In 2019 Metinvest increased iron ore concentrate output by 6% YoY, to 29.028 million tons. The increase was due to the growth of ore mining, machinery fleet update and the increase of its efficiency at Severniy Mining and Processing Works. In Q4 2019 concentrate manufacture remained almost unchanged QoQ, at 7.278 million tons. (Ukrainian metal)Details
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A Ukrainian court has limited 50.3% of Ferrexpo Poltava Mining (FPM) shares, belonging to Ferrexpo AG Switzerland, the only shareholder. Ferrexpo AG says the arrest does not affect the ownership of the shares, but prohibits their transfer. The group believes this is connected with issues of the company beneficiary Konstantin Zhevago and a company he…Details
The World Bank intends to support the mitigation of social and environmental impacts of the coal industry restructuring in Ukraine, according to the Ministry of Energy and Environmental Protection. “The World Bank, with the support of the European Commission and other international financial institutions, intends to support the mitigation of social and environmental impacts as…Details
Russian Copper Company is studying the opportunity to buy the property of the bankrupt Ufaleinickel. “Due to the complex social and economical situation in Verkhniy Ufalei because of the shutdown of the town-forming enterprise, the authorities of the Chelyabinsk region have asked the Russian Copper Company to invest in the organization of manufacture. So far,…Details
The supervisory fund of Zaporozhye Aluminum Works has elected Sergey Ignatovsky, the deputy chairman of the State Property Fund, its chairman. The decision was taken on January 23. Ignatovsky was appointed the supervisory fund member on December 23, 2019. The same day, the supervisory board appointed Sergey Kizilov the acting CEO of ZALK, having relieved…Details
The Severstal board of directors recommends paying dividends in the amount of 26.26 rubles per ordinary share for October-December 2019. The decision is expected to be approved at a shareholders meeting scheduled for June 5. (Ukrainian metal)Details
In 2019 Kola Company, a part of Norilsk Nickel, increased nickel output by 5%, to 229 thousand tons. Nickel manufacture of own raw materials totaled 225 thousand tons. Copper production grew by 5%, to 499 thousand tons, with 455 thousand tons produced of own raw materials. Bystrinsky GOK manufactured 43 thousand tons of copper. Nornickel…Details
On February 1 Magnitogorsk Iron and Steel Works turns 88. The enterprise was created at the foot of the Magnitnaya mountain. The first blast furnace produced the first pig iron on February 1, 1932. The first open-hearth furnace started operating in July 1933, and in August 1934 the company commissioned the 500-mill. In late 1980s…Details
Kamensk-Uralsky Non-Ferrous Metals Processing Works will start manufacturing aluminum powder in the amount of 1008 tons per year to be exported to Kazakhstan. Aluminum powder is used in the manufacture of aerated concrete. The Fund of the industry development has already approved of a company loan. The total cost of the project is 200 million…Details
In November 2019 Russia imported 246 tons of molybdenum ore and concentrate, up by 19% MoM and by 186% YoY. Deliveries from US grew from 100 to 141 tons, those from Chile remained unchanged at 20 tons, but from the Netherlands dropped from 85 to 83 tons. In 11 months of 2019 imports totaled 2.7…Details
In November 2019 Russia exported 294 tons of long rolled copper, down by 26% MoM and by 28% YoY. Deliveries to Belarus dropped by 39%, to Germany by 60%, to Kazakhstan by 33% and to Ukraine by 20%, to 105, 23, 38 and 35 tons respectively. In 11 months of 2019 exports totaled 4.1 thousand…Details
The net profit of Russian steelmaker Severstal fell by 23.7% YoY, to $374 million in October-December 2019, while revenue decreased by 12.9%, to $1.838 billion, and EBITDA went down by 23.5%, to $602 million, as sales and prices fell, the company said in a statement on January 31. Free cash flow slumped by 70.5%, to…Details
The city of Taganrog has sold a land plot with the total area of 18 ha and the main assembly premises of the local car plant for 81.7 million rubles. VtorCherMet LLC was the buyer of TaGAZ. Earlier the assets were estimated at 181 million rubles. TagAZ was founded in 1997 and declared bankrupt in…Details