Mechel intends to mine 23 million tons of coal in 2018. “Coking coal concentrate output will be on the level of 10 million tons”, the company CEO Oleg Korzhov reported. Elginskoye deposits are expected to yield 4.5 million tons, Yakutugol – 8-8.5million tons. “We had to decrease Yakutugol output target for the next year, as…
DetailsThe State Service of Geology and Subsoil Use has prolonged the Vostochniy Mining and Processing Works licenses for subsoil use. “It took my numerous reminders and a miners march to Kiev for the geology commission to gather and prolong the license to mine uranium ore for VostGOK”, the ecology minister Ostap Semerak said. VostGOK is…
DetailsIn January-June Elgaugol LLC, a part of Mechel, mined 1.9 million tons of coal at the Elginskoye deposits in Yakutia, down by 4% YoY. In April Mechel reported that in 2017 Elgaugol output would increase by 21% YoY, to 4.5 million tons. As of June 30 the annual plan has been 42% fulfilled. Elgaugol has…
DetailsAccording to preliminary results, in July the USA imported 3.15 million tons of steel, down by 11.5% MoM, but up by 6.3% YoY. The main decrease was on behalf of semi-finished products – down by 300 thousand tons MoM. Brazilian companies decreased supplies, while Russian increased slab deliveries. All in all in July Russia supplied…
DetailsNovolipetsk Iron and Steel Works has chosen the supplier of equipment for the scheduled repair of the converter No. 1 in the converter shop No. 2. The Boiler Equipment Works (the city of Beloretsk) will produce and supply the gas outlet equipment for the cooling boiler. The repairs will start in H2 2018 and will…
DetailsThe Zaporozhye enterprises paid over 1 billion UAH to the city budget in January-July. The personal income tax amounted to more than half of all taxes – 654 million UAH, up by 357 million UAH YoY. The growth of the personal income tax was caused mostly by the salary increase at major companies. For example,…
DetailsIn January-June Rusal placed eurobonds valued at $600 million with the 5-year maturity rate and the interest of 5.125%, as well as panda-bonds for 1 billion yuan ($150 million) for 2+1 years with 5.5%. The group has also placed $500 million worth of eurobonds for 6 years with 5.3% interest. Rusal has signed a new…
DetailsIn January-June Rusal increased earnings by 22.3% YoY, to $4.674 billion, mostly because of the LME aluminum price increase and the company sales growth by 3.8%. Earnings in Q2 went up by 7.4% QoQ, to $2,467 billion. The share of the high added value products increased to 49.2% from 44.3%. Corrected EBITDA in Q2 grew…
DetailsIn January-July Chepets Mechanical Works received 1.134 billion rubles of net profits, up by 12% YoY, with earnings up by 3%, to 6.686 billion rubles. The works has signed a contract with Hermit GmbH for the delivery of titanium products to Europe. In 5 years the company will supply over 1 thousand tons of titanium…
DetailsIn July Russia shipped 9.2 million tons of iron ore, up by 2.2% YoY, with 63.8 million tons shipped in 7 months, down by 0.2% YoY. Local sales increased by 2%, while exports dropped by 2%. Ukraine and Hungary stopped importing iron ore altogether, while Slovakia, Finland and Germany decreased imports by 70%, 2-fold and…
DetailsNorilsk Nickel, one of the largest refined nickel and palladium producer in the world, reports that on August 24 its Board of Directors considered to call an Extraordinary General Meeting of shareholders (EGM) on September 29 and set the EGM record date (the list of shareholders eligible to vote) on September 5. The Board of…
DetailsGold production in the Chukotka Autonomous District is to decrease by 3 tons in 2017 due to reserve depletion on some of the deposits, head of the region Roman Kopin reported on August 24. “The amount expected in 2017 is 26 tons,” Kopin said. Chukotka Mining and Geological Company and Severnoye Zoloto, units of Kinross…
DetailsThe net loss of Russian gold producer Lenzoloto tripled to 1.072 billion rubles in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on August 24. The pre-tax loss also tripled to 1.091 billion rubles, income from sales fell by 17.5%, to 2.396 billion rubles, including income from gold…
DetailsThe Russian Railroads decided to change the level of the railroad tariff for export transportation of aluminum and aluminum wire rod. The new decreased tariff will be 0.867 from the current. The new tariff will be used when transporting aluminum and wire rod in a combined volume of not less than 3.466 million tons in…
DetailsA separate shop to produce copper wire rod was created at Kyshtym Electrolytic Copper Plant in 2007. With the new Southwire continuous casting technology the works increased wire rod output from 10 thousand tons to 100 thousand tons per year. Now the company has begun another modernization project. It plans to install a new casting…
DetailsCherepovets Iron and Steel Works has started commissioning the polymer coating mill in the metal coating shop No. 3 being constructed. The first trial coil has already been produced. The new complex will be put into operation in September. The metal coating shop No. 3 will include the continuous dip-galvanizing machine with the capacity of…
DetailsEVRAZ NTMK has for the first time shipped a lot of 240 BA220 passenger railway wheels to Deutsche Bahn, the largest German operator. BA220 railway wheels are a new product for the works. The wheels are manufactured of ER7 steel grade and demonstrate rim hardness of 235 HB and above; wheel diameter is 920 mm.…
DetailsIn July Ukraine produced 1.81 million tons of steel, down by 12.9% YoY. Still, despite the decrease, Ukraine was able to outmaneuver Iran and Mexico and reach the 12th position in the world rating. In January-July the world produced 977.371 million tons of steel, up by 4.6% YoY. China still holds the 1st position with…
DetailsIn July Ukraine, not counting the temporarily occupied territories of Crimea, Sevastopol and the ATO zone, produced 975 thousand tons of steel (without continuous cast semi-finished products), up by 7.8% YoY and by 16.5% MoM. According to the State Statistics Service, steel output in January-July decreased by 7.3% YoY, to 6175 thousand tons. Pig iron…
DetailsThe decision to build a rotary-kiln complex at Chelyabinsk Zinc Works was taken in 2012 under the program to increase capacity. In January 2017 the complex was put into operation. The project capacity of the complex is 296 tons of zinc-containing charge per day. The sixth rotary-kiln in addition to increasing zinc output allowed increasing…
DetailsIn H1 Kamensk-Uralsky Foundry Works received 74 million rubles of net profits, up by 20 million rubles YoY. The funds earned will be invested in the reconstruction of the friction plates manufacture under the Federal target program. “The Federal target program is a very serious part of our manufacturing process. It will allow Russian special…
DetailsIn January-May Russia increased gold output by 2.5% YoY, to 88.92 tons, including 68.96 tons of extracted gold, 7.29 tons of by-product gold and 12.66 tons of secondary gold. Silver output in 5 months decreased by 4.7% YoY, to 380.59 tons, including 170.36 tons of extracted silver, 134.83 tons of by-product silver and 75.4 tons…
DetailsIn January-June Magnitogorsk Iron and Steel Works invested 1.64 billion rubles into reconstruction and construction of environment protection facilities. In particular in the sinter shop MMK has reconstructed a sulfur recovery unit No. 2. An extraction system for foundries of blast furnace No. 10 with the capacity of 800 thousand cubic meters per hour has…
Details