Ukraine is investigating whether a charitable foundation set up primarily to coordinate London-listed Ferrexpo Plc’s philanthropic activities was used to launder money and evade taxes. Officials of Blooming Land Charitable Foundation abused their powers to seek “illicit benefits”, damaging state interests, a Ukraine prosecutor said in a court filing in Kyiv in February. Blooming Land…Details
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In January-March, Ukrzaliznytsia (Ukrainian Railways) increased metal cargo transportation by 0.4% YoY, to 24.1 million tons. In particular, transportation of scrap dropped by 27.9%, to 500 thousand tons, of ferrous metals – by 5.4%, to 5 million tons, and coke – by 10.6%, to 1.1 million tons. At the same time, transportation of iron and…Details
At least 29,286 people have signed a petition against a project on development of Tash-Bulak field in Issyk-Kul region in a week. The collection of signatures continues. The author of the petition is Alena Khomenko. She invited everyone to sign the online petition. In just a couple of days, 15,000 people signed the online document.…Details
In 2018 Ukrainian Mining and Metallurgical Company decreased net income by 44.6% YoY, to 1.736 billion UAH. Last year the company received a net loss of 102.747 million UAH as opposed to 149.255 million UAH of net profit in 2017. The decrease in financial indexes is caused by a long-term decrease of rolled metal price…Details
Severstal and the Luxembourg pipe manufacturer Tenaris have applied to the European Commission to approve a deal to create a joint venture. The new company will produce seamless pipes for the oil industry in the town of Surgut. The JV has been registered in Singapore. The share of Severstal will be 51%, and of Tenaris…Details
In January-March, Kaz Minerals produced 70 thousand tons of copper, up by 4% YoY. This year the output is expected to total 300 thousand tons. Aktogay produced 36.7 thousand tons of copper, with 130-140 thousand tons to be produced this year. Sulfide copper manufacture grew by 6% QoQ, to 31 thousand tons, and by 47%…Details
A new long face No. 543 has been put into operation at the Mine named after Stashkov of the DTEK Dneprovskoye Mine Group. It is expected to provide the mine with 185 thousand tons of gas coal. The long face with the length of 182 meters will be in operation for 4 months. Since the…Details
Due to the increase of capacity, Almalyk Mining and Processing Works produced 12782 tons of raw copper in March, up from the target of 11760 tons. Average daily output was 460 tons, more than the target of 379 tons. Anode copper output target was set at 13493 tons, with 450 tons per day, but the…Details
In 2018 Mariupol Ilyich Iron and Steel Works received 3.37 billion UAH of net profit as opposed to 828.06 million UAH of net losses in 2017. EBITDA reached 4.14 billion UAH (-966.21 million UAH in 2017). Net income grew by 39.7%, to 79.09 billion UAH. Undistributed profit in late 2018 totaled 3.72 billion UAH. Last…Details
“It is extremely important for exploration of new uranium objects in the region to be carried out only under the condition of maximum observance of environmental and technical safety,” Special Representative of the European Union for Central Asia, Peter Burian, declared. According to him, at the last donor conference on reclamation of uranium facilities in…Details
Donetsk region mining business continues increasing wages to its employees. As a result, some underground professions already exceed the average level of salary in Poland and the Czech Republic for Ukrainian workers. Average increase in wages reaches 15%. The growth will cover over 10 thousand employees of 8 companies-partners of Donetskstal, including the Pokrovskoye Mine…Details
In 2018 the United Mining and Chemical Company received 114.9887 million UAH of net profit, down 3.9-fold YoY. EBITDA dropped by 60%, to 220.7 million UAH. At the same time the net income increased by 12.5%, to 3.213 billion UAH. Undistributed profit as of late 2018 totaled 115.087 million UAH. (Ukrainian metal)Details
Rusal has placed 10-year bonds valued at 15 billion rubles. The interest rate is 9%. Initial volume of bonds was 10 billion rubles, but the demand allowed the company to increase it to 15 billion. This is the first issue of bonds by Rusal after the sanctions from it have been lifted. In January 2018,…Details