According to forecasts, the budget of Kyrgyzstan will get 2 billion soms from holding of tenders for sale of licenses for fields, the Deputy Chairman of the State Committee for Industry, Energy and Subsoil Use Myrza Zhamanbaev declared. Placement of objects for tenders is delayed due to the new law on mineral resources. The State…Details
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Over the week, the price of one ounce of gold increased by 34.5525 manats or by 1.5%. Accordingly, the average price of one ounce of gold stood at 2,248.8535 manats. The price of one ounce of silver went up by 0.4069 manats or by 1.6%, to 25.0874 manats. The price of one ounce of platinum…Details
Lydian International President and CEO Joao Carrelo is stepping down, the company said in a news release. It said Carrelo was leaving the position effective from June 12 “as part of the company’s restructuring program”. Lydian also announced that the board of directors had appointed Edward Sellers, a current member of the board of directors,…Details
Baikal Mining Company and Outotec have signed an agreement on the delivery of the machinery valued at 250 million euro to Udokan Mining and Processing Works. The company will supply machinery for floatation processing of ores with the volume ranging from 20 to 300 cubic meters. The usage of module extraction units will reduce construction…Details
Metalloinvest, a leading global producer and supplier of HBI and iron ore products, and a regional producer of high-quality steel, has signed a binding agreement with the company Ultramar for the construction of a specialized terminal for the transfer of iron ore pellets and HBI at the Ust-Luga port, located in the Leningrad region. The…Details
Severstal organizational structure has been reconfigured to support its updated strategy and ensure it consistently delivers an excellent customer experience. Based on agile business principles, all of the company’s production and “selling” divisions now fall under two streams – upstream and downstream, for which common business goals are set. Upstream includes all of Severstal’s raw…Details
RUSAL will plant 500 thousand trees in the Irkutsk region, as part of the company’s climate strategy on greenhouse gas absorption. During the St. Petersburg Economic Forum, RUSAL, the Federal Forestry Agency and the Government of the Irkutsk region signed an agreement to implement voluntary eco-friendly projects, which include planting at least 500 thousand trees…Details
At the Extraordinary General Shareholders’ Meeting (EGM) held on June 7, NLMK shareholders approved the payment of Q1 dividends of 7.34 rubles per share, or 100% of the company’s free cash flow according to NLMK Group’s consolidated statements prepared in accordance with IFRS. The date upon which the shareholders entitled to Q1 dividends will be…Details
At public hearings, ArcelorMittal Kriviy Rih presented the report on assessment of environmental impact for the project on reconstruction of secondary and fine crushing building at production area No. 2 of Crushing Plant (CP). Area No. 2 of Crushing Plant is used for receiving and processing of ore extracted from open pit No. 2-bis (area…Details
In January-May, Ukraine exported $4.068 billion worth of ferrous metals, down by 8.3% YoY. According to the State Fiscal Service, ferrous metals accounted for 19.47% of all export revenue as opposed to 22.81% last year. In May ferrous metals export revenue was $888.2 million. In 5 months Ukraine decreased ferrous metals imports by 5.5%, to…Details
In 2018 Aksay Iron and Steel Company manufactured 13 thousand tons of products, including 5 thousand tons of aluminum alloys of 12 grades and more than 7.5 tons of copper. The company has been cooperating with the Baltika Brewery, a part of Carlsberg Group. In January-October 2018, the brewery shipped 45 thousand tons of waste…Details
Krasniy Octyabr Iron and Steel Works has commissioned its steel-smelting furnace No. 5 with the volume of 200 tons. The furnace in the electric arc shop No. 2 was shut down in May 2018 for repair, when the roof over it was disassembled in order to install dry gas-purification equipment. This was the first repair…Details
In May, Severstal Distribution sold 109 thousand tons of metal in Russia. On average since the start of the year the company has been selling 82 thousand tons of metal per month. The previous record of 95 thousand tons was set in August 2018. The record-high volume of sales has been reached as the result…Details