Russian Platinum and Norilsk Nickel have submitted documents on creating a joint venture to the Federal Antimonopoly Service. The JV will be organized to create on Taimyr one of the largest platinum manufacturers in the world. Combined investments will total some $5 billion. The deal could be concluded in mid-2020. The JV will comprise Maslovskoye,…Details
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In September Ukraine exported 3.2 million tons of iron ore and concentrate, down by 1.8% MoM, valued at $400 million, down by 2.4%. According to the State Tax Service, in January-September exports totaled 30.4 million tons valued at $2.8 billion. Exports in August grew by 4% MoM, to $409.9 million, or 3.9 million tons, up…Details
In September Electrostal produced 1 thousand tons of billets and once again shut down its manufacture because of the unfavorable market situation. In January-September output decreased 3.3-fold YoY, to 73 thousand tons. From January till mid-March the company was idle, but after it resumed operation it worked only at one third of its capacity, In…Details
Russian steelmaker Novolipetsk Steel (NLMK) and Belgian fund Sogepa plan to invest 100 million euros each in the development of NLMK Belgium Holdings (NBH), in which they own a 49% stake each, between 2019 and 2021, NLMK said in a statement on October 10. “Funds allocated to NBH will go towards the execution of Strategy…Details
In January-September Ukraine increased iron ore raw materials exports by 10.4% YoY, to 30.372 million tons valued at $2.774 billion, up by 32%. According to the State Fiscal Service, the main customers were China (32.44%), Poland (12.22%) and the Czech Republic (9.81%). In 9 months Ukraine imported 6.052 thousand tons of iron ore raw materials…Details
Novocherkassk Electrode Works, a part of EPM, has finished constructing a RiedHammer circular furnace in the pelletizing shop. The construction began last autumn. At present the furnace is being dried. The process will last till early November. Over 150 people were engaged in the construction. 400 trucks with materials (refractory bricks, as well as cement…Details
In January-September Ukraine decreased coal imports by 4.4% YoY, to 14.951 million tons valued at $2.089 billion, down by 4.7%. According to the State Fiscal Service, Russia supplied $1.217 billion worth of coal (58.27%), USA – $667.294 million (31.94%), Kazakhstan – $94.992 million (4.55%) and other countries – $109.626 million (5.25%). At the same time,…Details
Metalloinvest is expected to invest 64 billion rubles in the construction and modernization of its mining and processing works’ manufacturing capacities until the end of 2024. Construction of a crushing and conveyer complex is underway at the Mikhailovsky GOK, and the second stage of the project has already begun (the construction of new concentrate enrichment…Details
“We propose to create a working group by a government’s decision that will hold negotiations on Jerooy,” Duishonbek Kamchybekov, Deputy Chairman of the Association of Miners, said at a press conference. According to him, Jerooy is the second deposit after Kumtor in terms of proved gold reserves. In addition to what the company has paid…Details
The government has postponed from January 1 to April 1, 2020 the implementation of the scrap exports only via stock exchanges. At the same time the quota on the export of metals will expire on December 31 and will not be prolonged. The officials believe the exchange trade will improve transparency of the scrap market.…Details
In January-August Russia exported 28.057 million tons of ferrous metals, down by 9% YoY. The export of ferrous metals, not counting pig iron, ferroalloys, wastes and scrap, totaled 18.239 million tons, down by 10.4% YoY. Sales of carbon steel semi-finished products decreased by 8.4%, to 9.775 million tons, and flat carbon steel – by 14.2%,…Details
ArcelorMittal Kriviy Rih has started commissioning the turboblower No. 15. Investments in the project totaled 200 million UAH. The turboblowers provide the largest blast furnace No. 9 (manufactures 50% of the company pig iron) with cold air. The blast furnace complex modernization is scheduled for 2021. As a result, pig iron output will increase to…Details
Zaporozhkoks and the Tax Service are trying to amicably settle the issue of tax fines. On August 28 Zaporozhye district administrative court opened a case, as Zaporozhkoks asked to cancel a number of Tax Service decisions. In particular, the Tax Service demands the increase of VAT tax payments by 247.1 million UAH, including 82.4 million…Details