Russia: RСС buys Finnish machinery valued at 300 million euros

Russian Copper Company has purchased technologies and equipment from Finnish companies for its enterprises in Russia and Kazakhstan valued at over 300 million euros. According to the group president Vsevolod Levin, these are ball mills, flotation equipment, converters and other machines, used to extract and process copper ore and produce refined copper. The Finnish companies…

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Russia: SUEK coal output up in Q1 2018

In January-March Siberian Coal Energy Company mined 28.6 million tons of coal, up by 1% YoY. Sales in Q1 grew by 10%, to 31.7 million tons, including non-coal goods. Exports reached 14.2 million tons, up by 10%. The main customers were China, South Korea, Japan, Taiwan, the Netherlands, Poland, Spain, Turkey and Germany. Growth of…

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Ukraine: Komsomolskoye Mine Group sees losses in 2017

In 2017 Komsomolskoye Mine Group, situated in Ukraine-uncontrolled territory, received 370.17 million UAH of net loss as opposed to 20.93 million of net profit in 2016.

The company net income fell 11.9-fold, to 30.356 million UAH.

Undistributed profit totaled 243.284 million UAH.

Last year the company produced 37.584 thousand tons of limestone. (Ukrainian metal)

Ukraine: accident at AMKR newly repaired blast furnace

While commissioning the newly repaired largest blast furnace No. 9 at ArcelorMittal Kriviy Rih, molten pig iron was spilled. The blast furnace has been in repairs since February. But while commissioning “an uncontrolled slopping of liquid pig iron occurred accompanied by a loud sound”. “The situation is under control. The blast furnace No. 9 has…

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Russia: Drazhnik wins gold site auction

Following the auction Drazhnik LLC has received the right to develop the alluvial gold site. The Koro-Samyr site was sold to the company for 62.634 million rubles. 2 more companies participated in the auction. Since 2001 the company has been prospecting at the site. Koro-Samyr C1 balance reserves amount to 353.4 kg of gold, while…

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Russia: Olkon finishes drying season

Olkon, a part of Severstal, has finished the drying season, which has lasted for half a year. The drying complex has been operating in a stable mode. In the 2017-2018 season the technological and qualitative indexes of the iron ore concentrate corresponded to the standards, including by moisture content. The average capacity of the drying…

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Russia: Amur region gold output down in Q1 2018

In January-March Amur region yielded 4.24 tons of gold, down by 9.3% YoY.

Petropavlovsk mines provided for the main part of the output – 1.4 tons at Pokrovsk, 1.12 tons at Albynsk, and 0.87 tons at Malomyr.

Gold mining in Amur region in 2017 grew by 15.6% YoY, to 25.77 tons. (Ukrainian metal)