Ukraine: Ferrexpo invests over $100 million in GOKs development

In 2017 Ferrexpo invested over $100 million in its Ukrainian assets. “Poltava, Yeristovo and Belanovsky GOKs received 2.7 billion UAH from Ferrexpo last year”, the company reported. In particular, for deposits maintenance and development PGOK received 1698.3 million UAH ($62.9 million), while Yeristovo and Belanovsky GOKs were given 995.3 million UAH ($37.3 million) for development.…


Georgia: one dead in mining accident

A miner died last night during underground works in Shukruti mine in the village of Chiatura – a city in the western Georgian region of Imereti. The mining accident claimed the life of 45-year-old Zaza Abramishvili at around 3 am. Georgian American Alloys, the company responsible for the mine, said in a statement that part…


Ukraine: YaKKhZ losses up in 2017

In 2017 Yasinovsky By-Product Coke Plant increased net losses 4.7-fold YoY, to 1.434 billion UAH. According to the company statement, its uncovered loss last year totaled 1.195 billion UAH. The company current liabilities grew 2.4-fold, to 2.29 billion UAH, while its fixed liabilities fell by 40%, to 63.181 million UAH. Its accounts receivable decreased by…


Russia: Metalloinvest and KamAZ expand strategic partnership in SBQ deliveries

Oskol Electrometallurgical Works, a part of Metalloinvest, hosted a meeting of Metalloinvest commercial director Nazim Efendiyev and KamAZ deputy sales general director Rustam Shamsutdinov. The parties agreed on improving the efficiency in the supply of high quality rolled steel (SBQ), including creating the stocks and switching to electronic workflow. In 2017 OEMK supplied almost 50…


Latvia: Liepājas metalurgs buyer – owner of Russian Krasniy Octyabr?

Smart Stahl GmbH (Austria) has purchased the movable property of the Liepājas metalurgs rolling shop. But it is believed that Dmitry Gerasimenko, owner of the Volgograd-based Krasniy Octyabr (Russia) could be behind the deal. He is a full owner of the Cyprus-based Segoa Ventures Limited, which owns Smart Stahl, created in April 2017. The sum…


Ukraine: AMKR opens “Young Engineers” school

PJSC ArcelorMittal Kriviy Rih launches a new education project, which is the “Young Engineers” school. Its participants may be the employees’ children aged from 9 to 15 years. The learning program includes chemical and physical experiments, robotics technology, construction, master classes on work with wood and metal. When the young engineers will begin their exciting…


Russia: Orotukan Alluvial Company to get 300 kg of gold in 2018

This year the Orotukan Alluvial Company LLC intends to obtain 300 kg of alluvial gold.

According to the company statement, the sand-washing season will start on May 1.

Last year the company obtained 296.6 kg of gold.

The company owns 11 licenses for alluvial gold sites in the Magadan region. (Ukrainian metal)

Russia: Zabaykalye to introduce patents for gold extraction

Zabaykalye region intends to implement a pilot project of granting individual entrepreneurs patents to extract gold at lesser deposits and alluvial sites.

The project will solve the problem of illegal extraction of gold in the region.

The entrepreneurs will be given small sites, rejected by major companies. (Ukrainian metal)