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The State Property Fund of Ukraine has taken the United Mining and Chemical Company under its management. All the shares of the company have been transferred from the Ministry of the Economic Development to the fund for the further privatization. The state enterprise estimates its assets at 3.4 billion UAH. (Ukrainian metal)
DetailsIn July Metinvest increased EBITDA by 54.3% MoM, to $145 million. Revenue dropped by 3.7%, to $946 million. Debts fell by $22 million, to $2.7 billion. In January-June Metinvest decreased net profit by 39% YoY, to $408 million. Revenue dropped by 6%, to $5.8 billion, and EBITDA – by 33%, to $890 million. (Ukrainian metal)
DetailsAccording to the Spetsstal Association, in January-August Krasniy Octyabr Iron and Steel Works returned as a leader of stainless steel manufacture. The share of the company in the overall Russian output was 30.7%. In 8 months Russia’s stainless steel manufacture grew by 9.8% YoY, to 56520 tons. (Ukrainian metal)
DetailsIn 2020 Lebedinsky Mining and Processing Works will be switched to operation under tax monitoring. This will be the first Metalloinvest enterprise to start using the advanced format of cooperation with tax services. The enterprise is one of the largest taxpayers in Belgorod region – last year it paid over 21.4 billion rubles of taxes…
DetailsIn July-September Elgaugol increased coal output by 3% QoQ, to 1.1 million tons. Excavating works grew by 1%, to 2.2 million cubic meters. Coal processing went up by 10%, to 712 thousand tons, and sales – by 9%, to 945 thousand tons. (Ukrainian metal)
DetailsKoksoviy Site LLC, a part of the PMH, in Kemerovo region has assembled the last of the new 90-ton BelAZs. Under the contract the enterprise has received 31 quarry dump trucks. The first trucks started operating in June, while the last would start operating in October. The machines will be used at one of the…
DetailsAt a meeting held on October 24 the Board of Directors of NLMK Group approved of the new composition of the group’s Management Board. The board consists of: Grigory Fedorishin, President (Chairman of the Management Board); Mikhail Arkhipov, Vice President, HR & Management System; Tatiana Averchenkova, Vice President, Operational Efficiency; Ilya Guschin, Vice President, Sales;…
DetailsNLMK Group has announced its Q3 financial results. Revenue amounted to $2,576 million, down by 8% QoQ, with an EBITDA margin of 25%. Free cash flow totaled $249 million, down by 3%. NLMK Group CFO Shamil Kurmashov: “Q3 saw the situation on the steel markets aggravate due to a weakening in demand and the resulting…
DetailsAt a meeting held on October 24 NLMK Group’s Board of Directors recommended the company’s shareholders to approve Q3 dividends of 3.22 rubles per share at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on December 20. This is approximately equivalent to 120% of the company’s free cash flow based on its IFRS…
DetailsRussian precious metals producer Polymetal International increased gold production by 25% YoY, to 1.005 million ounces, while silver output fell by 16%, to 16.4 million ounces in January-September. “Continued strong performance at Kyzyl is driving our production dynamics. We now expect to exceed our full-year production guidance (of 1.55 million ounces by up to 50,000…
DetailsIn January-September gold output in Magadan region increased. In particular, as of October 1 the region has extracted 36.1 tons of gold, up by 6.3 tons YoY. Silver output totaled 492.8 tons. Tenkinsky City District mined the most ore gold – 14.5 tons. Alluvial gold accounted for 15.8 tons, with Yagodinsky City District yielding 6.2…
DetailsZlatoust Electrometallurgical Works is carrying out a capital repair of one of its main technological machines of the first rolling cycle. The repair of the continuous heating furnace will last for 21 days and will be finished on November 3. The medium-section mill-400 produces wire rod and round sections with the diameter of 25 to…
DetailsOn November 25 the Zaporizhstal shareholders meeting will approve of appointing Alexander Mironenko the new CEO of the company. Mironenko will replace Rostislav Shurma. Shurma has been chairing the company for the past 7 years, and have been working for Metinvest for 13 years. In early October local media spoke of the Metinvest supervisory board…
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