Russia: Mechel IFRS net profit down in 2019

The net profit attributable to shareholders of the Russian metals and mining group Mechel dropped by 81%, to 2.409 billion rubles in 2019, as calculated under International Financial Reporting Standards (IFRS). Consolidated revenue decreased by 5%, to 296.567 billion rubles, while earnings before interest, taxes, depreciation, and amortization (EBITDA) went down by 29%, to 53.428…

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Ukraine: steel output up in January-February 2020

In January-February, Ukraine increased steel output by 0.4% YoY, to 3.553 million tons. Rolled metal output grew by 7.3%, to 1.68 million tons, but that of pig iron dropped by 4.6%, to 3.14 million tons. Iron ore concentrate manufacture increased by 3.4%, to 10.547 million tons, but that of sinter fell by 0.3%, to 5.137…

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Russia: AGK constructing new horizon to mine copper at Chebachye

Aleksandrinskaya Mining and Ore Company has started preparing to develop the lowest, fifth horizon at the Chebachye mine. The fifth horizon is situated at the depth of 420 meters. Reserves amount to 700 thousand tons of ore. Mining is expected to start in 2022. At present the company is mining at three horizons at the…

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Russia: Mechel sales down in 2019

In 2019, following a large-scale reconstruction in the blast furnace and oxygen-converter shops, Chelyabinsk Iron and Steel Works decreased pig iron output by 8% and steel by 7% YoY. Bars sales dropped by 8%, while shapes grew by 2% and rails – by 15%. Mechel rails sales, without deliveries to RZD and for exports, increased…

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