Ukraine: ferroalloy manufacture down in 2017

In 2017 the major Ukrainian ferroalloy manufacturers – Nikopol and Zaporozhye Ferroalloy Plants (NZF and ZZF) – produced 1.03 million tons, down by 0.11% YoY. According to the Ukrainian Association of Ferroalloys Manufacturers, silicomanganese production decreased by 0.5%, to 810.67 thousand tons, while that of ferromanganese grew by 9.6%, to 114.5 thousand tons. Ferrosilicon output…


Armenia: Nigeria interested in mining cooperation

The new ambassador of Nigeria to Armenia Ibrahim Khamzat said his country was interested in developing and deepening relations with Armenia, especially in economic sphere.

In particular, he noted interest in developing cooperation in the mining sphere.

According to the ambassador, Armenia has a considerable experience in this industry. (Ukrainian metal)

Russia: TMK pipe sales up in 2017

Russian oil and gas pipe producer TMK increased pipe sales by 10.6%, to 3.806 million tons in 2017, the company said in a statement. “The year was favorable for TMK, as the company raised sales by more than 10%. OCTG pipes were in especially high demand on our major markets, in Russia and in the…


Ukraine: CGOK invests 2.8 million UAH in quarry machines lighting modernization

The Central Mining and Processing Works has finished the project to modernize the mining machinery lighting system at the Gleevatsky, Petrovsky and Artemovsky quarries. Investments totaled 2.8 million UAH. Excavators and drilling mills have been equipped with 250 energy-saving LED-lamps. The equipment has been specifically prepared for the mining operations: they are impact-resistant, vibration-resistant and…


Ukraine: Fitch upgrades Ferrexpo to “B”

Fitch Ratings has upgraded Ukraine-based Ferrexpo Plc’s Long-Term Issuer Default Rating (IDR) to “B” from “B-”, reads a report on the rating agency’s website. “The outlook on the IDR is positive. In addition, Ferrexpo’s senior unsecured ratings have been upgraded to “B” from “B-”. The Recovery Rating is unchanged at “RR4”,” the report says. “The…


Russia: Polyus sets dividend minimum

Polyus, the largest gold-extracting company in Russia, has changed its dividend policy. The company Board of directors has approved the change of the dividend policy having set the minimum annual size of dividends for 2017 and 2018 on the level of $550 million. Thus, the amount of dividends for the corresponding period will total 30%…