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Russian businessman Maksim Vorobiev and his investment fund Amereus Group have purchased 3.00674% of shares of Kaz Minerals. The share of Vorobiev is 1.62043%, and of Amereus Group, wholly owned by Vorobiev, – 1.38631%. Vorobiev and the fund have bought the shares on the open market, so the shares of the major shareholders have remained…
DetailsThe authorities of the Tambov region have decided to develop the Central titanium deposit themselves. The deposit is considered to be one of the largest in the world. The regional administration bought out the right to develop the deposit from VSMPO-Avisma in 2008. The license is expected to have been received by the end of…
DetailsIn August Energomashspetsstal sold 460 tons of products to 10 Ukrainian companies. In particular, the buyers were Magma LLC, Furlender Windtechnology LLC, Mariupol Ilyich Iron and Steel Works, etc. The company is also engaged in the manufacture of spare parts for Kramatorsk wind plants. Last month EMSS shipped the 12th frame of the gondola with…
DetailsKazakhstan mining company Eurasian Resources Group intends to implement a Bamin iron ore project in Brazil and is negotiating with several probable partners. The cost of the project is $2.6 billion, of which some $1 billion accounts for the construction of a railroad and a deep-sea port. The project was initiated in 2005, but was…
DetailsOpposition MP Sergey Bagratyan from the Prosperous Armenia (BHK) party suggests setting up an ad hoc committee to validate the report issued by Lydian Armenia, the gold developing company that seeks to resume operations at the Amulsar mine. “The figures in Amulsar operating Lydian Armenia’s reports, according to estimates of our experts, are highly exaggerated.…
DetailsArcelorMittal Kriviy Rih might be forced to suspend the operation of its mine named after Artem in case the duty for iron ore mining is increased according to the draft decree No. 1210 submitted to the Verkhovna Rada. “If the state wants raw materials processing to be 100%, it will be 100%. But then we…
DetailsEconomic Times reported that Jindal Steel & Power Ltd MD Mr VR Sharma in an interview with ETNOW, while replying to a question “How much of your debt is coming up for maturing in FY20? What exactly is your plan to service the same?” said that “Debt is a financial mechanism. No industry will survive…
DetailsChina's Dalian iron ore futures rose for a third session on Wednesday, boosted by falling shipments from big miners and hopes of further economic stimulus by the country, after it scrapped restrictions on two major inbound investment schemes. The most actively trade iron ore futures contract on the Dalian Commodity Exchange, for January 2020 delivery,…
DetailsSpot prices for battery-grade lithium hydroxide in China were down this week due to ample availability of the material and a lack of significant demand ahead of national holidays in the country to mark the Mid-Autumn Festival (September 13-15). Battery-grade lithium hydroxide prices across other global regions were similarly down, with participants citing wide availability…
DetailsReuters reported that proceeds from a potential sale of Thyssenkrupp’s elevator division must stay with the group. A leading labor representative rejecting the idea of a special dividend for shareholders said that “We won’t let that happen. The steel unit needs sufficient funds just like the other business areas.” His remarks come a day after…
DetailsSentiment in the European market for hot-rolled coil (HRC) has been gloomy in the week ended Thursday September 12 due to low demand, sources told Fastmarkets. While domestic prices have been relatively stable over the past week, buyers have been targeting lower prices and they expected the mills to slightly decrease their prices in the…
DetailsA global leader in special long steel SCHMOLZ + BICKENBACH lowered its earnings forecast for the 2019 financial year on the basis of the preliminary figures for the first eight months of 2019 available at the end of August. The company is now forecasting adjusted EBITDA of between EUR 70 million and EUR 100 million.…
DetailsChinese iron ore futures rose for a second day on Tuesday on expectations the country will enact more economic stimulus measures that would boost steel demand in the world's largest consumer of the metal. The country plans to create favourable conditions for private Chinese companies and to improve the competitiveness of its manufacturing sector, as…
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