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Global rating agency Fitch has revised the outlook for the ratings of gold mining company Nordgold, controlled by Russian businessman Alexei Mordashov, to Positive from Stable, the agency said in a release. The company’s long-term issuer’s default rating has been affirmed at “BB-“. “The affirmation of the company’s ratings reflects operational and financial results in…
DetailsIn the past several years the gold contents in the ore at Makmalzoloto have decreased 2-3-fold. The works could operate with what it has by the start of H2 2018 at best. The depth of ore has also increased – by almost 120 meters from the bottom of the quarry, resulting in the increase of…
DetailsAccording to the ex-director of the PR department of Naftogaz Ukrainy Valentin Zemlyansky, imported coal will cover only half of what is needed to prepare for the next heating season. It is expected that new contracts for the delivery of coal from SAR and Australia will be concluded, and the first batches will arrive in…
DetailsThe largest coalmine in Donbass – Komsomlets Donbassa – has been put out of operation. The mine is a part of DTEK, owned by Rinat Akhmetov. Most of the personnel were sent into unpaid vocation on March 3. Only the servicing employees were left who pumped water from the mine and controlled gas level. According…
DetailsIn 2016 Chelyabinsk Zinc Works, the largest Russian zinc and alloys manufacturer, a part of UMMC, produced 174803 tons of Special High Grade zinc and alloys, up by 2.2% YoY. Nova Zinc LLC in 2016 produced 36718 tons of zinc concentrate (36770 tons in 2015), and 5677 tons of lead concentrate (5655 tons). The Brock…
DetailsThe Federal Antimonopoly Service has allowed the Tominsky Mining and Processing Works (a part of the Russian Copper Company) to buy a 50% stake in Chelyabinsk Coal Company. In October 2016 the press-service of the Chelabinsk region governor reported RMK planned to acquire shares of ChUK to recultivate Korkinsky coal pit. RMK needed the deal…
DetailsYakutugol, a part of Mechel, has started operations at the open-pit coalmine at the Jebariki-Khaya site. In summer 2016 the company stopped using underground method of mining at the site. For open-pit mining Yakutugol bought all the necessary machinery: excavators, bulldozer, dump trucks, etc. The project capacity of the pit is 320 thousand tons of…
DetailsThe manufacturing company DIA has started making new products – oval-section pipes. The flat half-ovals are in demand by furniture manufacturers. The company specialists have developed the necessary rolling tools for the production of the new pipe. (Ukrainian metal)
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