In 2019 Urals Mining and Metallurgical Company investments in the capital construction of the Gaysky Mining and Processing Works will grow almost 2-fold YoY, to some 6.2 billion rubles. The most part of the funds – over 4 billion rubles – will be spent on the project to increase ore output to 9 million tons…Details
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Russian investors have bought 30% of the new Evraz eurobonds. Evraz has placed 5-year eurobonds in the volume of $700 million and with the interest rate of 5.25%. J.P. Morgan, BofA Merrill Lynch, Gazprombank, ING and Sberbank KIB acted as organizers of the issue. British investors bought 23% of the bonds, continental European investors –…Details
Russia’s gold output rose by 13.8% YoY, to 17.84 tons in January, the Finance Ministry said on March 27 citing the data on supplies to the refining plants. Mined gold output rose by 15.1%, to 14.11 tons, while by-product gold output increased by 40%, to 1.26 tons, but gold scrap production fell by 0.8%, to…Details
Vladimir Potanin, the key shareholder of Russian metals producer Norilsk Nickel, plans to start negotiations with aluminum maker RUSAL, which owns 27.82% in Norilsk, to change the dividend formula to reduce the payouts, Bloomberg reported on March 27. Norilsk Nickel’s shares lost 2.2% at the opening of the Moscow Exchange on the news. RUSAL of…Details
In February Ukraine produced 1.69 million tons of steel, up by 5% YoY. The country was able to retain its 13th position in the Worldsteel rating. World steel output in February totaled 387.61 million tons, up by 3.76% YoY. China, remaining on the first position, increased steel output by 9.18%, to 149.58 million tons. (Ukrainian…Details
The international ratings agency Fitch Ratings has granted Rusal the long-term rating of BB- with the stable outlook. Rusal has been operating successfully even under US sanctions. Moreover their impact was limited and their implementation had been several times postponed, thus the company did not feel the overall impact of the sanctions, Fitch said. (Ukrainian…Details
The Supreme Court has confirmed the legitimacy of the ruling of the Eastern commercial court of appeals on annulling the agreement dated 2015 for the state enterprise Coal Company Krasnolimanskaya (Donetsk region) to supply over 65.128 thousand tons of coal to Trading House – Resource (Zaporozhye) at a price one third below the market. The…Details
In 2018 Korshunovsky Mining and Processing Works decreased net profit more than 2-fold YoY, to 2.33 billion rubles. In 2017 net profit exceeded 4.7 billion rubles. Last year revenue dropped by 13%, to 9.99 billion rubles. Sales profit fell to 330 million rubles from 2.2 billion rubles in 2017. (Ukrainian metal)Details
In 2019 Pavlik intends to extract 7 tons of gold, up by 6% YoY. The output capacity of the mining and processing works will remain the same – 5 million tons of ore per year. Last year the rate of the gold extraction from ore reached 80%. Thus the enterprise produced the record high 6.6…Details
Severstal Steel Decisions is increasing its manufacturing capacities by purchasing a second Voortman V250 machine to drill plates. The new machine is purchased under an investment program to modernize the manufacturing site in Orel with the total cost of 100 million rubles. The Severstal Steel Decisions works is situated in the city of Orel at…Details
In 2018 Nordgold net profit decreased by 45% YoY, to $91.9 million. EBITDA dropped by 10%, to $470.2 million. Revenue fell by 6%, to $1.143 billion. In Q4 2018 the company had a net loss of $17.3 million against $17.3 million of profit in Q3. EBITDA went up by 26%, to $124.7 million, and revenue…Details
Capital investment projects will become the main focus for the Metinvest group this year. “We have recently commissioned the continuous casting machine No. 4 at the Mariupol Ilyich Iron and Steel Works, but this is only the beginning of our large-scale investment program, as it allows us increasing our steel output by 1 million tons.…Details
On April 20, ArcelorMittal Kriviy Rih will shut down its largest blast furnace No. 9 for capital repairs. The work is scheduled to be completed in 45-48 days. The company will replace cooling plates of the furnace and the charging equipment, repair the shell, concrete spray the furnace and apply refractory concrete to the hearth.…Details