According to the results for the first half of 2019, the implementation of programs aimed at improving production efficiency at the Magnitogorsk Iron and Steel Works (MMK) has had an economic impact in excess of $38.3 million. As part of the strategic initiatives adopted in 2015 aimed at improving operational and functional efficiency, the MMK…Details
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The net loss of IRC Ltd, the iron ore division of Petropavlovsk Plc, which runs gold deposits in Russia, widened by 60% YoY, to $25.224 million, the company said in a statement. The loss adjusted for one-time expenditures and the exchange rate-related loss stood at $8.219 million. Revenue grew by 27%, to $89.244 million, and…Details
In January-July Ukraine extracted 17.87 million tons of coal, down by 6.6% YoY. According to the Ministry of energy and coal industry, coking coal output dropped by 8.9%, to 3.299 million tons, and power-generating coal – by 6.1%, to 14.57 million tons. In July coal output decreased by 4.4%, to 2.529 million tons. Enterprises subordinate…Details
“Settlement of issues related to the Kumtor project may encourage foreign investors to provide additional resources for development of the mine,” Aigul Berdigulova, Analyst at the Economic Analysis Department of the Eurasian Development Bank, declared. According to her, entry into force of a strategic agreement between the Government of Kyrgyzstan and Centerra Gold brings certainty…Details
In June Russia exported 3.3 thousand tons of copper wire rod, down by 80% MoM and by 43.5% YoY. Deliveries to Kuwait dropped by 95%, to 439 tons, to Egypt – by 97%, to 60 tons, but to Belarus grew by 5%, to a third of the total volume. In 6 months copper wire rod…Details
In June Russia imported 4.1 thousand tons of zinc, up by 11.7% MoM and by 236.5% YoY. Deliveries from Kazakhstan grew by a third, to 3 thousand tons, and from Uzbekistan – by 7.4%, to 15%. In 6 months imports totaled 26.6 thousand tons, up by 286.4% YoY. In monetary terms since the start of…Details
In June Russia exported 19.2 thousand tons of nickel matte, up by 54% MoM and by 163.5% YoY. Exports to Finland grew by 33%, to 16.6 thousand tons. In 6 months nickel matte exports totaled 68 thousand tons, up by 58.2% YoY. In monetary terms since the start of the year exports have increased by…Details
The miners team Vitim, developing the alluvial sites in Irkutsk region, since the start of the season has extracted 1263 kg of gold, down by 5% YoY. Last year as of August 1 the company extracted 1332 kg of gold. According to the output plan this year the company has to yield 2800 kg of…Details
Under a new agreement Omsk Metal Structures Works (OmZM-Metal) will supply more than 1500 tons of metal structures for the construction of the Amur Gas-Processing Plant. Earlier the company has produced and supplied more than 4500 tons of metal structures with corruption-resistant coating to the construction site. The construction is carried out in partnership with…Details
Mechel has concluded a contract with Steel Mont on the delivery of coke and coal. Until the end of 2020 Mechel has to supply 700 thousand tons of products to Steel Mont: 350 thousand tons of coke produced at the Moscow Coke-Gas Plant and 350 thousand tons of PCI coal and anthracite produced at Yuzhniy…Details
UMMC has started developing one of the largest copper deposits in Russia – Podolskoye, which will cover some 20% of the group raw materials base. The deposit is situated in Bashkortostan and was discovered in 1971. The reserves of copper, copper-zinc and pyrite ores amount to 88.6 million tons. In addition to copper, there is…Details
Southwestern China’s Kunming Intermediate People’s court will auction all of the 28,336 tonnes of ammonium paratunsgate (APT) held by the collapsed Fanya Metal Exchange in mid September, according to an official notice seen by Fastmarkets on Friday August 30. The volume of APT ingots is equivalent to about three months of Chinese output and will…Details
According to statistics, metal workers in April-June earned more than in the industry as a whole. Thus, over 36% of employees received 15 thousand UAH, while the average level in the industry was 22.1%. At the same time a large number of metal workers receive less than 8 thousand UAH (28.6%) and 8-10 thousand UAH…Details