Russia: Kuzbassrazrezugol to spend 1 billion rubles on the rolling stock

Krasnobrodskiy Coal Pit, a subsidiary of Kuzbassrazrezugol, has received two new TEM7A locomotives. The modernization of the rolling stock is provided for by the company railroad transport development program. Investments in the program in 2018-2019 exceed 1 billion rubles. The new locomotives will replace outdated OPE-1 models. As Kuzbassrazrezugol ships over 1.5 thousand railroad cars…

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Russia: nickel exports down in Q1 2019

In January-March, Russia exported 31.2 thousand tons of raw nickel valued at $378 million.

Compared with Q1 2018, this is down by 7.2% and by 15.2% respectively.

In March the average price of nickel was $13104 per ton FOB Russian border, down by 1.8% YoY. (Ukrainian metal)

Latvia: talks with investors on sale of KPV Liepājas metalurgs assets continue

Subsidiary of Privatization Agency of the Republic of Latvia SIA FeLM continues holding talks with investors on the sale of assets of insolvent metallurgical company KVV Liepājas metalurgs, says FeLM board chairman Jānis Rībens. “Talks continue with multiple investors. FeLM assesses offers from all investors, including offers regarding sale of separate assets. In accordance with…

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Russia: Metalloinvest net profit up in Q1 2019

In January-March, Metalloinvest net profit grew by 29.6% YoY, to $539 million.

EBITDA increased by 8.1%, to $730 million.

Revenue went up by 2.4%, to $1.856 million.

The company net debt totaled $3.336 billion, down by 0.7% since the beginning of the year.

Capital expenses dropped by 7.4%, to $88 million. (Ukrainian metal)

Kyrgyzstan: development of uranium banned

A ban was imposed on licensed areas provided for geological study and development of radioactive elements – uranium in Kyrgyzstan, the Information Support Department of the Government’s Office reported. The Prime Minister Mukhammedkaly Abylgaziev signed a decree prohibiting work on licensed areas provided for geological study and development of radioactive elements – uranium until a…

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