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In 2016 Rusal income decreased by 8% YoY, to $7.983 billion, because of the LME average aluminum price drop of 3.5% YoY, to $1.604 per ton. The corrected net profits and normalized net profits totaled $590 and $1.257 billion respectively, as opposed to $671 million and $1.097 billion in 2015. (Ukrainian metal)
DetailsThe Pipe Metallurgical Company (TMK) has announced the appointment of Vyacheslav Gagarinov the managing director of Sinarsky Pipe Works. Previously he has served as the chief engineer of the company. SinTZ ex-director Vyacheslav Popkov has been transferred to the position of the deputy manufacturing general director of TMK. Gagarinov has been working at SinTZ since…
DetailsThe state owes salary only to the Lisichanskugol miners in Lugansk region. “At present except for the Lisichanskugol salary debt, which is 110 million UAH, there are no debts to state mines”, energy and coal industry minister Igor Nasalik said. In early March Lvivugol miners threatened to stop supplying coal because of the salary debts…
DetailsIn 2016 Poltava Mining and Processing Works received 32.15 million UAH of net losses, down from 5.9 billion UAH in 2015. The company current liabilities increased by 10.9% YoY, to 21.26 billion UAH, fixed liabilities dropped by 18.1%, to 841.89 million UAH, while accounts receivable went up by 11.1%, to 5.26 billion UAH. The company…
DetailsRussian gold producer Polyus plans to sell its 82.3% stake in the Nezhdaninskoye gold deposit in the republic of Yakutia to businessman Ivan Kulakov. The deal is valued at $150 million, and precious metals producer Polymetal, the minority shareholder of the deposit, will keep an option to raise its stake in the project to 50%.…
DetailsIn January-February Kuzbass region mined 37.3 million tons of coal, up by 5.7% YoY. Power-generating coal totaled 26.7 million tons, up by 7.2%, coking coal – 10.6 million tons, up by 1.9%. In particular, Raspadskaya Coal Company increased output by 0.6 million tons, Kiyzasskiy Open-pit Mine – by 0.5 million tons, SUEK-Kuzbass and Stroyservice –…
DetailsIn 2016 Khartsyzsk Pipe Works, a part of Metinvest, situated on the temporarily uncontrolled territory of Ukraine, decreased its net losses by 50.7% YoY, to 194.431 million UAH. The company current liabilities increased by 95.6%, to 243.690 million UAH, fixed liabilities dropped by 15.6%, to 79.545 million UAH, while accounts receivable decreased by 10.5%, to…
DetailsThe Stakhanov Ferroalloy Plant, which has been almost idle since 2014 because of the military activity on the Ukraine-uncontrolled territories, cannot be put back into operation at present. According to the Association of Ukrainian Ferroalloy Producers, the works is not operating and is not managed by Ukrainian authorities. “The enterprise is destroyed, it cannot be…
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