Yakovlevsky Mining and Processing Works has mined 10-millionth ton of iron ore. The enterprises management believes that in the medium-term it will be able to mine 10 million tons a year. In particular, the development strategy presupposes the increase in mining 5-fold, to 5 million tons per year in 2017-2023. 20 billion rubles will be…Details
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In April-June Beloretsk Iron and Steel Works increased sales QoQ. In particular, sales of welding wire used in the manufacture of electrodes, and steel shaped sections for car fasteners grew 2- and 1.7-fold respectively. The sales of rebar mesh and nails went up by 47% and by 35%. The company has also increased the sales…Details
In January-June throughput of Russian seaports grew by 2.8% YoY, to 409 million tons. Ferrous metals accounted for 14 million tons, down by 9.8%. In particular, Ust-Luga transshipped 46.2 thousand tons of ferrous metals, down by 52%. The Port of St. Petersburg decreased metal throughput by 18%, while Taganrog increased by 27%, to 56 thousand…Details
Russian steelmaker Novolipetsk Steel (NLMK) reduced its production of steel by 5% QoQ, to 3.992 million tons in April-June because of overhaul works at the blast furnace and basic oxygen furnace facilities, the company said in a statement on July 15. Loading fell to 96% from 98%, and consolidated sales shrank by 7%, to 5.268…Details
Last week, the price of one ounce of gold increased by 13.6595 manats or by 0.6%. Accordingly, the average price of one ounce of gold stood at 2,387.2233 manats. The price of one ounce of silver went up by 0.1804 manats or by 0.7%, to 25.707 manats. The price of one ounce of platinum grew…Details
Only 109 parliament members voted in favor of the decree No. 10307. The decree presupposed amendments to the state budget of Ukraine by increasing expenses on the state mines under the program to restructure the coal industry. The parliament members, who supported the decree, believed that without new country leadership Donbass state mines would have…Details
Since the start of the season, the Vitim team of miners, developing alluvial gold sites in Irkutsk region, has extracted 885 kg of the precious metal, down by 2.2% YoY. This year the company intends to obtain 2800 kg of gold. Thus, so far the output target has been 32% fulfilled. The washing season will…Details
Olkon has purchased a license to develop the Central site of the South-Kakhozerskoye deposit. The site is situated close to quarries already under development. The reserves of the site are some 6.8 million tons of ore. The work on the Central quarry will begin in 2020. Two dump trucks, an EKG-12 excavator and a drilling…Details
In May-June Maristyi LLC extracted 139.9 kg of alluvial gold in Amur region, down by 9% YoY. In the past three years the company has considerably increased output. Thus, in 2016 it extracted 411.3 kg of gold, in 2017 – 461.7 kg and in 2018 – 514 kg. The company does not disclose the amount…Details
Chelyabinsk Zinc Works has become one of the 5 finalists of the Industry-2019 award. The company developed the manufacture of indium of the highest purity (99.9999%). The technique to produce 600 kg of indium per year was developed and implemented in 2017. Since then the company has produced some 250 kg of indium. (Ukrainian metal)Details
Metinvest has transferred shares of the enterprises, remaining on the occupied territory, to a separate company. One of the plants is already being bankrupted. The shares have been transferred to Sitler Management Limited (Cyprus). The company is 100% owned by Metinvest B. V. The names of the enterprises, the shares of which were transferred, were…Details
NLMK Lipetsk has launched a recovery complex to capture and process chemical by-products from coke and chemical operations. The project will enable an increase in the production of raw materials for the chemical industry and for agribusiness, and halve the shop’s air emissions. Denis Manturov, Minister of Industry and Trade of the Russian Federation, and…Details
Prolonged delays in addressing the matter of Lydian Armenia’s operations is economically damaging not only to the company, but also to the country in general, said the Armenian British Business Chamber (ABBC) in a statement. “On July 9 at the National Assembly of the Republic of Armenia the ongoing issue of our member Lydian Armenia…Details