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Magnitogorsk Iron and Steel Works (MMK) became the winner in the category "Work with Young People" at the 26th industry competition titled "Enterprise of the Mining and Metallurgical Complex with High Social Efficiency." The competition was based on materials submitted by 50 enterprises from 20 regions of Russia, which comprise 14 metallurgical companies and holdings…
DetailsMagnitogorsk Iron and Steel Works (“MMK”), one of the largest steel suppliers in Russia rated Baa2 (Moody’s) / BBB (Fitch) / BBB- (S&P), returned to the international market after more than 15 years with a successful placement of 5-year US$500mm Eurobonds with an annual coupon rate of 4.375% payable semi-annually. The proceeds of the issue…
DetailsThe Board of Directors of MMC Norilsk Nickel, the world’s largest refined nickel and palladium producer, has set the Extraordinary General Meeting of shareholders (EGM) date on September 19, 2018 and the EGM record date (the list of shareholders eligible to vote) on August 27, 2018. The Board of Directors has recommended for the EGM…
DetailsBlueScope Steel’s New Zealand business reported a 28 percent drop full-year operating earnings due to higher input costs and a drop in prices for export steel and vanadium. Sales revenue for the business, which includes BlueScope’s Pacific Island operations, increased to A$888.1 million for the 12 months to June 30, up 7 percent from a…
DetailsMUMBAI: BSR and Associates, an associate of KPMG India, has filed a case against the government after the bankruptcy court okayed its proposed removal as auditors of IL&FS Financial Services — a position BSR had already resigned — for alleged role in financial irregularities in the firm. With the “deemed removal” of BSR, along with…
DetailsBloomberg reported that as European steel demand comes under growing pressure, two big suppliers to the bloc are betting on online stores to help attract new clients. It may not sound like groundbreaking plan Internet shoppers around the world can already order anything from a prefabricated house to a human skull yet European steel buyers…
DetailsBrazilian steel slab producers are close to resuming bookings of semi-finished material to clients in the United States for November shipment, while they look forward to the renewal of the annual Section 232 import quota for 2020. Such material would arrive at US ports in late December and early January, market participants said. “We are…
DetailsThe shape of the international stainless steel market has changed, in recent years. Burgeoning economic growth, in the developing world – particularly, in Asia – has contributed to growing global production overcapacity, relative to demand. In turn, the number of protectionist trade measures has increased. China’s crude stainless steel output soared from 2 percent of…
DetailsNLMK Group, a global steel company, has signed cooperation agreements with leading players in the steel trading market: Metallservis and Steel Industrial Company, whose total sales in 2018 amounted to 4.3 million tonnes of steel products. As part of the partnership, traders will be able showcase their entire product range through NLMK’s https://nlmk.shop/ online marketplace,…
DetailsCEO of Magnitogorsk Iron and Steel Works (MMK) Pavel Shilyaev took part in the first organizational meeting of an environmental coordination council, created on the initiative of the head of the Chelyabinsk region, Alexei Teksler. The meeting was also attended by representatives of the largest industrial enterprises of the Chelyabinsk region, environmental groups and experts.…
DetailsThe General Meeting (the “Meeting”) of Nord Gold SE (“Nordgold” or the “Company”), the internationally diversified gold producer, was held on Friday, 28 September 2018, at 11 am BST at the offices of Celtic Resources Holdings Limited, Fetcham Park House, Lower Road, Fetcham, Leatherhead, Surrey, KT22 9HD. At the Meeting, the resolutions set out in…
DetailsThe proposed sale of British Steel to the Turkish Armed Forces Assistance Fund, Oyak, has triggered an alarm at the UK Parliament with the Commons defence committee chief calling for the industry to remain under British control, UK’s Daily Mail newspaper reported. Oyak was chosen above several other bidders including British-based Liberty, which already owns…
DetailsNEW DELHI: Billionaire metal tycoon Anil Agarwal-promoted Twin Star Technologies is learnt to have pulled out as a bidder for telecom assets of debt-ridden Reliance Communications due to unknown reason, a source privy to the development said on Thursday. Twin Star Technologies, a holding company under Agarwal’s Volcan Investments Ltd, had earlier shown interest in…
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