Belarus: BMZ saves $118.6 million in 2018 by reducing costs

The economic effect from introducing cost-saving measures in the Belarusian steel mill BMZ totaled $118.6 million in 2018 or over 9% of the prime cost of the products the company makes. The figures were mentioned by the company’s Director General Anatoly Savenok at a performance review conference of the company’s trade union. According to the…


Ukraine: state mines cut off grid

A number of state coalmines on April 1 were cut off grid. According to the National Miners’ Union chairman Mikhail Volynets, mines of the state enterprises Volynugol (Volyn region), Lisichanskugol, Pervomayskugol and Mirnogradugol (all three – Lugansk region), as well as the mines Kapitalnaya and Centralnaya have been cut off grid. The enterprises are working…


Ukraine: ZTMK orders 159 million UAH worth of electricity

Zaporozhye Titanium and Magnesium Works LLC has concluded an agreement with the Agency of Investment Management LLC for the delivery of electricity valued at 159.07 million UAH. In April-June the company will supply an unknown volume of electricity at undisclosed price. Previously ZTMK ordered 138 million UAH of electricity for January-March from the “supplier of…


Russia: Uralelectromed switches to losses in 2018

In 2018 Uralelectromed received 807 million rubles of net losses as opposed to 1.3 billion rubles of net profit in 2017.

Revenue grew by 14%, to 42.27 million rubles.

Sales profit fell by 45%, to 1.55 billion rubles. (Ukrainian metal)

Russia: NMZ profits in 2018

In 2018 Novosibirsk Iron and Steel Works named after Kuzmin received 4.45 million rubles of net profit.

In 2017 the company saw a net loss exceeding 100 million rubles.

Revenue went up by 41%, to 8.76 billion rubles.

Sales losses totaled 162 million rubles, down by 17%. (Ukrainian metal)

Kyrgyzstan: government to support Makmal investor

“We will provide the necessary assistance in the implementation of the project for further development of Makmal field,” the Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev said at a meeting on the further development of Makmal. Earlier Kyrgyzaltyn OJSC held an investment tender for creation of a joint venture for further development of Makmal mine. Manson…