Kurilgeo, the sole gold miner in Sakhalin region, plans to mine 1.6 tons of gold at its Urup island deposits. “In January-September we mined 1.2 tons of gold and 3.5 tons of silver, receiving 1.18 tons of gold and 3.42 tons of silver. Our plan is to receive 1.6 tons of gold this year”, a…
DetailsViktor Vekselberg and Leonard Blavatnik, for $700 million. Vekselberg earlier reported that his company wanted to increase the stake in RUSAL because it saw a high potential in the asset. According to one of the sources, the deal can be closed by the end of November. The money to pay for the stake will be…
DetailsAzovstal Iron and Steel Works has received the pilot tank with pulverized coal fuel. At the same time the PCI machine is being constructed there at the blast furnace No. 4. The Metinvest investments into the major project total $17 million. The fuel was delivered from the Mariupol Ilyich Iron and Steel Works in the…
DetailsOn behalf of the Military prosecutors of the South region the General prosecutor’s office has addressed the Ministry of economic development and trade asking it to punish Ukrainian Chemical Products (ex-Crimean Titan) by stopping its economical activities. The prosecutors said, that despite the ban to trade with Crimea, in 2015-2016 the company supplied raw materials…
DetailsOn October 26, the chairman of the Volyn regional state administration Vladimir Gunchik had a phone conversation with the minister of energy and coal industry Igor Nasalik on the Volynugol situation, Novovolynskaya mine No. 10 construction and salary debts to miners. The parties have reached the agreement that by the end of the week 100%…
DetailsMoscow has put a 100% stake of the Moscow Pipe Works valued at 1.58 billion rubles up for an auction. According to the auction documents, the company assets include 25 buildings with the floor square of 107.6 thousand square meters. Of them over 19 thousand square meters have been leased. The assets also include 10…
DetailsVolzhsky Pipe Works (a part of TMK) has put its continuous-casting machine No. 2 at the arc-furnace shop into operation after an overhaul. The halt of the machine didn’t affect steel smelting process, as it was carried out at other machines according to the plan. The arc-furnace shop of VTZ produces square (240×240, 300×300 and…
DetailsSeverstal has named the recent increase in coking coal prices unjustified and hopes for their decrease in the next 2 months, as the future steel profits will face higher coke expenses. According to the company, the main reasons for the coal price increase were the decrease in working hours at Chinese mines and the breaches…
DetailsIn January-September Russian Copper Company produced 132694 tons of copper cathodes, up from 103726 in January-September 2015. In particular, Kyshtym Copper-Electrolyte Works in August produced 7504.414 tons of copper cathodes in shop No. 1 and 3496.062 tons in shop No. 2 (11000.476 tons in total). This has led to the increase of the works targets…
DetailsRussian aluminum giant UC RUSAL has filed a suit to the International Center for Settlement of Investment Disputes (ICSID) demanding Ukraine to redeem the company’s investment in Zaporozhye Aluminum Complex, a RUSAL representative reported. “Affiliates of RUSAL have turned to the ICSID with a request to compensate for the investment in Zaporozhye Aluminum Works. The…
DetailsIn connection with being shifted to the tolling system, the Tajik Aluminum Company (TALCO) has been faced with unfavorable financial situation and the company is currently losing $100.00 from production of each ton of the tolling aluminum, says a report by the Ministry of Finance (MoF) on TALCO’s activities in 2010-2015 and the first half of…
DetailsIn September Zaporizhstal decreased gas consumption to 10 million cubic meters per month. According to the company statement, annual gas consumption was halved. In 2012 the works consumed 331 million cubic meters of natural gas, 236 million in 2013, 221 million in 2014 and 205 million cubic meters in 2015. This year Zaporizhstal gas consumption…
DetailsMetinvest intends to develop its sales network in Europe to be closer to European consumers. According to Metinvest Western Europe sales director Roberto Re, the group has four works in Europe: two in Italy, one in Bulgaria and one in UK, as well as a network of 13 offices. “Our companies in EU always stock…
DetailsThe minister of energy and coal industry Igor Nasalik plans to increase uranium mining by attracting private investments and foreign companies into the industry. This will make Ukraine more energy-independent. Westinghouse and some other companies are interested in mining Ukrainian uranium, according to the minister. At present Ukraine provides its NPPs with only 30-35% of…
DetailsFor the past 6 years electricity debts of Tajikistan Aluminum Company valued at 261.6 million somoni have been written off. Even though the company receives electricity at low tariffs. Because of the untimely payment for electricity in H1 TALCO’s debts reached 468.4 million somoni. The company consumes some 30% of Tajikistan-produced electricity every year. In…
DetailsIn January-September Russian raw nickel output dropped by 13.1% YoY.
According to the Federal Service of State Statistics, in September raw nickel output decreased by 31% YoY and by 18.1% MoM. (Ukrainian metal)
Ukraine should have a strong position in the issue of its own uranium mining. Taking into account the strong place of Russia in the industry and its friendship with Kazakhstan, all the matters of cooperation with Kazakh companies should be thought over. According to the Ministry of energy and coal industry strategic planning and European…
DetailsIn January-September Stoylensky Mining and Processing Works (a part of NLMK) produced 11.79 million tons of iron ore concentrate, up by 5.1% YoY. This was the result of high-pressure roll presses assembly in two sections of the factory. SGOK also produced 1.18 million tons of sinter ore. The works sold over 13 million tons of…
DetailsIn Q3 Severstal received $429 million of net profits, without non-monetary factors net profits totaled $449 million. In January-September Severstal’s net profits almost doubled to 1.3 billion rubles. EBITDA increased in Q3 by 11% QoQ, to $584 million. Revenues in Q3 dropped by 0.5% to $1.58 billion. In January-September revenues decreased by 14.7% YoY, to…
DetailsMoldova Iron and Steel Works has resumed steel smelting. According to the technical director Oleg Kucherenko, this month the company plans to produce 12 thousand tons of billets. “We have received enough scrap”, he added. The Tiraspol works has been idle since August. The MMZ management has signed an agreement with scrap suppliers and now…
DetailsSeverstal has increased purchases from small and medium-sized companies of Vologda region by over 1 billion rubles YoY. In January-September Severstal bought 8.7 billion rubles worth of goods and services, up by 17% YoY. “We’re actively cooperating with suppliers from Vologda region, who can provide good quality of equipment and materials on the level of…
DetailsIn January-September ferrous metals throughput in the Novorossiysk Sea Trade Port reached 10.03 million tons, up by 12.2% YoY.
Iron ore raw materials throughput increased by 40.2%, to 2.14 million tons. Non-ferrous metals throughput dropped by 4.8% YoY, to 0.81 million tons. (Ukrainian metal)
Russian tycoon Viktor Vekselberg expects that acquisition of a stake in aluminum giant UC RUSAL from Mikhail Prokhorov’s Onexim Group will be closed soon. At present, Sual Partners, controlled by Vekselberg and partners, holds 15.8% in RUSAL, while Onexim owns 17%, and businessman Oleg Deripaska’s En+ Group has 48.13%. “I hope it will be closed…
DetailsIn January-September Donetsk region (without the Antiterrorist operation zone) increased industrial output by 5.9% YoY. In September output decreased by 6.2% MoM and by 1.4% YoY. Metal wares production went up by 7.1%, coke – by 22.5% and mining – by 8.7%. In September coke output dropped by 1.7% MoM, metal wares – by 3.1%,…
DetailsIn October Makeevugol mined 97.9% of the plan. It still needs to mine 1080 tons this month.
According to the company statement, Kholodnaya Balka mined 117.5% of the plan, Kalinovskaya-Vostochnaya – 100.8%, named after Kirov – 100%, Yasinovatskaya-Glubokaya – 76.2%, Severnaya – 84.9%. (Ukrainian metal)
In January-September TALKO produced 103 thousand tons of aluminum, up by 3.1% YoY. In H1 primary aluminum output production increased by 13.5% YoY. Only some 5.4 thousand tons of Tajik aluminum has been processed locally this year. TALKO plans to decrease output this year from 158 thousand tons to 150 thousand tons because of the…
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