Sovkombank has organized a loan for KAZ Minerals in the amount of $1 billion. The deal was formed as pre-export financing for 4 years with the possible prolongation for 2 years. The financing has been provided by a syndicate of leading financial institutions, with Sovkombank being the only Russian bank. (Ukrainian metal)Details
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The Federal Antimonopoly Service of Russia has approved of the A-Property claim to buy 100% in the Elga coal project of Mechel. In particular, the company will buy 100% in Elgaugol LLC, Elga-Doroga LLC and Mechel Trans Vostoc. Mechel owns 51% in these companies, and Gazprombank – the rest. Elga is one of the largest…Details
The meeting of Amurstal shareholders decided to replace the CEO of the company. As a result, Grigory Freidin, representing the largest shareholder – Moscow businessman Pavel Baulsky, has become the new director. The new management suspects embezzlement of 2 billion rubles at the company. At present the company is not operating, as there is no…Details
TriArc Mining is preparing to start operation at the Tomtorskoye deposit and construction of a mining and processing works in Krasnokamensk. Investments in the development of the rare-earth metals deposit in the Republic of Sakha (Yakutia) will exceed 55 billion rubles. So far the company has invested some 4 billion rubles. The capacity of the…Details
In December 2019 Russia imported 87 thousand tons of manganese ore and concentrate, up by 18% MoM, but down by 50% YoY. Deliveries from South Africa grew from 29.5 thousand tons to 74.1 thousand tons, and from Kazakhstan – by 24%, to 4.7 thousand tons. Purchases from Gabon dropped by 50%, to 40.2 thousand tons.…Details
Russia: Mikhailovsky GOK produces 1.8 million of high-grade iron ore concentrate using fine screening technology
The first phase of Derrick Fine Screening Technology was launched in four technological sections of the beneficiation plant on September 3, 2019. As a result, 3.7 million tons of iron ore concentrate are expected to be produced in 2020 at the fine screening technology sections. Beneficiated concentrate with increased iron content and reduced silica level…Details
The aluminum production of Russia’s UC RUSAL grew by 0.7% QoQ, to 949,000 tons in October-December 2019, the company said in a statement on February 28. Alumina production rose by 4.7%, to 2.05 million tons, bauxite – by 2%, to 4.026 million tons, and nepheline ore – by 5.6%, to 1.074 million tons. Output of…Details
The Government of the Republic of Armenia, through its Ministry of Territorial Administration and Infrastructure, has expressed its commitment to good governance of the mining sector by joining the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF). “We are pleased to welcome Armenia as the IGF’s 75th member,” said Greg Radford, Director, IGF.…Details
Evraz board of directors has decided to pay interim dividends for 2019 in the amount of $0.4 per ordinary share. The total amount of dividends will reach $580.8 million. Last year EVRAZ paid interim dividends of $0.35 per share ($508.17 million). (Ukrainian metal)Details
The United Metal Company has started modernizing rolling manufacture at Chusovoy Iron and Steel Works. A new rolling mill will be installed at the works capable of producing over 200 thousand tons of rolled metal per year. Investments total 3.6 billion rubles. The machinery will be assembled in late 2020. The first products will be…Details
Karelsky Okatysh has added three Komatsu HD785 dump trucks to its fleet. This is the first time that this model starts operating in Severstal. The lifting capacity of each truck is 91 tons. “Previously Karelsky Okatysh used Komatsu trucks with the lifting capacity of 217 tons. The advantage of the new model is that it…Details
In three years, under its project to exchange secondary gases with Zaporozhkoks, Zaporizhstal has decreased natural gas consumption by 240 million cubic meters. In 2016 the company modernized the gas pipeline and gas machinery at Zaporozhkoks. This allowed switching to the use of coke-blast furnace and natural-blast furnace gas mixes in rolling shops, resulting in…Details
The Central Commercial Court of Appeals has amended the ruling of the Dniepropetrovsk Region Commercial Court, which has approved the claims of creditors to Dneprovsky Iron and Steel Combine for the total amount of 87 billion UAH. In particular, Metinvest Holding LLC demands 20.7 billion UAH, Dneprovsky By-Product Coke Plant – 8.5 billion UAH and…Details