Severstal has signed a binding agreement to sell Severstal – Bar Works Balakovo to Abinsk Electrometallurgical Works LLC for $215 million. The deal is expected to be finalized in H1. After the sale the group will concentrate on the manufacture of steel at its main asset – Cherepovets Iron and Steel Works. Bar Works Balakovo…Details
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“The draft law on imposing a moratorium on uranium mining in Kyrgyzstan is initially clear and short to avoid some interpretations and loopholes,” MP Kanat Kerezbekov said at public hearings on May 7. According to him, this decision was made in order to avoid future extension of licenses for prospecting and exploration of uranium The…Details
Fitch Ratings has improved Metalloinvest ratings to BB+ with stable outlook from BB positive. The move reflects the strong operational profile of the company with the strategic focus on high-added value products, competitive position, considerable liquidity, and increase of financial indexes, as well as takes into account of the company progress in improving corporate management.…Details
In April, Ukraine produced almost 2.5 million tons of coal, down by 2% from the target. This has been reported by the Coal Miners Union of Ukraine with a reference to the data provided by the Energy and Coal Industry Ministry. “In April, coal mining enterprises of Ukraine of all forms of ownership produced 2,466,500…Details
Energomashspetsstal has shipped a large hammer frame to Germany. The frame was shipped under the contract with LASCO Umformtechnik GmbH. The weight of the frame is 61 tons. This is the 17th hammer frame produced by EMSS for LASCO Umformtechnik GmbH. The next frame will be shipped in October. (Ukrainian metal)Details
In 2018 Susumanzoloto, extracting gold in Murmansk region, decreased net profit by 30.1% YoY, to 1.261 billion rubles. Revenue grew by 21.05%, to 16.217 billion rubles, including 16.075 billion from the sale of gold. The company sold 6072.9 kg of gold last year as opposed to 5415 kg in 2017. (Ukrainian metal)Details
All the Electrozinc shops in Vladikavkaz have ceased operation activity, and all the machinery has been shut down. On October 21, 2018, Electrozinc suffered from fire on the territory of 4.5 thousand square meters. One fireman perished and two were injured. On December 14, 2018 the company announced it would be completely shut down. (Ukrainian…Details
In 2018 Poltava Mining and Processing Works increased net income by 10.3% YoY, to 22.472 billion UAH. Net profit grew by 22.8%, to 5.237 billion UAH. EBITDA went up by 0.7%, to 6.076 billion UAH. Undistributed profit totaled 6.537 billion UAH. (Ukrainian metal)Details
In 2018 Marganets Mining and Processing Works received 163.2 million UAH of net profit, down 5-fold YoY. EBITDA decreased 4.9-fold, to 203.387 million UAH. Last year MGOK received 3.109 billion UAH of net profit, down by 15%. Undistributed profit totaled 698.543 million UAH. (Ukrainian metal)Details
In January-March, Ukraine increased manganese ore imports by 50% QoQ, to 360 thousand tons. In particular, Ghana supplied 76% of the ore (275.6 thousand tons), Russia – 16%, or 56.8 thousand tons and Georgia – 8%, or 28.5 thousand tons. (Ukrainian metal)Details
In January-March, Metalloinvest decreased pig iron output by 13.9% QoQ and by 5.3% YoY. The decrease has to do with repairs of blast furnaces and the drop in the domestic consumption. Steel output fell by 10.5% QoQ and by 4.2% YoY, to 1.2 million tons. The share of high-added value products in sales totaled 45.6%…Details
In January-March, Rusal decreased aluminum manufacture by 0.3% YoY, to 928 thousand tons. Siberian plants accounted for 93% of the aluminum manufactured. Sales totaled 989.6 thousand tons, with high-added value products sales down by 22.2%, to 259 thousand tons. Average price decreased by 7.8% QoQ, to $1949 per ton. Aluminum foil and packaging production dropped…Details
Prices of precious metals increased in Azerbaijan on May 6 compared to the prices of May 3. The price of gold grew by 17.765 manats, to 2,179.9610 manats per ounce. The price of silver went up by 0.3893 manats, to 25.2557 manats per ounce. The price of platinum increased by 20.3405 manats, to 1,466.4030 manats…Details