The Russian Finance Ministry has offered to raise the mineral extraction tax (MET) on non-hydrocarbon mineral resources to hurt the coal industry most. The ministry suggests a new addend to the coal MET, depending on the global energy and coking coal market situation. The addend will not be used once exports prices fall beyond a…Details
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Olkon has started developing the Central Quarry. The license was acquired in July 2019. The site is situated near other quarries already in development. The deposits amount to some 6.8 million tons of iron ore. This year it is planned to mine some 350 thousand tons of ore there. The development of the quarry will…Details
The board of directors of the Russian gold producer Polyus plans to recommend paying $462 million in dividends for July-December 2019, the company said in a statement on February 11. “Based on the current number of shares, the expected amount of dividends is $3.5 per common share. The amount of dividend payments for the entire…Details
The Belarusian steel mill BMZ shipped over $427,000 tons of metal products worth over $167 million to African countries in 2019. The growth rate reached 180.8% in physical terms and 153.4% in monetary terms as against 2018. As far as regional distribution is concerned, countries of the European Union and Russia were the top export…Details
The volume of metal products sold via the Belarusian Universal Commodity Exchange (BUCE) in January amounted to Br90 million, up by 8% YoY, the BUCE press service reported. Ferrous metals and goods made of them dominated the structure of the sales. These products accounted for 83% of the total trade turnover in the section of…Details
A company, which has obtained a license for exploration of a coal deposit, has temporarily suspended its activities, Head of Alai district of Kyrgyzstan, Zamirbek Moldokulov, has reported. According to him, a meeting with residents of Lenin village on the coal deposit, located in Taigak-Tash area, has been held. “It was not a rally, but…Details
This year Olkon’s investment program will total 2.86 billion rubles. In particular, 1.4 billion rubles will be invested in projects to improve efficiency and develop manufacture, as well as increase iron ore concentrate quality. Some 1.46 billion rubles will be spent to maintain and replace main funds of the company, including to modernize mining and…Details
In January the last batch of machinery produced by Tyazhmash for Agarak Copper-Molybdenum Works was shipped. The batch consisted of the second of two mills with all the necessary accessories. The first mill was delivered in November 2019. (Ukrainian metal)Details
Electrocable Kolchugino Works has purchased five new lift-trucks. Their combined cost exceeded 13 million rubles. In particular, the company bought one 16-ton forklift diesel loader and four 3- and 5-ton loaders. The new machines will replace outdated units. This year Electrocable intends to buy 4 more loaders. (Ukrainian metal)Details
Evraz NTMK has started producing KR140 crane rails. Now the rail and beam shop is capable of producing all five types of these rails – from KR70 to KR140. New rolls have been purchased in order to produce new rails. One meter of the crane rail weighs some 150 kg. The length of each rail…Details
In January Ukraine exported 631.309 thousand tons of semi-finished steel products valued at $232.382 million, down by 25.2% and by 35.9% YoY respectively. According to the customs statistics, the main customers were Turkey (32.58%), Italy (20.53%) and Bulgaria (11.25%). In January Ukraine imported 2.392 thousand tons of semi-finished products, down 5.3-fold YoY, valued at $967…Details
In November 2019 Metinvest B. V. decreased revenue by 13% MoM, to $693 million. Metal segment revenue totaled $576 million and mining – $188 million. Inner-group sales were at minus $72 million. EBITDA decreased to minus $2 million. Metinvest debt grew by $14 million, to $2.971 billion. (Ukrainian metal)Details
In 2019 Kazakhstan exported 28.1 million tons of coal, down by 3.8% YoY. According to the Ministry of Industry and Infrastructure Development, the export decrease is due to the drop of coal demand on foreign markets. Exports to Russia went down by 4.1%, to 21.01 million tons, and to far foreign countries – by 23%,…Details