal theft

The independent primary union organization of ArcelorMittal Kriviy Rih reports multimillion thefts at the company involving AMKR employees. The organization sent a corresponding letter to the departments on human resources and security. According to the letter, the organization found out and prevented the theft of 200 tons of pig iron on November 27. They say,…

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Russia: Petropavlovsk to buy Amur Zoloto

Companies of the businessman Musa Bazhayev suggest correcting the agreement on selling Amur Zoloto to Petropavlovsk and receiving 20% in Petropavlovsk instead of 30.3%. In April Petropavlovsk signed an agreement to buy Amur Zoloto for $144 million from Alliance Mining Group and Lexor Group, controlled by Bazhayev. According to the agreement, his companies had to…

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Russia: coal exports up in January-November 2016

In January-November Russian coal exports climbed by 13.2% YoY, to 149,049,730 tons, the Ministry of Energy statistics reported.

In November coal exports totaled 13,833,700 tons.

Coal production in November reached 33,904,400 tons. (Portnews/Ukrainian metal)