In 2018 Metinvest was placed 42nd in the rating of the largest steel producers, published by World Steel Association. Last year the group produced 9.37 million tons of steel, down from 9.59 million tons in 2017. In 2017 Metinvest was also placed 42nd. But before it lost its assets in Eastern Ukraine, seized by Russia-controlled…Details
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PJSC Magnitogorsk Iron and Steel Works (MMK) announced that on May 31 the Annual General Meeting of Shareholders was held in Magnitogorsk. The AGM approved the annual report and accounts for 2018 and the payment of dividends. Based on the results of Q4 2018, dividends will be paid in the amount of 1.398 rubles (before…Details
Subsidiary of Privatization Agency of the Republic of Latvia SIA FeLM continues holding talks with investors on the sale of assets of insolvent metallurgical company KVV Liepājas metalurgs, says FeLM board chairman Jānis Rībens. “Talks continue with multiple investors. FeLM assesses offers from all investors, including offers regarding sale of separate assets. In accordance with…Details
Irshansk Mining and Processing Works has concluded an agreement with Mezhirechenskiy Mining and Processing Works on the delivery of ilmenite valued at 47.33 million UAH. This year the MGOK will have to supply 20,580 thousand tons of raw concentrate at $87 or 2300 UAH per ton. Last year IrGOK ordered ilmenite concentrate from MGOK at…Details
Prices of precious metals increased in Azerbaijan on June 3 compared to the prices on May 31. The price of gold grew by 33.8385 manats, to 2,231.3775 manats per ounce. The price of silver went up by 0.1982 manats, to 24.8961 manats per ounce. The price of platinum increased by 12.325 manats, to 1,362.635 manats…Details
ZEMZ has repaired the furnace No. 2, an important part of the mill-1150 in the rolling shop No. 1. The furnace heats billets with the weight of up to 3.6 tons for the consequent rolling at the mill. The furnace is fueled with natural gas. Its output is 150 tons per day. As a result…Details
Otradnoye LLC has won a right to develop a gold site in the Republic of Sakha (Yakutia). The price of the site on the Rodinka Brook totaled 17.105 million rubles. The deposit balance reserves are estimated at 82 kg of gold for open-pit extraction and 645 kg for underground mining. KTK LLC won the auction…Details
In January-March, Metalloinvest net profit grew by 29.6% YoY, to $539 million. EBITDA increased by 8.1%, to $730 million. Revenue went up by 2.4%, to $1.856 million. The company net debt totaled $3.336 billion, down by 0.7% since the beginning of the year. Capital expenses dropped by 7.4%, to $88 million. (Ukrainian metal)Details
Severstal has concluded and agreement for the modernization of the turbo-generator No. 7 of the Cherepovets Iron and Steel Works steam-air-thermal power plant. The cost of the investment project is 600 million rubles. The modernized turbo-generator is expected to be commissioned in late 2020 This is the second modernization of the company turbine power park;…Details
A ban was imposed on licensed areas provided for geological study and development of radioactive elements – uranium in Kyrgyzstan, the Information Support Department of the Government’s Office reported. The Prime Minister Mukhammedkaly Abylgaziev signed a decree prohibiting work on licensed areas provided for geological study and development of radioactive elements – uranium until a…Details
The Gross mine has completed its large-scale mining transport program. Now the mine is fully equipped with over 100 units of large mining machinery. Last year $44 million were spent to buy 30 units of machinery, including 14 Caterpillar dump trucks with the lifting capacity of 135 tons each. Gross mine also operates 3 Caterpillar…Details
Hort-V LLC (Moscow), which owns a license to develop the Ukonikskoye deposit in Zabaikalye region, intends to start extracting gold in 2023. Annual ore output will reach 800 thousand tons. The company plans to construct a gold-extraction factory with the design capacity of 2 tons per year in the first phase. Later the capacity will…Details
Solntsevsky coal pit has put into operation a new Uralmashzavod EKG-20 excavator. This is the first Russian machine in the Eastern Mining Company fleet. The excavator was made to order and delivered in December 2018. The ladle of the machine has an increased volume of 22 cubic meters as opposed to 20 cubic meters in…Details
Fincraft Resources of the main Petropavlovsk shareholder Kenes Rakishev will invest $200-300 million in the development of mines at the Gornostayevskoye, one of the largest cobalt and nickel deposits in Kazakhstan. The cluster will start operating in 3 years, with metal to be exported to South Korea, China and Russia. The deposit reserves are estimated…Details
From September, ArcelorMittal Poland will shut down its sinter factory, blast furnace and converter shops at the Krakow plant. The shut down will last for months or even quarters. At the same time the company will not fire 1.2 thousand employees. They will be transferred to rolling shops, other ArcelorMittal enterprises, or to subcontracting companies.…Details
Russian steelmaker Novolipetsk Steel (NLMK) plans to reduce steel production to about 16 million tons in 2019 from 17.493 million tons in 2018, President Grigory Fedorishin announced. “The amount of steel production will fall at the Lipetsk facility because a big blast furnace and a big converter will shut down for repairs. We intentionally united…Details
Over the week, the price of one ounce of gold has increased by 9.996 manats or by 0.4%. The average price of one ounce of gold stood at 2,184.0209 manats. The price of one ounce of silver decreased by 0.1599 manats or by 0.6%, to 24.6227 manats. The price of one ounce of platinum went…Details