KAZ Minerals has signed an agreement with Caterpillar Financial Services (UK) Limited on the loan of $100 million. Caterpillar is the main supplier of mining machinery to KAZ Minerals mines – Bozshakol and Aktogay. The new loan line consists of two sub-lines of $40 million and $60 million. KAZ Minerals has pledged Caterpillar machinery (both…Details
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Black Iron has reached an agreement with the government of Ukraine to receive a land plot for the construction of a new mining and processing works near Krivoy Rog. A corresponding memorandum of understanding has been signed with the Ministry of Defense. The ministry agreed to provide the Canadian company with 1236 ha of lands…Details
In January-October Krivoy Rog Iron Ore Industrial Complex decreased ore output by 9% YoY, to 3.65 million tons. In October the enterprise manufactured 370 thousand tons. In 2018 KZhRK decreased output by 9.7% YoY, to 4.6 million tons. In spring the Octyabrskaya miners went on a strike, and as a result, the management recalculated their…Details
Energomashspetsstal is busy producing supporting rolls for Essar Steel. Another batch was shipped in October. The weight totaled 73 tons. This was the third batch of rolls supplied to Essar Steel this year. So far 9 rolls have been shipped to India. Two more supporting rolls will be delivered until the end of the year.…Details
Severin Development will carry out the Malmyzh deposit financial and technical audit for the Russian Copper Company. The availability of the professionally done technical expertise will allow attracting long-term financing to the project and control the usage of loan funds. RCC intends to construct a processing works with the capacity of 56 million tons of…Details
On November 18 Trubodetal, a part of OMK, celebrated its 70th anniversary. The company is one of the largest manufacturers of metal products for the construction of fuel and energy as well as power industries objects. Trubodetal has supplied metal for the construction of the Druzhba, Bovanenkovo – Ukhta, Sila Sibiri, Blue Stream pipelines, etc.…Details
Aggregate investment in a joint venture (JV) between metals companies Norilsk Nickel and Russian Platinum is estimated at $15 billion, Russian Platinum CEO Musa Bazhayev told president Vladimir Putin. Bazhayev also said that the platinum group metals reserves of the joint venture, which was at a final stage of establishment, would amount to 4,500 tons,…Details
In January-September the Belebey Works Avtonormal received 51.7 million rubles of net profit, up 9-fold YoY. The company is mastering manufacture of new production techniques as well as applying protective coating and developing new fastener structures. Revenue dropped by 2.4%. (Ukrainian metal)Details
In January-September Nordgold extracted 759.6 thousand ounces of gold, up by 12% YoY. The increase is mostly due to the commission of the Gross mine last year, which has extracted 191.9 thousand ounces, as well as the output growth at the Berezitoviy mine by 8%, to 44.3 thousand ounces. At the same time, the Bissa…Details
The Vostochnaya GRE Group of Companies has finished the season having extracted 520 kg of alluvial gold, up by 27% YoY. The extraction was carried out by two daughter companies – Korolevskoye LLC and Yablonevoye LLC. This year they were operating at two sites. The season started in mid-May. The group reserves are estimated at…Details
Azovstal Iron and Steel Works has finished the scheduled repair of the rolling mill-3600. The repair lasted for 10 days. The work has been carried out by Metinvest-Promservice and subcontracting companies. The cost of the repair was 100 million UAH. Now the company intends to repair the continuous casting machine No. 5 in the converter…Details
A grant of EUR 5.7 million will be allocated to Kyrgyzstan for reclamation of two uranium tailings, the Information Support Department of the Cabinet of Ministers has reported. The First Deputy Prime Minister of Kyrgyzstan Kubatbek Boronov took part in the 4th meeting of the Donor Assembly of Environmental Remediation Account for Central Asia, held…Details
In August Russia exported 2.2 thousand tons of aluminum foil, down by 9% MoM and by 45.2% YoY. Deliveries to US and Belarus fell by 12% and by 11%, to 1.6 thousand tons and 253 tons respectively. In 8 months exports totaled 22 thousand tons, up by 38.4% YoY. In monetary terms since the start…Details