Russia: Rusolovo to increase Solnechnaya factory capacity

In 2020 Rusolovo intends to complete the modernization of the Solnechnaya factory at the Festivalnoye deposit in Khabarovsk region.

Investments will reach 1.4 billion rubles.

After modernization the factory will be producing 1.2 thousand tons of tin concentrate per year. (Ukrainian metal)

Russia: Severstal-Balakovo finishes electric steel shop repair

Severstal – Bar Works Balakovo has finished scheduled capital repairs of the main and auxiliary machinery.

The cost of the repair exceeded 40 million rubles.

The repair covered machinery in the electric steel smelting shop. (Ukrainian metal)

Russia: OMK starts building pipe facility at Vyksa Works

Russia’s United Metallurgical Company (OMK) has launched construction of a 50-billion ruble seamless pipes facility at its subsidiary Vyksa Iron and Steel Works. “The goal of the project is to satisfy current and future demand in line and threaded seamless pipes, including pipelines for difficult production conditions and directional drilling by oil and gas companies…

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Ukraine: Makeevkoks elects supervisory board

Shareholders of Makeevkoks, situated on the Ukraine-uncontrolled territory, refreshed the supervisory board, by removing two of its members, as well as changing the auditor. The decisions were taken at the shareholders’ meeting on April 18. In particular, the shareholders have re-elected Igor Nadych and Olga Vinogorodskaya as members of the supervisory board for three years,…

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Ukraine: Lvivugol miner fatally injured

On April 21, a Stepnaya mine employee of the state enterprise Lvivugol has been mortally injured.

The locomotive driver was only 32 years old.

A special commission to investigate the accident has been created. (Ukrainian metal)

Russia: Korshunovsky GOK net profit up in Q1 2019

In January-March, Korshunovsky Mining and Processing Works received 1.227 billion rubles of net profit, up 5.7-fold YoY. Revenue grew 2.2-fold, to 3.675 billion rubles. The GOK fixed liabilities decreased from 352.6 million rubles to 337.8 million rubles, while short-term liabilities grew from 2.047 billion rubles to 2.053 billion rubles. Gross profit increased 18.5-fold, to 1.572…

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Ukraine: Kremenchuk Steel Works output down in Q1 2019

In January-March, Kremenchuk Steel Works produced 4292 tons of casting, down by 27.7% YoY.

Moreover, the plant is forced to fire over 500 employees in March-April.

This is done in order to bring the number of employees to the order volume and the debt to Ukrzaliznytsia. (Ukrainian metal)