In 2018 Ukrainian Mining and Metallurgical Company decreased net income by 44.6% YoY, to 1.736 billion UAH. Last year the company received a net loss of 102.747 million UAH as opposed to 149.255 million UAH of net profit in 2017. The decrease in financial indexes is caused by a long-term decrease of rolled metal price…
DetailsSeverstal and the Luxembourg pipe manufacturer Tenaris have applied to the European Commission to approve a deal to create a joint venture. The new company will produce seamless pipes for the oil industry in the town of Surgut. The JV has been registered in Singapore. The share of Severstal will be 51%, and of Tenaris…
DetailsIn January-March, Kaz Minerals produced 70 thousand tons of copper, up by 4% YoY. This year the output is expected to total 300 thousand tons. Aktogay produced 36.7 thousand tons of copper, with 130-140 thousand tons to be produced this year. Sulfide copper manufacture grew by 6% QoQ, to 31 thousand tons, and by 47%…
DetailsA new long face No. 543 has been put into operation at the Mine named after Stashkov of the DTEK Dneprovskoye Mine Group. It is expected to provide the mine with 185 thousand tons of gas coal. The long face with the length of 182 meters will be in operation for 4 months. Since the…
DetailsDue to the increase of capacity, Almalyk Mining and Processing Works produced 12782 tons of raw copper in March, up from the target of 11760 tons. Average daily output was 460 tons, more than the target of 379 tons. Anode copper output target was set at 13493 tons, with 450 tons per day, but the…
DetailsIn 2018 Mariupol Ilyich Iron and Steel Works received 3.37 billion UAH of net profit as opposed to 828.06 million UAH of net losses in 2017. EBITDA reached 4.14 billion UAH (-966.21 million UAH in 2017). Net income grew by 39.7%, to 79.09 billion UAH. Undistributed profit in late 2018 totaled 3.72 billion UAH. Last…
Details“It is extremely important for exploration of new uranium objects in the region to be carried out only under the condition of maximum observance of environmental and technical safety,” Special Representative of the European Union for Central Asia, Peter Burian, declared. According to him, at the last donor conference on reclamation of uranium facilities in…
DetailsDonetsk region mining business continues increasing wages to its employees. As a result, some underground professions already exceed the average level of salary in Poland and the Czech Republic for Ukrainian workers. Average increase in wages reaches 15%. The growth will cover over 10 thousand employees of 8 companies-partners of Donetskstal, including the Pokrovskoye Mine…
DetailsIn 2018 the United Mining and Chemical Company received 114.9887 million UAH of net profit, down 3.9-fold YoY. EBITDA dropped by 60%, to 220.7 million UAH. At the same time the net income increased by 12.5%, to 3.213 billion UAH. Undistributed profit as of late 2018 totaled 115.087 million UAH. (Ukrainian metal)
DetailsRusal has placed 10-year bonds valued at 15 billion rubles. The interest rate is 9%. Initial volume of bonds was 10 billion rubles, but the demand allowed the company to increase it to 15 billion. This is the first issue of bonds by Rusal after the sanctions from it have been lifted. In January 2018,…
DetailsOn April 25, an explosion occurred at the Skhidcarbon mine in the so-called Lugansk People’s Republic, a terrorist organization created and supported by Russia. So far, bodies of three miners have been brought to the surface. The fate of 14 more is still unknown. The accident happened at the depth of 300 meters. (Ukrainian metal)
DetailsNovgorodsky Iron and Steel Works has renewed its special machinery fleet. In particular, the company has received a new Linde H20T-01 forklift truck with the lifting capacity of 2 tons. The cost of the new machine totaled 2 million rubles. The new truck will be used in the copper electrolysis shop. (Ukrainian metal)
DetailsSinarsky Pipe Works has commissioned two new electric bridge cranes. The cranes have been assembled in the pipe-rolling shop No. 2. The company intends to replace 10 cranes. (Ukrainian metal)
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