The management of the Vysochaishiy public joint-stock company has decided to distribute 6.378 billion rubles of net profit for 2016. 2.308 billion rubles will be sent to the development fund, of them 1.63 billion – for construction, 108.333 million rubles – for prospecting, and 1.793 billion – to cover losses of the previous years. 46.8…Details
This year Stangold LLC is working under one license only and washes for the alluvial gold at the Sirik creek valley. So far the company has obtained only 22 kg of gold, down by 2 kg YoY. The target for this year is 50 kg of gold. But the company expects to get up to…Details
In January-June Uglegorskugol LLC mined 17.733 thousand tons of coal at its Central site of the Solntsevskoye deposits. In H1 2016 the company mined 148.664 thousand tons of coal, with 337.473 thousand tons mined in the whole 2016. The decrease of the output is connected with the thinning of the licensed sites. The company has…Details
Beloretsk Iron and Steel Works has passed the audit of rebars wire and threads for the correspondence of the Slovakian norms of construction products. The certificate will allow the company to increase product range supplied to Slovakia and the number of customers. In particular, the rebars wire with 5 mm diameter and rebars 7-wire threads…Details
The supervisory board of Ogneupornerud, controlled by the System Capital Management through its daughter company UMG, has fired the company director Evgeny Tsimarman. The decision on resignation was taken on June 26. Tsimarman’s office expired on June 30. The vacant position of the CEO has been taken by the chief engineer of Druzhkovka Mine Group,…Details
An accident happened at the seized Donetsk Iron and Steel Works. The pig iron has destroyed the tap hole and spilled on the rails in the foundry shop. There were no casualties. The tap mass, used to cover the hole after pig iron manufacture, each two hours, has not been supplied to the works since…Details
Anglo Asian Mining PLC (AAM), a producer of gold, copper and silver in Azerbaijan, targets to produce up to 72,000 gold equivalent ounces in 2017, said the company’s CEO Reza Vaziri at an annual meeting. These excellent financial and production results reflect the ongoing success of the AAM’s long-term plan of sustainability and cost reduction,…Details
After the strike of workers, the processing plant Ak-Tyuz has been launched, Chairman of the Central Committee of the Mining and Metallurgical Trade Union of Kyrgyzstan Eldar Tadzhibaev reported. The plant works, but the employees have not been paid yet. Workers are ready to wait until July 10. If they don’t get their money, manufacture…Details
Prime Minister Sooronbai Jeenbekov got acquainted with the possibility of developing a gold deposit in the section “Kyldoo” in Toguz-Torou district of Jalal-Abad region near the State Natural Park “Saimaluu-Tash”, the information department of the government reported. According to it, the need for gold mining in the mine arose in connection with the depletion of…Details
The volume of Russian gold producer Polyus’ secondary public offering (SPO) amounted to $879 million taking into account the option of oversubscription or $799 million without this option, the company said in a statement. Polyus said earlier its board of directors set the SPO price at $66.5 per share. Around 9% of the company’s shares…Details
The import of coal from USA will ultimately destroy Ukrainian industry because of the high tariffs on electricity manufacture. “The increase of coal price will affect tariffs for industry, not to worsen the social tension, which is high anyway. All of us will be affected indirectly, as the prices will rise”, the energy expert Valentin…Details
Interpipe was among the companies, hit by the cyber attack on June 27. According to the company statement, at present the manufacturing and shipping processes operate in normal mode. “Some non-critical IT-services have been damaged, in particular postal client. As of early June 29 some of them have been restored”, the company said. Because of…Details
Dneprospetsstal, the largest alloyed steel manufacturer in Ukraine, is experiencing difficulties because of the scrap shortage. In case the scrap export duty of 30 euro per ton is cancelled, Ukrainian companies will have to compete with each other for the raw materials, DSS believes. “The issue of the duty for us is the issue of…Details
The Freedom of Labor Union has said on its Facebook page that it is starting its own ArcelorMittal Kriviy Rih employees flash mob. “The position of the administration is “Stay and bear it”, our is “Stay and fight”, the union said. The idea is to stay working at AMKR and struggle for the salary increase…Details
The first 120 thousand tons of coal from the USA will arrive in Ukraine by the end of July, Ukrenergo acting head Vsevolod Kovalchuk noted.
According to him, Ukraine and the USA have already clarified all the conditions of the deal on purchasing American coal. (Ukrainian metal)
Turkish ports refuse to accept ships with scrap coming from Crimea. “As to the scrap bound for Turkey, we see that the country does not accept the ships. Ship owners ask us not to fine them”, the acting director of the Crimean seaports “state enterprise” Yuri Chernenko declared. In late October last year Turkey resumed…Details
Novgorodsky Iron and Steel Works, a part of Russian Copper Company, is repairing gas filters of its MAERZ copper furnace. The scheduled repairs of the filter will end in early July. “The operation of the MAERZ furnace is impossible without the gas filter, as it provides for the environment and labor safety. After the modernization…Details
The gold-mining company HERGU has so far obtained 114 kg of alluvial gold.
This year the company intends to yield 700 kg, down by 40 kg YoY.
In 2015 HERGU obtained 675 kg of gold. (Ukrainian metal)
In January-May Kamensk-Uralsk Non-Ferrous Metals Processing Works increased output – mostly following the restoration of local demand. In particular the company produced 525 tons of non-ferrous wire, 99 tons of ingots, 446 tons of strips and sections, as well as 5340 tons of rods, all up by 49%, 79%, 103% and 1% YoY respectively. “These…Details
Cherepovets Iron and Steel Works has improved the output of the continuous hot galvanizing machine in its plating shop No. 1.
The machine speed was increased to 180 meters per minute.
With the improved operation the shop has already produced 4 coils of galvanized metal with the total weight of 100 tons. (Ukrainian metal)
Yenakievo Iron and Steel Works, “nationalized” by the so-called Donetsk People’s Republic, a terrorist organization created and supported by Russia, intends to put its second blast furnace in operation in July.
The head of the local terrorists Alexander Zakharchenko has also promised to solve the coking coal sales problem. (Ukrainian metal)
In April Metinvest EBITDA increased by 41.67% MoM, or by $40 million, to $136 million, while its net income dropped by 9.1%, or by $60 million, to $603 million. According to the company statement, in April it sold 183 thousand tons of semi-finished products valued at $74 million. The group also sold 597 thousand tons…Details
President of the United States Donald Trump is ready to sell “millions and millions of tons of coal” to Ukraine. Trump announced his plans to export coal to Ukraine. “Ukraine already tells us they need millions and millions of metric tons of coal,” Trump said at an event at the Department of Energy. “Right now,…Details
The board of directors of the Russian gold producer Polyus has set the price of its secondary public offering (SPO) at $66.5 per share, the company said in a report on June 30. Polyus planned to offer from 7% to 9% of its capital, including $400 million worth of new shares and existing securities, including…Details
International rating agency Fitch has improved its outlook on ratings of the Russian pig iron producer Koks Group to Stable from Negative as liquidity risks have shrunk after the placement of $500 million worth of 2022 bonds at 7.75%, the agency said. “At end-May the Fitch-calculated liquidity ratio improved to well above 2x, a level…Details
Azerbaijan’s AzerGold CJSC sold a batch of gold and silver on the world stock exchange, gaining profit worth $20.905 million (35.6 million manats). “72 gold-silver alloys extracted by AzerGold at the Chovdar mining complex processing gold-bearing ores in Azerbaijan’s Dashkesan district were sent for refining to the world-renowned Argor-Heraeus gold refinery in Switzerland,” AzerGold said…Details