Russia: RMK Chelyabinsk results for January-September 2016

In January-September companies of the Russian Copper Company Chelaybinsk division (Mikheevsky GOK, Alexandrinskaya Mining and Ore Company, Karabashmed and Kyshtym Copper-Electrolytic Works) earned 31.25 billion rubles, with 6.25 billion rubles of net profits. In particular Mikheevsky GOK received 13.12 billion rubles with 2.97 billion rubles of net profits. Karabashmed earned 6.92 billion rubles, with net…

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Russia: Olkon to increase output in 2017

Olkon (Olenegorsk Mining and Processing Works, a part of Severstal) plans to invest 250 million rubles in 2016 into the modernization of its mining machinery. In particular, the company wants to upgrade two of its dump trucks and two bulldozers. The business development projects will result in the output increase. Olkon plans to increase mining…

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Russia: Seligdar output up in January-October 2016

In January-October Seligdar mined 3.745 tons of gold, up by 31.5% YoY.

In October gold output totaled 644 kg against the target of 573 kg.

The 10-months result is the highest record in the company’s 41-year history.

Seligdar occupies the 10th place among Russian gold-mining companies. (Ukrainian metal)

Russia: Severstal and NLMK challenge EU’s cold-rolled steel duties

Russian steelmakers Severstal and Novolipetsk Steel (NLMK) have sent suits to the E.U.’s General Court challenging decision of the European Commission to introduce duties on imports of cold-rolled steel products from Russia, representatives of the companies reported. In August, the E.U. introduced an anti-dumping duty on cold-rolled steel from Russia and China for five years,…

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Ukraine: miners owed 800 million UAH

Salary debts at state mines have exceeded 800 million UAH. According to the Independent Miners Union of Ukraine chairman Mikhail Volynets, the unions demand 4.6 billion UAH in the 2017 budget to support the state coal sector, which will at any rate allow paying wages in time. But this money will not be enough to…

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Ukraine: Kominmet shareholders replace SB

Shareholders of Dniepropetrovsk Iron and Steel Works named after Komintern (Kominmet) have dismissed the board, having chosen Petr Kozak the general manager for a year. They have revoked all the members of the board, including the chairman Oleg Botyuk. The supervisory board and revision commission members have also been dismissed, including Alexander Butskikh (owns 19.7787%…

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Russia: gold and silver output down in January-September 2016

In January-September Russia produced 214.12 tons of gold, down by 1.4% YoY.

Silver output totaled 800.32 tons, down by 9.4% YoY.