In July enterprises of the mining and metallurgical sphere mostly increased average salary, except for pipe companies. In particular, the average salary at mining companies was 17,796.8 UAH, up by 10.6% MoM. At by-product coke plants the average wage was 19,102.9 UAH (+0.7%), ferrous metal companies – 17,807.9 UAH (+0.5%), non-ferrous metallurgy – 11,911.7 UAH…
DetailsBaikal Mining Company has concluded an agreement with Renaissance Heavy Industries to build the first stage of the Udokan Mining and Metallurgical Plant with the capacity of 12 million tons of ore per year. The price of the agreement is some 28 billion rubles ($420 million). The company will have to construct a technological complex,…
DetailsIn June Russia exported 11 thousand tons of flat aluminum, up by 5.8% MoM and by 6.8% YoY. Deliveries to Poland grew by 17%, to Finland – by 20% and to Ukraine – by 16%, to 3.6, 1.2 and 1 thousand tons respectively. At the same time exports to the USA dropped by 25%, to…
DetailsVorkutaugol has purchased licenses to develop two new blocks of Vorshagorskoye coal deposit with the combined reserves of 20 million tons. The block 43 has 19.4 million tons of rock and 9.1 million tons of coal. The company intends to start developing it in autumn of 2022. In 6 years the Vorshagorskaya mine will launch…
DetailsMetalloinvest is constructing a ball-rolling mill at Oskol Electrometallurgical Works. The mill will be able to produce some 43 thousand tons of milling balls with the diameter of 100-120 mm per year. Investments will amount to 1 billion rubles. 85 jobs will be created. The commission of the mill is scheduled for Q4 2020. (Ukrainian…
DetailsAccording to the results for the first half of 2019, the implementation of programs aimed at improving production efficiency at the Magnitogorsk Iron and Steel Works (MMK) has had an economic impact in excess of $38.3 million. As part of the strategic initiatives adopted in 2015 aimed at improving operational and functional efficiency, the MMK…
DetailsThe 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…
DetailsDue to a technical issue, Fastmarkets MB’s 65% Fe Brazil-origin iron ore fines index data series found in the Fastmarkets Excel Add-in had some missing data. The missing data was scattered from November 2014 to March 2015. The missing data was from November 26, 2014 to December 5, 2014; December 16, 2014; from December 22,…
DetailsIndian government has sought inputs from the steel industry for usage of LD slag in the next two weeks as it has been accumulating over the years and posing a problem. LD slag a by product of a steel making process, is not used in India unlike the blast furnace slag which is being commercially…
DetailsImport share, as a proportion of apparent finished steel consumption, in the EU, has been on an upward trend for several years. However, this largely remained below 20 percent, prior to 2018. The US government’s application of Section 232 tariffs, from March 2018, disrupted international trade flows. This caused concern amongst many steelmakers, in the…
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