Sberbank, VEB and UGMK have signed base indicative conditions to finance the project to develop the Korbalikhinskoye polymetal deposit in Altai region and reconstruct the Rubtsovskaya processing factory to increase its capacity to 1.5 million tons of ore per year. The total cost of the project is 38 billion rubles. The company intends to borrow…Details
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Kopy Goldfield AB (Sweden) has two ways to develop the Krasnoye deposit in Irkutsk region. The first is the combined development. At first a processing factory with the capacity of 1 million tons of ore per year and an open quarry at the Krasniy site will be constructed. After that a mine will be constructed.…Details
Uralelectromed has increased the capacity of its site to process industrial products of the chemical and metallurgical shop. Antimonous slags originating during the pyrometallurgical processing of lead cake are sent to the chemical and metallurgical shop, operating since 2017. In 2019 the site received two additional electrolysis baths, which would allow producing 100 tons of…Details
Izhstal has passed the product quality inspection and received a certificate of the Aviation reducers and transmissions – Perm Motors approved supplier. The companies have been cooperating for many years, with Izhstal supplying metal products of structure, nickel-alloyed and stainless steel. The metal is used to produce body parts, rolls and gears of aviation engines.…Details
In 2019 Severstal invested 1.1 billion rubles in labor safety at Cherepovets Iron and Steel Works. In particular, the group has reconstructed premises in order to improve working condition and decrease risk of injuries. The reconstruction mostly concerned ventilation systems, conditioning, replacement of old lighting system and the assembly of railings. All in all there…Details
ArcelorMittal Temirtau has launched all of its three oxygen converters with the volume of 300 tons after repair. Now the shop operates at full capacity. The converter No. 2 started operating in early January, and then converter No. 1 was shut down for repair, which lasted for 100 days. Since February 9, the shop has…Details
In 2019, Evraz received $365 million of net profit, down by 85.2% YoY. EBITDA dropped by 31.1%, to $2.6 billion. Consolidated revenue fell by 7.3%, to $11.9 billion. At the same time capital investments increased by 44.6%, to $762 million. This year Evraz plans capital investments on the level of $900 million. Net debt as…Details
In 2019, MMK Group’s financial contributions to charitable causes and social programs increased by almost 4% YoY, reaching 2.5 billion rubles. At the same time, the share of the plant itself in the group’s total volume of social and charitable expenses amounted to around 70%, totaling almost 1.8 billion rubles, 11.6% higher than in 2018.…Details
Russian metals giant Norilsk Nickel has suggested the government cover 50% of spending on 85-billion ruble renovation of housing in the city of Norilsk, and subsidize construction of ice-class ships and upgrade of port infrastructure. Sources said that the Industry and Trade Ministry had preliminarily approved the company’s request for state support, the majority of…Details
Gold reserves of the Russian precious metals producer Polymetal International went up by 6% YoY, to 23.7 million ounces of gold equivalent in accordance with the JORC Code, the company said in a statement on February 27. Ore reserves of the company increased by 5%, to 25.2 million ounces of gold equivalent due to geological…Details
Beloretsk Iron and Steel Works has been awarded the highest category of reliability in 2019 by one of the largest cable producers in Russia – Irkutskcable. Having analyzed product quality, loyalty, the quality management system and the terns of cooperation, Irkutskcable has awarded BMK with the highest category of reliability – A. Irkutskcable is one…Details
Metinvest-SMC is launching a program to grant metal buyers the right for deferred payment for 3 months. Lately banks have almost entirely stopped providing companies with loans. “In early 2020 the situation began to change, the National Bank is gradually decreasing the discount rate, and the devaluation expectations of banks have dropped, so they are…Details
Ukraine’s interagency commission on international trade has decided to impose a 50.09% antidumping duty on imports of steel wires and wire ropes from Russia for five years, according to a report posted in the government’s Uriadovyi Kurier newspaper on February 25. According to the law of Ukraine on the protection of national producers from dumping…Details