Russia: Nesis buys Polymetal shares

Group IST of Alexander Nesis, through Powerboom Investments Limited, has increased its share in the gold-mining company Polymetal to 27.13% from 26.87%. Nesis bought 1.895 million shares, or 0.26% of the stake. As the shares are sold at around 10 GBP, the stake purchased can be estimated at 19 million GBP ($25.5 million). Out of…

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Russia: Evraz expanding sales markets

Evraz dispatched a batch of nodules produced at Kachkanarsk Mining and Processing Works to US Steel Kosice, the biggest steel mill in Slovakia. The nodules fully meet the customer’s requirements in chemical composition and physical properties. The content of iron in the nodules is above 60%; such high strength and solidity characteristics allow producing high…

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Ukraine: VostGOK to close uranium mine

Reserves of the Smolinskaya mine, a part of Vostochniy Mining and Processing Works, at the Vatutinskoye uranium deposit are below 1.4 thousand tons. The mine is expected to have finished operation at the deposits in 3-5 years. At present VostGOK operates at 4 uranium deposits: Vatutinskoye, Michurinskoye, Central and Novokonstaninovskoye. The first three have been…

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Ukraine: Mariupol Ilyich can’t use subsurface resources

The State Geology and Subsurface Service has cancelled 62 special allowances to use subsurface resources in Donetsk and Lugansk regions because of the absence of reports on mining in 2015-2016.

The list contains among others Mariupol Ilyich Iron and Steel Works, Makeevugol and Dokuchaevsk Flux-Dolomite Complex. (Ukrainian metal)

Kazakhstan: AksZF gas-purifying machines repairs finished

Aksu Ferroalloy Works has finished the repair of the No. 43 furnace gas-purifying machine.

It took the repairmen 15 days to replace 2688 filter sleeves and repair the main equipment.

In May and June AksZF will renovate two more gas-purifying complexes at furnaces No. 42 and 44. (Ukrainian metal)

Russia: Ufaleinickel replaces CEO

The office of the Ufaleinickel general manager has passed from Timofey Sasykov to Edward Karpenko, the ex-deputy director. The decision has been taken at the shareholders’ meeting. Since April 1 the company has stopped operating. The resumption of the work is only possible when the nickel prices revive. 1.7 thousand employees have already been dismissed.…

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Ukraine: Metinvest iron ore and coal mining down in Q1 2017

In January-March Metinvest decreased iron ore concentrate output by 16% YoY, to 6.68 million tons, coal concentrate – by 1%, to 792 thousand tons.

At the same time, if compared with Q4 2016, iron ore concentrate remained flat, while coal concentrate increased by 8%. (Ukrainian metal)

Russia: Seligdar profits in 2016

In 2016 Seligdar received 3.696 billion rubles of net profits as opposed to the net loss of 1.362 billion rubles in 2015. According to the company statement, its profits before taxation reached 4.632 billion rubles (1.672 billion of losses in 2015), and EBITDA – 5.046 billion rubles, up 1.4-fold. Seligdar increased earnings by 39.1% YoY,…

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