Russia: Kolyma gold potential up in 2016

In 2016 the Magadan region mining companies increased gold reserves by 12.9 tons, with 0.9 million tons being alluvial gold and 12 tons – ore gold.

Silver reserves increase totaled 37.8 tons.

In 2015 gold and silver reserves in the region increased by 12.3 and by 49.4 tons respectively. (Ukrainian metal)

Russia: Izhstal turns 257

Izhstal, a part of Mechel, is now 257 years old. The best employees received various awards and medals. “The works has a good history. Our task is to retain and multiply the labor traditions of Izhevsk metal makers and to continue the legacy began by our predecessors”, the company managing director Sergey Kozennov declared. (Ukrainian…

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Russia: Rusal acquires share in Skad

Rusal acquires a share of the foundry and mechanical production facility Skad, producer of aluminum alloy car wheels, located in Krasnoyarsk region. Under the terms of the transaction, Rusal will own a stake in the authorized capital of Skad, while its founder Idris Zakriev will remain the Chief Executive Officer of the production facility. Skad…

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Tajikistan: China mining company to invest $70 million in Pakrut Gold Project

China Nonferrous Gold Limited, the mineral exploration and mining company currently mining the Pakrut Gold Project in Tajikistan, intends to invest additional $70 million in the development of the deposit. According to the State Committee on Investment and State-owned Property Management of Tajikistan (GosKomInvest), an agreement on development of the Pakrut Gold Project in the…

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Ukraine: terrorists want access to Avdiivka Coke

The representatives of the so-called Donetsk People’s Republic, a terrorist organization supported by the Kremlin, demand access of their inspectors to Avdiivka Coke and Chemical Works on Ukraine-controlled territory because of the “ecological danger”. According to Denis Pushilin press-secretary Victoria Talakina, this was voiced during the Minsk meeting. She said, that during the military conflict…

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Ukraine: Metinvest to replace Russian raw materials with supplies from Canada and Australia

Metinvest, a Ukrainian steel and mining group, began diversifying raw material supplies in 2014 considering the risks for assets in uncontrolled areas of Donbas. “We considered various plans of action in case given risks were realized. We’ve been working on this since 2014. Therefore, even then we began to diversify our supplies of raw materials…

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Ukraine: EMSS to produce machinery for INGOK

Energomashspetsstal has concluded another agreement with Ingulets Mining and Processing Works. The companies have been cooperating for over 10 years, The new contract presupposes the delivery of 17 parts for mining equipment with the total weight of 420 tons. Gear rings, trunnions, nozzles, etc. will be delivered to the customer in July-September. Last month EMSS…

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Russia: Fitch affirms Metalloinvest rating with stable outlook

Metalloinvest has announced that Fitch Ratings (Fitch) confirmed the company’s long-term issuer default rating at ‘BB’ with a Stable outlook. In accordance with Fitch’s opinion reflected in the published release, Metalloinvest demonstrated financial resilience at times of volatile global pricing in iron ore and steel products and consistently reduced its absolute level of debt over…

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