The supervisory board of Dneprospetsstal at the meeting on April 24 relieved the acting chairman Vitaly Korniyesvky of his duties from April 30. Sergey Kiyko, the first deputy, financial director, has been appointed a new acting chairman from May 1. Moreover, on April 23, shareholders completely changed the revision commission. Instead of Crascoda Holdings Limited…Details
Belarus Iron and Steel Works has borrowed 5 million euro and $8 million from Novikombank, Russia.
The funds are provided to purchase raw materials among other things.
The parties have been cooperating since 2012. (Ukrainian metal)
“Development of uranium brings more harm than economic benefits,” Orozbek Duisheev, head of the Association of Mining Operators and Geologists of Kyrgyzstan, said at public hearings on May 7. According to him, there is no uniform policy in the mining industry today. In the end, everyone does what he wants. And as the result, as…Details
As of May 3, Polyus Aldan has produced 2 tons of gold, almost 10 days earlier than last year.
The company is able to extract 70% of gold from ore with low gold content.
This year Polyus Aldan will turn 95. (Ukrainian metal)
The iron ore shop of the Mednogorsk Copper-Sulfur Works has received a new locomotive, assembled at the Shadrinsk Auto-Aggregate Works. The works started manufacturing such locomotives in early 2018. This is the fifth locomotive purchased by the MMSK to modernize its rolling stock. In 2014-2018 the works has modernized 4 locomotives. One more will be…Details
In April, Russian railroad transported 107.1 million tons of cargo, down by 1.9% YoY. At the same time, in January-April, transportation grew by 0.1%, to 425.8 million tons. 39.4 million tons accounted for iron and manganese ore, up by 6.8%. Russian railroad transported 25.7 million tons of ferrous metals, down by 2.8%, as well as…Details
In 2018 Kremenchug Metal Wares Works received net profit of 417 thousand UAH as opposed to net loss of 14 thousand UAH in 2017.
The company net income grew by 10%, to 27.207 million UAH.
Undistributed profit totaled 4.257 million UAH. (Ukrainian metal)
Prices of precious metals increased in Azerbaijan on May 7 compared to the prices on May 6. The price of gold grew by 0.5865 manats, to 2,180.5475 manats per ounce. The price of silver went up by 0.0905 manats, to 25.3462 manats per ounce. The price of platinum increased by 33.983 manats, to 1,500.3860 manats…Details
There are no large deposits in Kyrgyzstan, only two medium ones – Sary-Dzhaz area and Kyzyl-Ompol placer deposit, Karybek Ibraev, Deputy Chairman of the State Committee for Industry, Energy and Subsoil Use, said on May 7 at public hearings. According to him, there are about 8,000 tons of uranium in Sary-Dzhaz area and some 13,000…Details
Mangazeya Mining Ltd, mining gold in Zabaikalye region, in 2018 increased output by 13.9% YoY, to 27.7 thousand ounces. In particular, output at the Savkinskoye deposit dropped by 19.1%, to 19.7 thousand ounces. Operation at the Kochkovskoye deposit started in April 2018. Since then 6.56 thousand ounces of ore gold and 1.44 thousand ounces of…Details
Severstal has signed a binding agreement to sell Severstal – Bar Works Balakovo to Abinsk Electrometallurgical Works LLC for $215 million. The deal is expected to be finalized in H1. After the sale the group will concentrate on the manufacture of steel at its main asset – Cherepovets Iron and Steel Works. Bar Works Balakovo…Details
“The draft law on imposing a moratorium on uranium mining in Kyrgyzstan is initially clear and short to avoid some interpretations and loopholes,” MP Kanat Kerezbekov said at public hearings on May 7. According to him, this decision was made in order to avoid future extension of licenses for prospecting and exploration of uranium The…Details
Fitch Ratings has improved Metalloinvest ratings to BB+ with stable outlook from BB positive. The move reflects the strong operational profile of the company with the strategic focus on high-added value products, competitive position, considerable liquidity, and increase of financial indexes, as well as takes into account of the company progress in improving corporate management.…Details
In April, Ukraine produced almost 2.5 million tons of coal, down by 2% from the target. This has been reported by the Coal Miners Union of Ukraine with a reference to the data provided by the Energy and Coal Industry Ministry. “In April, coal mining enterprises of Ukraine of all forms of ownership produced 2,466,500…Details
Energomashspetsstal has shipped a large hammer frame to Germany.
The frame was shipped under the contract with LASCO Umformtechnik GmbH.
The weight of the frame is 61 tons.
This is the 17th hammer frame produced by EMSS for LASCO Umformtechnik GmbH.
The next frame will be shipped in October. (Ukrainian metal)
In 2018 Susumanzoloto, extracting gold in Murmansk region, decreased net profit by 30.1% YoY, to 1.261 billion rubles.
Revenue grew by 21.05%, to 16.217 billion rubles, including 16.075 billion from the sale of gold.
The company sold 6072.9 kg of gold last year as opposed to 5415 kg in 2017. (Ukrainian metal)
All the Electrozinc shops in Vladikavkaz have ceased operation activity, and all the machinery has been shut down. On October 21, 2018, Electrozinc suffered from fire on the territory of 4.5 thousand square meters. One fireman perished and two were injured. On December 14, 2018 the company announced it would be completely shut down. (Ukrainian…Details
In 2018 Poltava Mining and Processing Works increased net income by 10.3% YoY, to 22.472 billion UAH.
Net profit grew by 22.8%, to 5.237 billion UAH.
EBITDA went up by 0.7%, to 6.076 billion UAH.
Undistributed profit totaled 6.537 billion UAH. (Ukrainian metal)
In 2018 Marganets Mining and Processing Works received 163.2 million UAH of net profit, down 5-fold YoY.
EBITDA decreased 4.9-fold, to 203.387 million UAH.
Last year MGOK received 3.109 billion UAH of net profit, down by 15%.
Undistributed profit totaled 698.543 million UAH. (Ukrainian metal)
In January-March, Ukraine increased manganese ore imports by 50% QoQ, to 360 thousand tons.
In particular, Ghana supplied 76% of the ore (275.6 thousand tons), Russia – 16%, or 56.8 thousand tons and Georgia – 8%, or 28.5 thousand tons. (Ukrainian metal)
In January-March, Metalloinvest decreased pig iron output by 13.9% QoQ and by 5.3% YoY. The decrease has to do with repairs of blast furnaces and the drop in the domestic consumption. Steel output fell by 10.5% QoQ and by 4.2% YoY, to 1.2 million tons. The share of high-added value products in sales totaled 45.6%…Details
In January-March, Rusal decreased aluminum manufacture by 0.3% YoY, to 928 thousand tons. Siberian plants accounted for 93% of the aluminum manufactured. Sales totaled 989.6 thousand tons, with high-added value products sales down by 22.2%, to 259 thousand tons. Average price decreased by 7.8% QoQ, to $1949 per ton. Aluminum foil and packaging production dropped…Details
Prices of precious metals increased in Azerbaijan on May 6 compared to the prices of May 3. The price of gold grew by 17.765 manats, to 2,179.9610 manats per ounce. The price of silver went up by 0.3893 manats, to 25.2557 manats per ounce. The price of platinum increased by 20.3405 manats, to 1,466.4030 manats…Details
President of Kyrgyzstan Sooronbai Jeenbekov promised that uranium would not be mined in Kyrgyzstan. He stated this at a meeting with the judges of the Constitutional Chamber. “We must transfer to the next generation a unified society, a law-governed state. We have to preserve clean, green nature. Taking this opportunity, I want to say that…Details