Gazprombank has signed an agreement to sell a 49% stake in the Elginskoye project to company A-Property, the bank said in a statement on March 23. “Gazprombank has signed an agreement to sell a 49% stake in the Elginskoye project to company A-Property. The bank has always considered the Elginskoye to be an investment asset,…
DetailsA high-alert mode has been introduced on the territory of MMK Group enterprises, and special headquarters have been established under the leadership of the company CEO. The group is taking active measures to prevent the spread and reduce the risk of the coronavirus infection. During the current adverse conditions, the company has suspended foreign business…
DetailsLast week, the price of one ounce of gold decreased by 223.9 manats ($131.7) or by 8%. The average price of one ounce of gold stood at 2,556 manats ($1,503). The price of one ounce of silver dropped by 6.3161 manats ($3.7) or by 22%, to 21.8914 manats ($12.8). The price of one ounce of…
DetailsIn February, Izhstal produced almost 28 thousand tons of steel, up by 17% YoY and by 26% MoM. Sales grew by 7%. Izhstal products were shipped to machine-building, aviation, oil and mining companies, as well as manufacturers of special machines. (Ukrainian metal)
DetailsIn January-February, Magadan region extracted 4.38 tons of gold, down by 4.3% YoY. Only ore gold is extracted at present. Alluvial season will start in April-May. Silver output grew by 0.5%, to 100.3 tons. This year the region intends to extract 595 tons of silver and 46 tons of gold, including 26.41 tons of ore…
DetailsThe rating agency Expert RA has confirmed the Severstal credit worthiness rating at the level of ruAAA with Stable Outlook. According to the agency, the group is maintaining one of the highest levels of profitability among global metal companies. In 2019 its EBITDA margin was 34.4%, down from 36.6% in 2018. The group debt grew…
DetailsMetalloinvest, Kursk region and the city of Zheleznogorsk authorities have signed a program of social and economic partnership for 2020. Parties will invest 1.5 billion rubles under the program, with 827 million rubles to come from Metalloinvest. In 2019, Mikhailovsky Mining and Processing Works, a part of Metalloinvest, paid 13 billion rubles to the regional…
DetailsMetals company Norilsk Nickel has received a proposal from Russian Platinum to discontinue talks on establishment of joint venture Arctic Palladium in the absence of required corporate permits for the JV from Norilsk’s shareholder RUSAL, Norilsk Nickel said in a statement. “The company’s management has commenced reshaping its partnership with Russian Platinum considering means to…
DetailsManagement of ArcelorMittal Kriviy Rih has decided that the company will continue to fulfill its obligations and pay the land and property taxes due in March, despite the amendments to Tax Code approved by the State last week. The company does not plan to stop fulfilling its obligations for land and property tax as these…
DetailsIn January-February, Yuzhniy Mining and Processing Works decreased iron ore concentrate manufacture by 8.1% YoY, to 1.917 million tons. The enterprise did not produce sinter. Concentrate output in February totaled 930 thousand tons. In 2019, UGOK produced 12.3 million tons of concentrate, up by 0.1% YoY, and 945.8 thousand tons of sinter, down by 45.8%.…
DetailsIn 2019, Electrostal Iron and Steel Works received 176.34 million rubles of net profit. In Q4 2019, the company received 14 million rubles of net profit, down from 58 million rubles in Q3 2019. In 2018, Electrostal saw a net loss of 558 million rubles. Revenue last year grew by 2% YoY, to 14.06 billion…
DetailsIn December 2019, Russia exported 208 tons of rolled copper, up by 9% MoM, but down by 24% YoY. Price grew from $7 to $7.4 per kg. Deliveries to Belarus increased from 107 tons to 117 tons, and to Kazakhstan – from 16.7 to 29 tons. At the same time Ukraine decreased purchases by 20%,…
DetailsIn January, Russia imported 109.7 thousand tons of manganese ore and concentrate, up by 26% MoM and by 63% YoY. Price was $200 per ton. Deliveries from South Africa dropped by 14%, to 63.6 thousand tons, but from Ghana grew 5-fold, to 39.5 thousand tons, and from Kazakhstan – from 4.7 thousand tons to 6…
DetailsIn 2019, Irkutsk Aluminum Works manufactured 421,967 tons of goods, up by 2.4 thousand tons from the plan. Value-added products accounted for 68% of the output. Wire rod manufacture totaled 150.9 thousand tons. It is mainly supplied to the cable plants. Alloys output was on the level of 125 thousand tons. IrkAZ produces ingots of…
Details6.9 thousand tons of sheet pile Larsen produced at Evraz NTMK have been used in the construction of large infrastructure objects in the Russian North. Metal was delivered by Evraz Metal Inprom. In particular, 1.8 thousand tons were used in the construction of the Center for large-tonnage sea structures in Murmansk region. 2.5 thousand tons…
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