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Sovkombank has organized a loan for KAZ Minerals in the amount of $1 billion. The deal was formed as pre-export financing for 4 years with the possible prolongation for 2 years. The financing has been provided by a syndicate of leading financial institutions, with Sovkombank being the only Russian bank. (Ukrainian metal)
DetailsThe Federal Antimonopoly Service of Russia has approved of the A-Property claim to buy 100% in the Elga coal project of Mechel. In particular, the company will buy 100% in Elgaugol LLC, Elga-Doroga LLC and Mechel Trans Vostoc. Mechel owns 51% in these companies, and Gazprombank – the rest. Elga is one of the largest…
DetailsThe meeting of Amurstal shareholders decided to replace the CEO of the company. As a result, Grigory Freidin, representing the largest shareholder – Moscow businessman Pavel Baulsky, has become the new director. The new management suspects embezzlement of 2 billion rubles at the company. At present the company is not operating, as there is no…
DetailsTriArc Mining is preparing to start operation at the Tomtorskoye deposit and construction of a mining and processing works in Krasnokamensk. Investments in the development of the rare-earth metals deposit in the Republic of Sakha (Yakutia) will exceed 55 billion rubles. So far the company has invested some 4 billion rubles. The capacity of the…
DetailsIn December 2019 Russia imported 87 thousand tons of manganese ore and concentrate, up by 18% MoM, but down by 50% YoY. Deliveries from South Africa grew from 29.5 thousand tons to 74.1 thousand tons, and from Kazakhstan – by 24%, to 4.7 thousand tons. Purchases from Gabon dropped by 50%, to 40.2 thousand tons.…
DetailsThe first phase of Derrick Fine Screening Technology was launched in four technological sections of the beneficiation plant on September 3, 2019. As a result, 3.7 million tons of iron ore concentrate are expected to be produced in 2020 at the fine screening technology sections. Beneficiated concentrate with increased iron content and reduced silica level…
DetailsThe aluminum production of Russia’s UC RUSAL grew by 0.7% QoQ, to 949,000 tons in October-December 2019, the company said in a statement on February 28. Alumina production rose by 4.7%, to 2.05 million tons, bauxite – by 2%, to 4.026 million tons, and nepheline ore – by 5.6%, to 1.074 million tons. Output of…
DetailsThe Government of the Republic of Armenia, through its Ministry of Territorial Administration and Infrastructure, has expressed its commitment to good governance of the mining sector by joining the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF). “We are pleased to welcome Armenia as the IGF’s 75th member,” said Greg Radford, Director, IGF.…
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