Russia: TMK IFRS net profit down Q3 2016

The net profit of Russian oil and gas pipe producer TMK dropped by 80.7% QoQ to $11 million in July-September, as calculated under International Financial Reporting Standards (IFRS), the company said. Revenue fell by 3.6% to $822 million, and gross profit decreased by 13.6% to $165 million. Adjusted earnings before interest, taxes, depreciation, and amortization…

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Ukraine: Donetsk region ferrous metals exports down in January-September 2016

In January-September Donetsk region (without the antiterrorist operation zone) earned $2542.1 million from exports, down by 11.9% YoY. The region exported products to 101 countries. In particular, ferrous metals exports accounted for 76.3% of the total volumes. The regional companies exported $1.9 billion worth of ferrous metals, down by 10.6% YoY. Ferrous metal wares exports…

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Russia: Vorkutaugol receives new director

Sergey Likhopud, who headed the department of legal matters in Severstal Management, has been appointed the general director of Vorkutaugol. “Sergey Likhopud became the director in a complex time. We have difficult tasks. I hope his knowledge and experience will lead the company out of the crisis situation”, Severstal BD chairman Alexei Mordashov said. (Ukrainian…

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Ukraine: Interpipe transfers NPTZ shares to its Cyprus companies

Three Cyprus-based companies, affiliated with Interpipe, have purchased 19.3% Nikopol South Pipe Works shares each from Transportno-Investitsionnye Tekhnologii LLC. The TIT LLC share decreased from 96.689302% to 38.675721%, while the share of Plamsted Limited increased from 0.000027% to 19.337914%, that of Wolbert Company Limited – from 0% to 19.33786%, and of Kamset Holdings Limited from…

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Russia: CherMK finishes SM4 repairs

Cherepovets Iron and Steel Works continues its autumn repair campaign.

In particular the company has finished the overhaul of its sintering machine No. 4.

Severstal Russian Steel spent 40 million rubles on repairs. (Ukrainian metal)

Ukraine: EMSS produces machinery for InGOK

Energomashspetsstal has produced feed and discharge trunnions for Ingulets Mining and Processing Works ore-pulverizing mills.

According to the company statement, the weight of the equipment totaled 71 tons.

The contract was concluded in July. All the parts will be supplied by year-end. (Ukrainian metal)

Ukraine: DTEK Ternovskoye miners have work for a year

The Ternovskoye Mine Group has put a new long face into operation.

788 thousand tons of coal will keep the local miners busy until January 2018.

The length of the face is 280 meters. The average daily output is estimated at 2 thousand tons. (Ukrainian metal)

Ukraine: Zaporizhstal products checked by India

Zaporizhstal has started the certification of its hot- and cold-rolled steel coils according to four Indian standards. To confirm the correspondence specialists of the Indian Standards Bureau have arrived at the works.

The license will allow Zaporizhstal to export its rolled metal to India, increasing its volumes. (Ukrainian metal)

Russia: Evraz appoints new CFO

Evraz plc has appointed Nikolay Ivanov the new vice-president on finances (CFO).

Ivanov will replace Giacomo Baizini, who has been CFO for 4 months following the resignation of Pavel Tatianin. (Ukrainian metal)

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Russia: Nordgold cuts 2016 output forecast

Gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, has cut its 2016 gold output forecast to 840,000-880,000 ounces from 880,000-930,000 ounces due to suspension of production at the Aprelkovo mine and difficulties with access to African deposits because of an extraordinarily long rain season, the company said in a statement. But the forecast…

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