The Arbitrary Court of Moscow has declared ineffective the decree of the Federal Agency on Subsoil Use on the revocation of license to prospect and mine gold ore at the Zegengolskoye deposit in the Republic of Buryatia issued to the Mining Company Olimp LLC. The 9th Arbitrary Court of Appeals declared the decree ineffective in…Details
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Severstal has announced its capital investment program for 2020. Severstal plans to invest approximately 110.5 billion rubles in 2020, focusing on the key areas of the company’s updated strategy as disclosed during its Capital Markets Day in November 2019 – providing a superior client experience, maintaining cost leadership and embracing new opportunities. However, as previously…Details
Last week, the price of one ounce of gold increased by over 26.3 manats ($15.4) or by 0.9%, to 2,677 manats ($1,574). The price of one ounce of silver decreased by 0.05 manats ($0.03) or by 0.2%, to 30.3 manats ($17.8). The price of one ounce of platinum dropped by 41.5 manats ($24.4) or by…Details
President Volodymyr Zelensky has called on the United States to cancel for Ukraine the 25% duty on steel imports. He stated this at a joint press conference with U.S. Secretary of State Mike Pompeo. “We also expect that the United States will be able to remove trade restrictions such as the 25% protective tariff on…Details
Severstal is negotiating the purchase of Liskimontazhconstruktsia steel pipe manufacturer with its owners. “It’s too early to speak of the sale, but the negotiations are underway”, a source in the regional authorities reported. The rumors of the change in the company ownership started circulating several years ago. The company had difficulties with sales due to…Details
Buryatzoloto has increased the statutory capital of its daughter company Irokinda LLC from 10 thousand rubles to 1.142 billion rubles. The changes were made on January 28. Buryatzoloto owns 100% in Irokinda. All the active licenses have been transferred to the daughter company – for Zhanokinskaya field, Severniy site and the Irokindinskoye deposit. (Ukrainian metal)Details
The Polymetal board of directors has approved of a payment of special dividends for 2019 in the amount of $0.2 per ordinary share. The total amount of dividends to be paid is $94 million. The dividends will be paid on March 5 in dollars. (Ukrainian metal)Details
Mikhailovsky Mining and Processing Works has received a new locomotive. The machine will be used to transport cargo from the Pogruzochnaya station to the Kurbakinskaya station of the Moscow Railroad. The new locomotive helps decrease fuel consumption and has improved labor conditions. (Ukrainian metal)Details
In 2019 Metinvest increased steel output by 3% YoY, to 7.578 million tons. In particular, Mariupol Ilyich Iron and Steel Works increased manufacture by 321 thousand tons due to the commission of the continuous casting machine No. 4. At the same time, Azovstal decreased output by 66 thousand tons because of the pig iron production…Details
Russian Railways has agreed with Kazakhstan on a 65% discount on Russian coal transit to China, Deputy CEO Alexei Shilo has said at a briefing. “Since we cannot move from Kuzbass to the East via Mariinsk–Mezhdurechensk with the amount that the cargo consignors want, we have offered: let’s see how to go to Kazakhstan and…Details
In 2019 Metinvest increased iron ore concentrate output by 6% YoY, to 29.028 million tons. The increase was due to the growth of ore mining, machinery fleet update and the increase of its efficiency at Severniy Mining and Processing Works. In Q4 2019 concentrate manufacture remained almost unchanged QoQ, at 7.278 million tons. (Ukrainian metal)Details
A Ukrainian court has limited 50.3% of Ferrexpo Poltava Mining (FPM) shares, belonging to Ferrexpo AG Switzerland, the only shareholder. Ferrexpo AG says the arrest does not affect the ownership of the shares, but prohibits their transfer. The group believes this is connected with issues of the company beneficiary Konstantin Zhevago and a company he…Details