Metinvest B.V., the parent company of a vertically integrated group of steel and mining companies (“Metinvest”), announces that following the successful debt restructuring completed in March, international rating agencies Moody’s Investors Service (“Moody’s”) and Fitch Ratings (“Fitch”) have both upgraded Metinvest’s credit ratings to ‘Caa2’ (‘stable’ outlook) and ‘B’ (‘stable’ outlook), respectively. According to a…Details
The Russian government’s commission for foreign investment control has approved the purchase of rights by CIS Mining Development Ltd to manage the Mikheyevsky ore processing facility, Andrei Tsyganov, a deputy director of the Federal Antimonopoly Service, reported. “The second deal is a purchase by CIS Mining Development Limited of rights that allow it to define…Details
Alexander Podkorytov, the ex-CEO of Yenakievo Iron and Steel Works, has been appointed the new CEO of Dneprovsky Iron and Steel Works. The previous DMK director Vyacheslav Mospan has been fired, but according to the unconfirmed information, he will remain working at the plant. DMK has been working at 25-30% capacity lately because of the…Details
In 2016 Kraszvetmet revenues totaled 19 billion rubles, with net profits at 432 million rubles.
Sales volume remained on the 2015 level.
The company shares on most of the markets showed growth in 2016: by 65% on gold, by 60% on silver and by 97% on platinum. (Ukrainian metal)
Metinvest denies information in mass media of buying Dneprovsky Iron and Steel Works, a part of the Industrial Union of Donbass. The group also reported canceling all its labor connections with employees on the uncontrolled territories, including the ex-CEO of Yenakievo Iron and Steel Works Alexander Podkorytov. “The contract with Podkorytov has not been prolonged.…Details
In 2016 Metinvest paid over 14.1 billion UAH of taxes to budgets of all levels.
According to the company statement, despite the increase in expenses and tariffs, as well as infrastructure problems and the ongoing military activity, the group was able to keep taxes paid on the level of 2015. (Ukrainian metal)
In mid-April Rusolovo will start mining tin at its Pravourminskoye deposits in Khabarovsk krai. This year the company intends to mine 830-850 tons of tin there, last year it mined 600 tons. The Molodezhny mine yielded 70 tons of concentrate last year, its capacity being 1.5 thousand tons per year. All in all in 2017…Details
Within the construction of the second stage of the copper electrolysis shop at Uralelectromed, a part of UMMC, a new machine to strip copper cathodes will be put into operation. This would be the same machine as is currently operating in the first stage of the shop, but all the work will be done by…Details
NLMK-Sort rebar and rolled wire mill has the capacity of 1 million tons per year. The Danieli mill can produce 6-16 m rebars and 5.5-22 mm rolled wire. A part of products (some 330 thousand tons of 5.5-6.5 rolled wire) is supplied to NLMK-Metiz, the rest is sold locally or exported. In 2017 the company…Details
The Rovno commercial court of appeals has cancelled the ruling of the Commercial court of the Volyn region dated February 21, which initiated the bankruptcy of the state-run Volynugol. The state enterprise has been in the process of going bankrupt since March 2. The appeal on the bankruptcy ruling was filed by the Ministry of…Details
Mariupol Ilyich Iron and Steel Works started manufacturing new products for the delivery to USA. “The US market is very attractive for our products. We are actively increasing the range of customers there, as well as new products. A good result for March is the cold-rolled structure steel according to ASTM A 1008/A 1008M”, the…Details
Vorkutaugol, a part of Severstal, has put into operation two new long faces at the Vorkutinskaya and Komsomolskaya mines.
The Vorkutinskaya long face reserves are estimated at 468 thousands tons of coal. The mining will be carried out until November.
The Komsomolskaya face has 856 thousand tons of coal, enough till March 2018. (Ukrainian metal)
Armenian scientists are working on the new technique to produce magnesium. According to Vagan Lalayan, the head of the Ministry of economical development and investments department of investment policy, their partner is the Ecoatom company. “The company wants to construct a works to produce 1 thousand tons of magnesium per year. There are many ways…Details
Dneprovsky Iron and Steel Works has started blowing-in its blast furnace No. 9. “The situation at the enterprise is improving. In the near future we will start receiving coke, and we will resume operation”, the acting CEO of the company Alexander Podkorytov said. On March 30, DMK had to shut down its blast furnace because…Details
On April 5, the Norilsk Nickel Board of Directors set the date for the AGM on June 9, and the record date for the AGM participation has been set on May 16. The list of candidates nominated to the Board of Directors includes: Gareth Penny, Non-executive Chairman of the Board, Pangolin Diamonds Corp. and Edcon…Details
In January-March Zagorsky Pipe Works increased its customer portfolio. For the first time the PNP pipes were sent for the Yamal LNG and AcrticGas projects. The company also delivered all the necessary pipes to Lukoil West Siberia one month earlier. “In April we intend to produce 13-14 thousand tons of pipes and we are sure…Details
In 2016 Vostochniy Mining and Processing Works increased net profits 37.2-fold YoY, or by 480.617 million UAH, to 493.891 million UAH. According to the company statement, its net income dropped by 5.8%, or by 164.107 million UAH, to 2680.433 million UAH, while gross profit almost doubled, to 728.611 million UAH. As of December 31, 2016…Details
In 2016 Ceramet processed and sold almost 1 million tons of scrap, with over 200 thousand tons delivered locally. European customers purchased 800 thousand tons of scrap, with Keramet Polska Sp. z o.o. supplying 60% of this volume and Keramet Hungary Kft – 40%. Last year the company invested 16.8 million UAH in the development…Details
Energomashspetsstal has shipped the press table weighing 18.5 tons to Germany.
The customer is Gerlach GmbH, the daughter company of ThyssenKrupp AG, specializing in the manufacture of metal mills.
The contract was concluded in 2014. And the companies have been cooperating since then. (Ukrainian metal)
2016 was the growth period for Kraft Group, as the sales increased by 65.5% YoY. The average monthly sales volume reached 18 thousand tons. Kraft Group is active in supplying metal to socially important projects, including the new terminal in the Domodedovo airport, Zaryadye park in Moscow, Lakhta-Center and the West Speed Diameter in St.…Details
According to the Canada Border Services Agency, the investigation on the import of steel rebars from Belarus, Taiwan, Hong Kong, Japan, Portugal and Spain has been completed.
The duties have been established at 2.4-108.5%.
The final decision will be taken by the Canadian International Trade Tribunal on May 3. (Ukrainian metal)
Zaporozhkoks has finished the first stage of the coking batteries No. 5 and 6 reconstruction, having repaired 11 coking boxes of the battery No. 6. According to the company statement, the first stage of the program cost 9.1 million UAH. “The overhaul of the coking batteries extends their life time by 15 years. It will…Details
In January-March Ukraine imported 3646.205 thousand tons of coal valued at $569.631 million, with $212.041 million in March. According to the State Fiscal Service, Russia supplied $350.834 million worth of coal (61.59% of the total volume), USA – $102.166 million (17.94%), Canada – $43.707 million (7.67%), other countries – $72.924 million (12.8%). In monetary terms…Details
In January-March Ukraine exported 38.671 thousand tons of ferrous scrap, up 3.3-fold YoY, valued at $11.548 million, up 4.7-fold YoY. According to the State Fiscal Service, imports increased 2-fold YoY, to 8.720 thousand tons valued at $6.474 million, up 4.2-fold. The main suppliers were Turkey (80.72%), Moldova (12.51%) and Russia (5.48%), with the main customers…Details