Kumtor gold mine took the 8th place out of 10 among the mines with the lowest costs for their maintenance in the first quarter of 2019. Mining Intelligence looked at costs at primary gold mines and ranked them based on average all-in sustaining costs (AISC). The AISC metric serves as a benchmark of a mine’s…Details
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Last week the price of one ounce of gold decreased by 19.89 manats or by 0.81%. Accordingly, the average price of one ounce of gold stood at 2,414.9877 manats. The price of one ounce of silver increased by 0.0871 manats or by 0.31%, to 27.8543 manats. The price of one ounce of platinum grew by…Details
Russian steelmaker Novolipetsk Steel (NLMK) is considering launching a $100-150-million plant producing grain-oriented electrical steel in India, a company spokesperson said in a statement. “The project is in progress. We are considering locating a part of the grain-oriented electrical steel business. Investment can amount to $100-150 million. The decision has not been made yet,” the…Details
In June Ukraine produced 1.659 million tons of steel, down by 3% YoY. Still, the 13th place among world steel manufacturers has been retained. China traditionally ranked first with 87.5 million tons, up by 10%. In January-June Ukraine produced 10.93 million tons of steel, up by 5.2%, which qualified for the 13th place as well.…Details
In May Russia imported 1.1 tons of tantalum, including scrap, up by 172.7% MoM, but down by 0.7% YoY. Deliveries from Kazakhstan grew 2-fold, to 774 kg, and from China – more than 5-fold, to 201 kg. In 5 months tantalum imports totaled 3.6 tons, down by 35% YoY. In monetary terms since the start…Details
Russian Copper Company, the initiator of the Tomino Mining and Processing Works construction in Chelyabisnk region, intends to discuss the project corrections with the local dwellers. On August 5 the company will present the results of the assessment of the GOK environment impact. One of the leaders of the StopGOK movement Vsailiy Moskovets claims that…Details
In January-June the net profit of VSMPO-Avisma increased by 47%, to 12.828 billion rubles. The increase is due to the drop of the dollar exchange rate by 9%. The company revenue grew by 10%, to 42.273 billion rubles. Sales did not change and totaled 15 thousand tons of titanium. (Ukrainian metal)Details
In April-June Rusal increased aluminum sales by 20.8% QoQ, to 1.082 million tons. The increase is due, among other things, to the sales of stocks accumulated during the sanctions. At the same time, the company experts believe the trade war between US and China has resulted in the drop in aluminum demand. Rusal fears the…Details
Metinvest has laid claims to Dneprovsky Iron and Steel Works. On July 5 the Commercial Court of the Dniepropetrovsk region initiated the bankruptcy procedure of DMK. Metinvest is one of the suppliers of raw materials to DMK. “We have for a long time tried to settle with ISD (Industrial Union of Donbass, owner of DMK)…Details
AzerGold, a company engaged in the extraction of precious metals in Azerbaijan, is expecting new decisions from startups to optimize processes in the mining industry and develop existing potential, as well as to improve human resource management and increase professional knowledge. The company is expecting proposals for nearly all areas of its activity, ranging from…Details
ChTPZ Group and Metalloinvest have held another meeting of the coordination council at UralSteel, where they discussed price, quality and sheet delivery issues. The sheet is used at Chelyabinsk Pipe Works to produce large-diameter pipes. UralSteel is one of the key suppliers of sheet steel to ChTPZ. Last year it shipped 270 thousand tons of…Details
In January-June Uralskaya Kuznitsa increased sales of railroad locomotive axles by 71% YoY. Sales of stainless steel heat-resistant and high-alloy stampings grew by more than 30%. The company is increasing sales of such stampings to power machinery and defense enterprises, including under state contracts. UralKuz revenue went up by 13%, and net profit – by…Details