Arbitration decision on claim of Stans Energy Corp. must be confirmed in the jurisdictions of the respective countries, center for Judicial Representation of the Government of the Kyrgyz Republic reported. According to the center, the decision does not mean that the Kyrgyz side will automatically pay the arbitration amount. It must still be confirmed in…Details
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The Armenian National Congress (HAK), an extra-parliamentary political party led by the first President of Armenia Levon Ter-Petrosyan, will convene a special session of its board regarding the Amulsar gold mine. HAK Vice-President Aram Manukyan said at a press conference they were convening the meeting to decide their stance over the matter. “We are studying…Details
On August 21 Ukrzaliznytsia (Ukrainian Railways) sold six batches of scrap valued at 34.6 million UAH. The scrap was sold at the Prozorro Sale auctions. Energosteel purchased 2.6 thousand tons of scrap for 15.4 million UAH. Dneprostal bought 1.6 thousand tons of axle scrap for 9.2 million UAH, as well as 0.155 thousand tons of…Details
Evraz ZSMK has mastered the manufacture of continuous cast billet with the sizes of 130×130 mm. In order to be able to produce such billets, additional equipment was assembled at the continuous casting machine. The company also produces 150×150 and 150×200 mm billets. The new product will be exported to the South-Eastern Asia, South and…Details
Zangezur Copper-Molybdenum Works retained the leader position in the list of the major taxpayers having paid 29.5 billion drams in January-June, including 837.1 million drums of customs duties, 17 billion drams of direct taxes (income and profit tax), as well as 839.7 million drams of other taxes (VAT, excise tax, etc.). The 5 major taxpayers…Details
President Shavkat Mirzieyev has reviewed the construction project of a metal plant on the basis of the Tebinbulak deposit in Karakapakstan. The reserves of the deposit are estimated at 1.1 billion tons. It is planned to mine 33 million tons of ore there and produce 1.5 million tons of iron per year. The capacity of…Details
In January-June the net profit of Rusal totaled $625 million, not $558 million as reported previously. The company has recalculated the H1 financial figures. Thus, profit decreased by 34% YoY. In Q2 net profit totaled $352 million, not $285 million, up by 28.9% QoQ. (Ukrainian metal)Details
The Mine named after Tikhov has shipped the first train of coal via the new railroad. Investments in the infrastructure creation totaled some 1 billion rubles. In particular, Proektnaya station and the Tikhov station have been built, as well as 8.8 km of railroad. With the new infrastructure the mine will be able to annually…Details
In June Russia imported 48.5 thousand tons of flat galvanized rolled metal, down by 35% MoM and by 32% YoY. In 6 months imports totaled 339 thousand tons, down by 0.4% YoY. China supplied 31% of metal, up 2-fold. Average price on the Russian border was $717 per ton without VAT. It is followed by…Details
In June Russia imported 40 thousand tons of galvanized metal with polymer coating, up by 17.9% MoM, but down by 17.2% YoY. According to the customs statistics, in 6 months imports totaled 182.7 thousand tons, up by 1.5% YoY. China supplied the most products – 43%, up by 9.5%. Average price on the Russian border…Details
Being one of the leading sectors in the economy of Azerbaijan, mining industry holds the largest share in the industrial production. Enjoying an increase in the production of precious metals, such as gold and silver, Azerbaijan also sees growth in the mining products exports. The country exported 2,302 kg of gold worth $70.4 million to…Details
Azovstal Iron and Steel Works has finished reconstruction of the dust-exhaust system in the crushing division of its converter shop. Under the project valued at 8.1 million UAH, Lamellen-Jet purifying equipment has been installed. The trial operation has confirmed the purification system corresponds to the best European practices. Azovstal started repairing the converter shop in…Details
Bloomberg reported that demand for steel in India could grow at the slowest pace in three years as an economic slowdown in the global industry’s bright spot deepens. Moody’s Investors Service’ Icra Ltd said that steel consumption in India is likely to increase by less than 6% this fiscal year, slowest pace since a 3.1%…Details