From now on DCH Steel Management will manage the operation of both Sukhaya Balka and Dneprovsky Iron and Steel Works. Still, this is not enough to make a full vertically integrated mining and metallurgical group. Coal mining and ore processing are the group’s weak links. In 5 years DCH intends to invest $150-200 million in…Details
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RZD International LLC under the project to construct and repair railroads in Serbia will buy metal structures valued at more than $5.8 million from Voronezhstalmost. The viaducts to be constructed and repaired are situated on the Stara Pazova – Novi Sad site on the Belgrad – Stara Pazova – Novi Sad – Subotitsa – state…Details
TOREX, owner of Amurstal in Komsomolsk-on-Amur, hopes to get a subsidy from the federal budget. The Ministry of industry and trade intends to provide major enterprises with support. The company plans to spend money to clear interest rate on loans, thus decreasing them by 4.5%. At present the ministry is choosing companies to participate in…Details
In 2018 Kurilgeo LLC gold output grew by 37% YoY, to 1.325 tons, and silver – 9%, to 3.8565 tons. Ore mining increased by 28%, to 760 thousand tons. Revenue went up by 46%, to 3.452 billion rubles. Net profit amounted to 447.8 billion rubles, up by 75.8%. Ainskoye deposit, developed by the company, has…Details
Karelsky Okatysh is preparing to put into operation three new Caterpillar 777E dump trucks with the lifting capacity of 90 tons. 7 such machines are already operating at the quarries and have proven their efficiency. “Small dump trucks have a number of advantages. They are universal thanks to their compact size. Where the 220-ton machines…Details
RUSAL and Braidy Industries Inc., a US-based holding company which owns both Veloxint, an MIT-incubated lightweighting solutions company, and NanoAl, a Northwestern University incubated materials research and technology company, announced an intent to establish a joint project in Ashland, Kentucky, USA to produce flat rolled aluminum products for the US automotive industry. The design capacity…Details
Gold output of Khabarovsk region hit a historical record of 24.8 tons in 2018, the regional government said. “In 2018, production of gold grew by 7%, to 24.8 tons. This was an absolute historical record for the region. A company producing tin metal also showed good results, its amount of production grew by 50%, to…Details
Metinvest was the first among Ukrainian companies to get a Vision Zero certificate. According to the group statement, it is operating based on the principles of sustainable development. One of the most important directions of the company is the labor safety and employee health protection. At present the group is implementing a couple of investment…Details
At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders approved the payment of FY2018 dividends of 22.81 rubles per share, or 102% of the company’s free cash flow according to NLMK Group’s consolidated statements prepared in accordance with IFRS. Considering the previously paid interim dividends, the amount outstanding to be paid…Details
At the Annual General Shareholders’ Meeting (AGM) held on April 19, NLMK shareholders voted to confirm Grigory Fedorishin as the group’s President and Chief Executive Officer; and to elect a new Board of Directors, with a majority of independent directors (five seats out of nine). Nine members of the Board of Directors were elected: Vladimir…Details
Local workers at Altynken held a strike demanding to increase their wages. The information was confirmed by the First Deputy Director of the company Turusbek Akmatov. At least 5-6 people did not come to lunch a day before in protest against the fact that their wages were not increased. Some other people held a rally…Details
The Antimonopoly Committee of Ukraine has allowed Metinvest to buy over 50% shares of Dneprovsky By-Product Coke Plant. In particular, the AMKU decision says that Private Limited Liability Company Metinvest BV, the Netherlands, has been granted the right to purchase shares of the Dneprovsky Coke Plant, as a result of which the share of the…Details
The mining and metallurgical complex of Ukraine expects no critical consequences from the new limitations of coal supplies to Ukraine, as well as imports of some metal products, including pipes. According to Ukrkoks CEO Anatoliy Starovoyt, limitations cover power-generating coal in the first place, and not coking coal. “So we see no special problem here.…Details