The net loss of IRC Ltd, the iron ore division of Petropavlovsk Plc, which runs gold deposits in Russia, widened by 60% YoY, to $25.224 million, the company said in a statement. The loss adjusted for one-time expenditures and the exchange rate-related loss stood at $8.219 million. Revenue grew by 27%, to $89.244 million, and…
DetailsIn January-July Ukraine extracted 17.87 million tons of coal, down by 6.6% YoY. According to the Ministry of energy and coal industry, coking coal output dropped by 8.9%, to 3.299 million tons, and power-generating coal – by 6.1%, to 14.57 million tons. In July coal output decreased by 4.4%, to 2.529 million tons. Enterprises subordinate…
Details“Settlement of issues related to the Kumtor project may encourage foreign investors to provide additional resources for development of the mine,” Aigul Berdigulova, Analyst at the Economic Analysis Department of the Eurasian Development Bank, declared. According to her, entry into force of a strategic agreement between the Government of Kyrgyzstan and Centerra Gold brings certainty…
DetailsIn June Russia exported 3.3 thousand tons of copper wire rod, down by 80% MoM and by 43.5% YoY. Deliveries to Kuwait dropped by 95%, to 439 tons, to Egypt – by 97%, to 60 tons, but to Belarus grew by 5%, to a third of the total volume. In 6 months copper wire rod…
DetailsIn June Russia imported 4.1 thousand tons of zinc, up by 11.7% MoM and by 236.5% YoY. Deliveries from Kazakhstan grew by a third, to 3 thousand tons, and from Uzbekistan – by 7.4%, to 15%. In 6 months imports totaled 26.6 thousand tons, up by 286.4% YoY. In monetary terms since the start of…
DetailsIn June Russia exported 19.2 thousand tons of nickel matte, up by 54% MoM and by 163.5% YoY. Exports to Finland grew by 33%, to 16.6 thousand tons. In 6 months nickel matte exports totaled 68 thousand tons, up by 58.2% YoY. In monetary terms since the start of the year exports have increased by…
DetailsThe miners team Vitim, developing the alluvial sites in Irkutsk region, since the start of the season has extracted 1263 kg of gold, down by 5% YoY. Last year as of August 1 the company extracted 1332 kg of gold. According to the output plan this year the company has to yield 2800 kg of…
DetailsUnder a new agreement Omsk Metal Structures Works (OmZM-Metal) will supply more than 1500 tons of metal structures for the construction of the Amur Gas-Processing Plant. Earlier the company has produced and supplied more than 4500 tons of metal structures with corruption-resistant coating to the construction site. The construction is carried out in partnership with…
DetailsMechel has concluded a contract with Steel Mont on the delivery of coke and coal. Until the end of 2020 Mechel has to supply 700 thousand tons of products to Steel Mont: 350 thousand tons of coke produced at the Moscow Coke-Gas Plant and 350 thousand tons of PCI coal and anthracite produced at Yuzhniy…
DetailsUMMC has started developing one of the largest copper deposits in Russia – Podolskoye, which will cover some 20% of the group raw materials base. The deposit is situated in Bashkortostan and was discovered in 1971. The reserves of copper, copper-zinc and pyrite ores amount to 88.6 million tons. In addition to copper, there is…
DetailsSouthwestern China’s Kunming Intermediate People’s court will auction all of the 28,336 tonnes of ammonium paratunsgate (APT) held by the collapsed Fanya Metal Exchange in mid September, according to an official notice seen by Fastmarkets on Friday August 30. The volume of APT ingots is equivalent to about three months of Chinese output and will…
DetailsAccording to statistics, metal workers in April-June earned more than in the industry as a whole. Thus, over 36% of employees received 15 thousand UAH, while the average level in the industry was 22.1%. At the same time a large number of metal workers receive less than 8 thousand UAH (28.6%) and 8-10 thousand UAH…
DetailsNikkei reported that Nippon Steel plans a 10% cut in its planned capital spending of JPY 1.7 trillion (USD 16 billion) for three years through fiscal 2020, as the global steel market slumps due to increased Chinese production and the global economic downturn induced by the US China trade war. The current 3 year capital…
DetailsBase metals on the Shanghai Futures Exchange mostly traded higher during morning trading on Friday August 30 following improved sentiment attributed to positive comments from the Chinese Commerce Ministry late on Thursday amid China’s trade war with the United States. “China has ample means for retaliation, but thinks the question that should be discussed now…
DetailsThe Danieli C-Stock Consignment Stock System represents a unique opportunity for metals producers to select Danieli as preferred provider for the supply of high-turnover items, including high-wear parts. The system allows customers to avoid costly procurement, to exploit dilution of parts expenses, and to enjoy from rapid and continuous availability, granting continuity of operation and…
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