Russia: UEM to increase investments

In 2017 Uralelectromed will increase its investment program 1.8-fold YoY, to 4 billion rubles.

Construction of industrial objects and the development of heat and electricity generation will see the most investments.

The key project is the construction of the second stage of copper electrolyses shop. (Ukrainian metal)

Ukraine: VostGOK purchases to be checked

The Ministry of energy and coal industry of Ukraine initiates an audit of foreign purchases of uranium concentrate by the state enterprise Vostochniy Mining and Processing Works. According to the prosecutor of the specialized anticorruption prosecutor’s office Igor Symkiv, under the criminal case of Nikolai Martynenko the energy minister Igor Nasalik has been questioned and…

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Ukraine: Martynenko suspected of VostGOK money embezzlement

The ex-people’s deputy Nikolai Martynenko is suspected of embezzling money of the state enterprise Vostochniy Mining and Processing Works. “The investigation showed that in 2013-2016 the employees of VostGok, Steuermann Investitions und Handelsgesellschaft mbH, as well as some individuals with control over the companies, including Martynenko, embezzled the funds of VostGOK in the amount of…

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Russia: copper output in Q1 2017

In January-March Russia increased raw copper output by 3.3% YoY, while the production of copper alloys dropped by 22.7%. According to the Federal Service of State Statistics, copper flakes and powders output decreased by 5.4%, of rods and shapes – by 28.4%, at the same time wire production went up by 15%, and foil –…

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Russia: TMK sales up in Q1 2017

In January-March the Pipe Metal Company sold 850 thousand tons of pipes to customers, up by 0.6% YoY. According to the company statement, seamless pipes sales increased by 16.7%, to 658 thousand tons thanks to the stable demand form oil-and-gas companies. Welded pipes sales dropped by 31.8%, to 192 thousand tons, mostly because of the…

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Russia: Schelmet to produce tin-plate

The authorities of the Schelkovo district of the Moscow region were presented the project of modernization of Schelkovo Iron and Steel Works and the putting into operation of the tin-plate line. According to the production workshop head Vladimir Merkulov, investments will total some 3.5 billion rubles. The main problem in the realization of the project…

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Russia: Kolmar to construct 2 factories

In 2017-2019 Kolmar intends to spend some 17.4 billion rubles to develop the Inaglinsky mining and processing complex and 11 billion rubles to modernize the Denisovsky GOK in Yakutia. Inaglinsky includes an open-pit and Inaglinskaya mine, as well as the Inaglinskaya-2 processing factory. At present the open-pit yields some 2 million tons of coal and…

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