Russian retailer Magnit and metals giant Norilsk Nickel were put on Forbes’ list of the world’s 100 most innovative companies, according to a statement on Forbes’ Web site. Magnit obtained the 53rd place on the list and Norilsk Nickel holds the 63rd position. Software developer Salesforce regained the top spot as the world’s most innovative…Details
U.K.-based mining giant Evraz, which operates mainly in Russia, plans to keep the ratio of its net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) at 2 in 2017, Vice President Nikolai Ivanov said during a conference call on August 10. “We plan no serious changes of the net debt level at the…Details
The state coal companies have started receiving budget funds to pay salary to miners. The largest part of them was used to clear debts. According to Mikhail Volynets, the chairman of the Independent Miners Union, Selidovugol has paid June salary and 10% for July. Lisichanskugol miners received all the June money and 12% for July.…Details
GRK MLD LLC intends to put its copper concentrate and cathode mining and processing works in the East-Kazakhstan region into operation this year.
According to the regional department of entrepreneurship and industrial-innovative development, investments into the project total 17.4 billion tenge. The works capacity will be 750 thousand tons of ore per year. (Ukrainian metal)
In January-June VIZ-Stal thanks to its energy efficiency improvement program decreased electricity consumption by 529 thousand kWh and of gas by 722.5 thousand cubic meters. This allowed the company to save 5.1 million rubles In particular, the company has finished modernization of two nitrogen-producing mills used in the thermal treatment of metal. The project will…Details
The Volgograd Iron and Steel Works “Krasniy Oktyabr” is carrying out modernization of the manufacturing capacities at its rolled metal finishing shop. According to the company statement, a new metal processing line is being constructed there. The foundation for the PL-250 centerless turning machine and RL-250 two-roll straightener has been complete. The foundation will be…Details
Metalloinvest and Chelaybinsk Iron and Steel Works have signed long-term contracts for the delivery of around 1.6 million tons of iron ore raw materials and pellets. According to the contract by June 30, 2018 Mikhailovsky Mining and Processing Works will have supplied some 0.6 million tons of pellets and 1 million tons of iron ore…Details
Zagorsky Pipe Works has shipped a batch of pipes to Gazprom. According to the company statement, the lot included 6 thousand tons of 1020 mm diameter pipes with the wall thickness of 14-16 mm. The pipes will be used by Gazprom transgaz Yugorsk, Gazprom transgaz Tomsk and to repair pipelines in Samara, Volgograd, Sverdlovsk and…Details
Evraz lost $556 million from selling Sukhaya Balka. According to the company statement, its consolidated losses from the currency exchange differences amounted to $586 million. The agreement to sell 99.42% of the GOK was concluded on June 1. The sum of the contract is $108 million to be paid by installments till December 31. The…Details
Evraz Group is still considering selling Evraz Yuzhkoks. “We have variants and the understanding how to sell it”, the company president Alexander Frolov said. Still, according to him, it is too early to speak of any potential deal or its terms. In October 2016 Evraz concluded an agreement to sell Yuzhkoks. The payment had to…Details
The rolls will be used in bar rolling.
According to the contract, signed in April, EMSS has produced 24 working rolls for hot-rolling with the weight of 6-16 tons. The total weight of the batch is 170.72 tons. (Ukrainian metal)
Severstal has learned of a fake electronic address: email@example.com.
This address sends out commercial offers to buy rolled metal at prices lower than current Severstal Distribution prices.
The company also reports of the phone calls with the same content.
At present Severstal is trying to terminate the illegal use of its trademark. (Ukrainian metal)
Mechel-Service has supplied 500 tons of rebars for the construction and modernization of the Novorossiysk military-navy base.
According to the company statement, the rebars for the new base have been manufactured at Chelyabinsk Iron and Steel Works. (Ukrainian metal)
Gaysky Mining and Processing Works is finishing the construction of the second branch of the pulp feed line. The new branch with the diameter of 377 mm is being constructed in the Zakladochnaya mineshaft. It will reach 885 meters. The construction is carried out taking into account the need to increase its length to reach…Details
Crimean Titanium, situated on the territory of the Russia-annexed Crimea, experienced a cave-in of a roof. “A partial cave-in of roof occurred in the pigment titanium dioxide shop. There were no casualties. The manufacturing process has been stopped, machinery has been shut down”, the company press service reported. The beneficiary of the company is Dmitry…Details
In January-June Russia considerably increased imports of metal products. According to the Federal Customs Service, Russia imported 3.018 million tons of ferrous metals, up 1.6-fold YoY. Far foreign countries supplied 1.134 million tons, while CIS countries – 1.885 million tons (0.615 million and 1.238 million tons in 2016 respectively). Ferrous metals imports not taking into…Details
In January-June Evraz increased net profit 12.3-fold YoY, to $86 million.
According to the company statement, its consolidated EBITDA grew 2-fold, to $1.152 billion, while consolidated revenue increased by 44.1%, to $5.1 billion.
Evraz’s net debt in H1 totaled $4.3 billion, down from $4.8 billion in late 2016. (Ukrainian metal)
Employees of Ak-Tyuz plant fear to hold a strike, the former chairman of the trade union Dokturbek Maychiev announced on August 10. According to him, six people were dismissed illegally, other 36 resigned voluntarily because they were tired of tolerating salary delays. “People are frightened. Those who cannot find another job are silent. They are…Details
The government of Kyrgyzstan has announced the second tender for the right to develop Tuyuk-Kargash coking coal deposit and conduct geological exploration work. The price of the right to use the subsoil is set at not less than 2,498,760 billion soms. One of the requirements for participation in the tender is payment for a short…Details
ArcelorMittal Kriviy Rih and Transinvestservice stevedoring company (TIS, Odessa region) have opened an indoor transshipment complex for metal goods worth more than $4.5 million at Yuzhny seaport (Odessa region). According to a press release from TIS, the complex includes a warehouse for 7,000 square meters with a capacity of more than 40,000 tons. Its capacity…Details
In industry prices in July increased by 1.8% after a fall of 0.6% in June and 1.3% in May. According to the State Statistics Service, prices increased by 23.3% YoY in July, and by 8% YoY in 7 months. Metallic ore mining prices dropped by 1.3%, in metal manufacture – by 2.1%, at the same…Details
The imposition of EU duties on hot-rolled metal will not affect Magnitogorsk Iron and Steel Works. “At present a minimum price of 473 euro per ton is being discussed. If the price is higher, the duty will not be imposed. This price is ok for us. We’re trading at much higher prices, so the duty…Details
In July the scrap redemption centers increased prices to the highest level in the last 3 years on the background of the world metal prices growth. The most popular metal – 4 mm thick sheet – in just a month increased in price by 26%, to 170 euro per ton, while sheet with the thickness…Details
VSMPO-Avisma is carrying out repairs of the etching rooms in press, pipe and bar-rolling shops. The cost of the project is estimated at 40 million rubles. Additional equipment is assembled in the shop No. 3 with 2 etching rooms. The rooms will have a system to measure harmful gases in the air. When the tolerance…Details
Metalloinvest has partially paid back the tranche B of the pre-export loan PXF-2017 in advance. According to the company statement, the amount of pay back is $100 million. In 2017 the company signed an agreement with a pool of banks on a $1.05-billion loan with the possibility to increase the limit by $450. PXF-2017 consists…Details
According to the energy expert Andrey Gerus, in June and July miners were not paid salary. “And that’s in the country where in the tariffs the coal price is the highest in the world – Rotterdam+”, he said. He has asked the Ministry of energy and coal industry and trade unions if they are not…Details