Severstal is negotiating the purchase of Liskimontazhconstruktsia steel pipe manufacturer with its owners. “It’s too early to speak of the sale, but the negotiations are underway”, a source in the regional authorities reported. The rumors of the change in the company ownership started circulating several years ago. The company had difficulties with sales due to…Details
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Buryatzoloto has increased the statutory capital of its daughter company Irokinda LLC from 10 thousand rubles to 1.142 billion rubles. The changes were made on January 28. Buryatzoloto owns 100% in Irokinda. All the active licenses have been transferred to the daughter company – for Zhanokinskaya field, Severniy site and the Irokindinskoye deposit. (Ukrainian metal)Details
The Polymetal board of directors has approved of a payment of special dividends for 2019 in the amount of $0.2 per ordinary share. The total amount of dividends to be paid is $94 million. The dividends will be paid on March 5 in dollars. (Ukrainian metal)Details
Mikhailovsky Mining and Processing Works has received a new locomotive. The machine will be used to transport cargo from the Pogruzochnaya station to the Kurbakinskaya station of the Moscow Railroad. The new locomotive helps decrease fuel consumption and has improved labor conditions. (Ukrainian metal)Details
In 2019 Metinvest increased steel output by 3% YoY, to 7.578 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased manufacture by 321 thousand tons due to the commission of the continuous casting machine No. 4. At the same time, Azovstal decreased output by 66 thousand tons because of the pig iron production…Details
Russian Railways has agreed with Kazakhstan on a 65% discount on Russian coal transit to China, Deputy CEO Alexei Shilo has said at a briefing. “Since we cannot move from Kuzbass to the East via Mariinsk–Mezhdurechensk with the amount that the cargo consignors want, we have offered: let’s see how to go to Kazakhstan and…Details
In 2019 Metinvest increased iron ore concentrate output by 6% YoY, to 29.028 million tons. The increase was due to the growth of ore mining, machinery fleet update and the increase of its efficiency at Severniy Mining and Processing Works. In Q4 2019 concentrate manufacture remained almost unchanged QoQ, at 7.278 million tons. (Ukrainian metal)Details
A Ukrainian court has limited 50.3% of Ferrexpo Poltava Mining (FPM) shares, belonging to Ferrexpo AG Switzerland, the only shareholder. Ferrexpo AG says the arrest does not affect the ownership of the shares, but prohibits their transfer. The group believes this is connected with issues of the company beneficiary Konstantin Zhevago and a company he…Details
The World Bank intends to support the mitigation of social and environmental impacts of the coal industry restructuring in Ukraine, according to the Ministry of Energy and Environmental Protection. “The World Bank, with the support of the European Commission and other international financial institutions, intends to support the mitigation of social and environmental impacts as…Details
Russian Copper Company is studying the opportunity to buy the property of the bankrupt Ufaleinickel. “Due to the complex social and economical situation in Verkhniy Ufalei because of the shutdown of the town-forming enterprise, the authorities of the Chelyabinsk region have asked the Russian Copper Company to invest in the organization of manufacture. So far,…Details
The supervisory fund of Zaporozhye Aluminum Works has elected Sergey Ignatovsky, the deputy chairman of the State Property Fund, its chairman. The decision was taken on January 23. Ignatovsky was appointed the supervisory fund member on December 23, 2019. The same day, the supervisory board appointed Sergey Kizilov the acting CEO of ZALK, having relieved…Details
The Severstal board of directors recommends paying dividends in the amount of 26.26 rubles per ordinary share for October-December 2019. The decision is expected to be approved at a shareholders meeting scheduled for June 5. (Ukrainian metal)Details