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Severstal has completed the large-scale modernization of the rotary kiln No. 2 in the metal treatment shop No. 1 of Cherepovets Iron and Steel Works. The total cost of the project amounted to 230 million rubles. The kiln modernization will considerably improve the heating quality of the high-strength grade steel after it is rolled at…
DetailsThe Dneprovsky Iron and Steel Combine problems could result in it suspending operation. The company debt burden is 83 billion UAH. Such a debt was accumulated due to the Industrial Union of Donbass (ISD) shareholders using various grey schemes, as well as a number of strategic mistakes. In particular, ISD was not able to construct…
DetailsElectric energy expenses of industrial consumers have grown by 22%, and the full price has reached 1.93 UAH per kW-h. According to Interpipe, on July 1-2 the average electricity price was 1.58 UAH per kW-h, roughly on par with the June level. But now a tariff of Ukrenergo has to be added to this price,…
DetailsRussian aluminum giant UC RUSAL has set the final coupon guidance for 15-billion ruble 10-year exchange bonds at 8.6%, which corresponds to a yield of 8.78% to a 3.5-year buyback offer, a banking source reported. The initial coupon guidance amounted to 8.6-8.75%. The technical placement of the bonds is preliminarily scheduled for July 11. Otkritie…
DetailsSeverniy Mining and Processing Works is carrying out an energy efficiency program to install lighting in shops. Investments this year will amount to some 50 million UAH. At the first stage lamps will be replaced in 4 shops, ore-processing and crushing factories. The ore-processing factory No. 1 will see the largest replacement – 5800 lamps.…
DetailsKAZ Minerals and China Nonferrous Metal Industry’s Foreign Engineering and Construction Company Ltd (NFC) have finalized a deal to sell 19.4% in the Koksay copper project for $70 million. Koksay is a promising project to develop a copper quarry situated in 230 km from Almaty. The reserves of the deposit are 736 million tons of…
DetailsIndustrial-Metallurgical Holding has appointed Alexander Kukolev the CEO of its subsidiary – PMH-Ugol. He has replaced Andrei Sushentsev, who has been heading the company since 2018. Kukolev started working at the Berezovskaya Central Processing Factory in 1999. In August 2015 – February 2016 he has been the first deputy CEO at Koks-Mining LLC, before returning…
DetailsIn January-June the Dalpolymetal Central factory processed 486 thousand tons of ore, up by 0.4% from the target. In Q2, 255 thousand tons of ore were mined, up by 10 thousand tons QoQ and by 0.1% from the target. If the output level is maintained, the company could exceed the last year record, the highest…
DetailsBaimskaya ore field is one of the largest in the world in terms of copper-porphyry resources with 23 million tons of copper and 2 thousand tons of gold. It comprises 13 deposits. Baimsky Mining and Processing Works is to be constructed by 2026 and to reach its design capacity in 2028. The project is carried…
DetailsBazovye Metally will construct a mining and processing plant at the Kekura deposit in Chukotka. The project will be carried out in 2019-2027. The first gold-extracting factory will be commissioned in 2020, and the second in 2023. Investments will amount to 18.4 billion rubles. Klyon LLC will develop a gold and silver deposit of the…
DetailsIn January-June Rusal increased aluminum exports by 18% YoY, to 1.5 million tons. In June exports fell by 16.7%, to 243.87 thousand tons. Last year Rusal received $1.7 billion of net profit, up by 39% YoY. (Ukrainian metal)
DetailsPresident of Kazakhstan Kassym-Jomart Tokayev has met with the member of the board of directors of Polymetal Management Company Igor Finogenov. The latter reported on the company’s big projects realized in Kazakhstan and Russia. The Head of State congratulated Polymetal on its IPO on the AIFC stock exchange and noted the company’s results achieved in…
DetailsIn April Russia imported 15 tons of tungsten including scrap, down by 26% MoM, but up by 56.6% YoY. In 4 months imports grew by 57.9% YoY, to 46.3 tons. In monetary terms since the start of the year imports have increased by 26.9%. Import price in April went up by 34% MoM, to $73…
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