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Uzbekistan: coal prices to be optimized

While discussing the coal industry development, the President of Uzbekistan ordered the Ministry of Finances and Energy to optimize coal prices in order to improve the industry profitability and cover investment expenses. Even with the high potential of the coal deposits, the plans to mine coal have not been met lately. The technical and technological…

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Russia: NLMK stops exporting slabs to US

Novolipetsk Iron and Steel Works is suspending sending steel slabs to its rolling works in Pennsylvania. According to the group president Oleg Bagrin, this has to do with the company failing to get its semi-finished products out of American steel import duties of 25%. More over, NLMK USA is suspending its investment program of $300-400,…

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Kyrgyzstan: Kumtor should not be stopped

The operation of Kumtor should not be stopped, mining engineer Orozbek Duisheev declared. According to him, mining industry is in critical condition. “It is necessary to change the laws, there must be independent management in order to bring the industry out of crisis. First of all, Kumtor should not be stopped, it must continue working,”…

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Kyrgyzstan: tax burden on mining industry low

Tax increase will not hinder development of the mining industry in Kyrgyzstan, mining engineer Duishenbek Kamchybekov declared. According to him, after a meeting of the Security Council, where work of deposits was discussed, the International Business Council spoke against the decision. “The International Business Council said that tax issues were burdensome for us. The tax…

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