Almalyk Mining and Processing Works has started developing the Dalneye deposits. In April AGMK and RIVS (St. Petersburg, Russia) signed an agreement on cooperation to construct a copper-processing complex for $500 million. According to AGMK, the development of the deposits valued at $1.7 billion will provide for the mining of 23 million tons of ore…Details
On August 16, Vostochniy Mining and Processing Works uranium miners went on a strike. The ore mining and salary payment were stopped three months ago because of the expiry of the license to use subsoil resources. The company received the license 20 years ago and now it has expired. But the State Service on geology…Details
Warehouses of the Central Mining and Processing Works are full of products, which cannot be shipped because of Ukrzaliznytsia. With the nominal capacity of warehouses at 70 thousand tons, they now stock 103 thousand tons, while pellets have to be stored in the fields. “We are way behind our obligations to our customers, mostly in…Details
In July metal companies increased natural gas consumption by 4% YoY, to 130 million cubic meters. Average daily gas consumption totaled 4.2 million cubic meters. In 2016 daily average daily consumption totaled 4.8 million cubic meters, down from 5.5 million cubic meters in 2015. In January-July Ukrainian metal companies consumed 1 billion cubic meters of…Details
Russian state geological exploration company Rosgeo has initiated exploration of gold and copper at a 121 square kilometer Yumtulsky prospective area in Russia’s easternmost Khabarovsk region through its subsidiary Dalgeophizika.
According to the company statement on August 16, it plans to finish the survey until the end of 2019. (Prime/Ukrainian metal)
Australian-British Rio Tinto jointly with Kazgeologia started new exploration work in Karaganda region. According to the regional administration, the exploration is taking place in two areas of the region Korgantas and Balkhash-Saryshagan. The company expects to find three world-class copper deposits with at least 1 billion tons of metal. The volume of investments at the…Details
Nornickel’s Polar Transport Division shipped over one third of the coal planned for delivery to remote settlements of Taimyr. Vital cargo, supplied by the company under the “Northern Supply Haul” program, is transported by river barges and sea vessels to hard-to-reach Far North areas. Company’s annual cargo turnover exceeds 60 tons of the solid fuel.…Details
Rodinskaya miners have been paid 74% of the June salary. After that the mine, a part of Mirnogradugol, resumed operation. On August 10, the third shift miners refused to go underground demanding their salary debts for June and July to be cleared. According to the mine director Vitaly Maiboroda, the mine is in the liquidation…Details
In May the Azov sea environment inspection checked the compliance of Azovstal Iron and Steel Works with the environment legislation. Following the inspection the Azovstal has been fined for 11.645 thousand UAH. Each year Mariupol-based companies dump some 900 million cubic meters of wastewater into water basins, with Azovstal accounting for 87% of the total.…Details
In April-June Seversk Pipe Works received 94.3 million rubles of net losses, up from 42.2 million rubles of losses in Q1. The consolidated losses of STZ in H1 exceed 136.4 million rubles. In H1 2016 the company received 1.23 billion rubles of net profits. In Q2 the company sold 10.14 billion rubles worth of products,…Details
In July Almalyk Mining and Processing Works saved 6892.482 million soums worth of fuel and energy resources. In particular the company decreased electricity consumption by 13.2%, or by 29842.9 thousand kW-h, valued at 5898.5 million soums. The cement shop decreased electricity consumption by 30%, lime shop by 25.3%, Angren ore group by 21.6%. Natural gas…Details
Construction of the gold-extracting factory is drawing to an end in Akmola region. “The work is 87% complete. The main premises machinery is being assembled, and the substation is being constructed”, the city of Stepnogorsk mayor’s office reported. The cost of the project is 11774 million tenge. The capacity of the factory will be 1.1…Details
In January-June the Norilsk Nickel palladium investment fund Global Palladium purchased some 5 tons of metal (170 thousand troy ounces).
“The purchase volume in H2 will depend on the market situation”, the company CFO Sergey Malyshev reported.
According to him, the fund has been working quite actively, with revenue up 2-fold YoY. (Ukrainian metal)
In Q2 Taganrog Metal Works received 357.1 million of net losses, up from 58 million rubles in Q1. The combined losses of the company in H1 total 415 million rubles, up from 328 million rubles in H1 2016. In Q2 Tagmet revenue dropped by 9% QoQ, to 8.4 billion rubles. The combined revenue in H1…Details
In July Dneprospetsstal produced 21142 tons of steel and 13866 tons of rolled metal, down by 3.2% and up by 0.2% MoM respectively. The total cost of products manufactured in July was 688028 thousand UAH, up by 2.9% MoM. In January-July DSS produced 148887 tons of steel and 98499 tons of rolled metal, up by…Details
In January-July Russia produced 2.4 million tons of steel structures and metal wares for construction, up by 11.8% YoY.
According to the Federal Service of State Statistics (Rosstat), in July output increased by 22.8% YoY, but dropped by 12.9% MoM. (Ukrainian metal)
In January-June Zagorsky Pipe Works increased pipes sales by 40% YoY. According to the company statement, it has shipped over 37 thousand tons of large and medium diameter pipes to its customers. The works has successfully delivered all the contracted pipes to Novatek, Arktikgaz and Lukoil, as well as supplied pipes of various sizes to…Details
In Q2 Izhorsky Pipe Works started producing and shipping large diameter pipes for the project of the Kharampur gas deposits development in Yamalo-Nenets Autonomous District. Under the contract concluded in late 2016, ITZ will supply over 100 thousand tons of pipes with 1220 mm diameter and 20-28 mm wall thickness of K60 steel. The plates…Details
In July Russia increased rolled metal output by 2.2% YoY and by 8% MoM. In January-July Russia produced 35.1 million tons of rolled metal, up by 0.7% YoY. Pig iron output in July dropped by 2.7% YoY, but increased by 6.2% MoM. In 7 months Russia produced 30.2 million tons of pig iron, down by…Details
Evraz ZSMK has finished the capital repairs of the blast furnace No. 2. The repair will improve work efficiency, increase the lifetime and decrease blast furnace manufacture impact on the environment. Evraz spent around 1 billion rubles on the furnace repair. In 2016 ZSMK repaired its BF1, in 2018 BF3 will be repaired. ZSMK blast…Details
Oskol Electrometallurgical Works has finished modernizing capacities at its bar-rolling shop No. 2. The assembly of the main and auxiliary machinery is complete. Modernization has been carried out without shutting down the main manufacture. Investments into the project exceeded 800 million rubles. Now the company will be able to increase its rolled metal output by…Details
PJSC MMC Norilsk Nickel, the largest refined nickel and palladium producer in the world, reports IFRS financial results for six months ended June 30, 2017. Consolidated revenue increased by 11% YoY, to $4.2 billion primarily owing to higher realized metal prices. EBITDA dropped by 3%, $1.7 billion primarily owing to RUB appreciation against USD and…Details
In January-July Ukrainian metal companies decreased exports by 20.1% YoY, to 8.48 million tons. Steel semi-finished product exports decreased by 28.4%, to 3.46 million tons, flat rolled products by 2%, to 2.92 million tons, and long rolled products by 25.3%, to 2.09 million tons. The semis share in the export structure dropped from 45.5% to…Details
In January-July Ukrainian by-product coke works produced 5.946 million tons of 6% moisture metallurgical coke, down by 21.4% YoY. In July coke output was 906 thousand tons, in June – 864 thousand tons. In July Ukrainian by-product coke producers increased output as local iron and steel works improved output as well. Dneprovsky Iron and Steel…Details
Talks with potential buyers of the insolvent KVV Liepājas metalurgs will conclude at the end of August, says representative of the company’s insolvency administrator Dzintars Hmielevskis. Information published in the insolvency registry states that a clarified KVV Liepājas metalurgs property sales plan has been submitted. The company’s insolvency process administrator Guntars Koris has extended the…Details
Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in the second quarter of 2017. In the first six months of 2017, KGC produced 266,023 ounces or 8274.25 kg of gold and contributed more than 4.7 billion soms in taxes and mandatory payments. During the second quarter of 2017,…Details