The largest investment project to create iron ore manufacture in Kriviy Rih, carried out by Canadian Black Iron, has reached its final stage. Since 2010 Black Iron has been operating in Ukraine via the Shimanovskoye Steel LLC and investing in the creation of a mining-processing works with the capacity of 8 million tons of iron…
Shareholders of the Yuzhniy Mining and Processing Works intend to spend a part of profit for 2018 (7.133 billion UAH) to pay dividends. This amounts to 4.484251 UAH per ordinary share. The issue will be discussed at the meeting scheduled for July 19. (Ukrainian metal)
Vostoc-2 miners team, the only alluvial gold extractor in Sakhalin region, in the first two months of the washing season has obtained 10 kg of the precious metal, down 2-fold YoY. The decrease in the output is due to the lack of bulldozer engineers at the start of the season. In July the team plans…
The sinking of a Skipovo-Kletevaya mine shaft has begun at the Novo-Uchalinsky mine of the Uchaly Mining and Processing Works. 55 employees are involved in the work. This year it is expected to sink the shaft to 330 meters. The construction of the shaft will be finished in 2024 at the depth of 1530 meters.…
A construction of a water pipeline from the village of Sosenki to the city district of Troitsk has begun. The diameter of the pipeline will be 1,000 mm. The pipes of high quality pig iron manufactured by Svobodniy Sokol have been chosen for the construction. (Ukrainian metal)
The state enterprise Pervomayskugol reorganization committee chairman Anatoly Zhilenko was denied entry to the territory. On July 4, he together with the director of the coal industry department of the Ministry of energy and coal industry Alexander Vladychenko arrived in Pervomaysk. Vladychenko had to present Zhilenko, but the employees of all the four mines gathered…
ArcelorMittal Kriviy Rih has invested 6.3 million UAH in the purchase of a locomotive and 20 new cars for the Artem 1 mine. The cars started transporting rock and ore in June, and the 14KA locomotive – in July. AMKR mines operate 30 locomotives. This year the company intends to invest 142 million UAH in…
MMK has completed the repair of the small-section mill-170. The mill saw repair of its heating furnace, as well as the replacement of all Stelmor fans. The contract to modernize the mill was concluded in late 2017 with Danieli and Officine Meccaniche S.p.A. The cost of the contract was 5.5 million euros. At present both…
The Corporate University of NLMK Group, a global steel company, has become a member of the European Foundation for Management Development (EFMD), a leading international association. This not-for-profit membership organization brings together leading business schools and companies committed to developing management systems. EFMD offers accreditation services to business schools, corporate universities, and training programs, and…
Severstal has completed the large-scale modernization of the rotary kiln No. 2 in the metal treatment shop No. 1 of Cherepovets Iron and Steel Works. The total cost of the project amounted to 230 million rubles. The kiln modernization will considerably improve the heating quality of the high-strength grade steel after it is rolled at…
The Dneprovsky Iron and Steel Combine problems could result in it suspending operation. The company debt burden is 83 billion UAH. Such a debt was accumulated due to the Industrial Union of Donbass (ISD) shareholders using various grey schemes, as well as a number of strategic mistakes. In particular, ISD was not able to construct…
Electric energy expenses of industrial consumers have grown by 22%, and the full price has reached 1.93 UAH per kW-h. According to Interpipe, on July 1-2 the average electricity price was 1.58 UAH per kW-h, roughly on par with the June level. But now a tariff of Ukrenergo has to be added to this price,…
Russian aluminum giant UC RUSAL has set the final coupon guidance for 15-billion ruble 10-year exchange bonds at 8.6%, which corresponds to a yield of 8.78% to a 3.5-year buyback offer, a banking source reported. The initial coupon guidance amounted to 8.6-8.75%. The technical placement of the bonds is preliminarily scheduled for July 11. Otkritie…
Severniy Mining and Processing Works is carrying out an energy efficiency program to install lighting in shops. Investments this year will amount to some 50 million UAH. At the first stage lamps will be replaced in 4 shops, ore-processing and crushing factories. The ore-processing factory No. 1 will see the largest replacement – 5800 lamps.…
KAZ Minerals and China Nonferrous Metal Industry’s Foreign Engineering and Construction Company Ltd (NFC) have finalized a deal to sell 19.4% in the Koksay copper project for $70 million. Koksay is a promising project to develop a copper quarry situated in 230 km from Almaty. The reserves of the deposit are 736 million tons of…
Industrial-Metallurgical Holding has appointed Alexander Kukolev the CEO of its subsidiary – PMH-Ugol. He has replaced Andrei Sushentsev, who has been heading the company since 2018. Kukolev started working at the Berezovskaya Central Processing Factory in 1999. In August 2015 – February 2016 he has been the first deputy CEO at Koks-Mining LLC, before returning…
In January-June the Dalpolymetal Central factory processed 486 thousand tons of ore, up by 0.4% from the target. In Q2, 255 thousand tons of ore were mined, up by 10 thousand tons QoQ and by 0.1% from the target. If the output level is maintained, the company could exceed the last year record, the highest…