Metinvest plans to finish restructuring debt on eurobonds and pre-export financing (PXF) and issue just over $1.971 billion in new bonds on March 22, the Ukrainian mining and metallurgical holding said in a statement filed with the Irish Stock Exchange. The holding will also complete the formalities for a new PXF facility worth $1.109 billion.…
DetailsOn March 20, a working group on the liberalization of the coal market in Ukraine was created to fulfill an order issued by the Prime Minister of Ukraine Volodymyr Groysman. Vice Prime Minister Volodymyr Kistion was appointed head of the group, reads a report on the government’s website. “On March 9, under the chairmanship of…
DetailsRussian gold producer Polyus will sell an 82.34% stake in the Nezhdaninskoye gold deposit for $158 million to a company beneficially controlled by Ivan Kulakov, a former managing director of Highland Gold Mining, Polyus said in a statement on March 21. The payment will consist of two tranches: $100 million will be paid upon completion…
DetailsMagnitogorsk Iron and Steel Works has decided to modernize its continuous casting machine No. 6 and the 5000 plate mill in order to start producing hot-rolled metal of the 350 mm thick slab. The project, including modification, assembly and putting into operation, is expected to be finished this year. At present the CCM No. 6…
DetailsIn 2016 the Russian Railways throughput dropped by 1% YoY, mostly because of the considerable decrease in coal transportation. 99% of the transit raw materials come from Kazakhstan, and last year they decreased by 24.4% YoY. On the other hand, this has been compensated for by the ferrous metals transportation from Kazakhstan, which increased by…
DetailsIn February Ukraine exported $31.203 million worth of pig iron, with imports on the level of $0.223 million. According to the State Fiscal Service, the main importer of Ukrainian pig iron in February was Italy ($10.166 million). In January-February Ukraine exported $99.642 million worth of pig iron, while imports totaled $0.286 million. Pig iron exports…
DetailsFollowing the cave-in of the Stepnaya mine in the Lviv region the government commission will check 300 mining companies. “We are checking all the documents at 300 enterprises of the mining complex which are deemed dangerous”, the Vice Prime Minister Gennadiy Zubko said. The commission started operating on March 6. According to Zubko the Stepnaya…
DetailsIn 2017 Pobuzhye Ferronickel Plant intends to increase ore processing by 14% YoY, to 1.618 million tons, ferronickel output by 3.5%, to 82.7 thousand tons, and nickel manufacture by 3.3%, to 18.7 thousand tons. According to the company CEO Oleg Bespalov, in H1 the ferronickel output is expected to reach 40 thousand tons, nickel –…
DetailsChepets Mechanical Works has concluded a 5-year contract for the delivery of a large batch of rolled titanium to Hermith GmbH. According to the agreement, the works will supply over 1 thousand tons of various titanium products to the European market valued at $34.5 million. “We plan to supply the ChMZ metal to all the…
DetailsIn January-June Pobuzhye Ferronickel Plant intends to carry out repairs of its main machinery valued at 46.9 million UAH. According to the company CEO Oleg Bespalov, in 2016 the plant carried out repairs valued at 50.33 million UAH. This year the company will also spend 31.3 million UAH on environment protection. The works intends to…
DetailsIn 2016 Avdiivka Coke and Chemical Works received 808.74 million UAH of net profits, up 2.6-fold YoY. According to the company statement, the cost of its assets at the end of 2016 totaled 19.07 billion UAH. The company accounts receivable reached 11.61 billion UAH, current liabilities – 10.53 billion UAH and fixed liabilities – 817.24…
DetailsU.K. Highland Gold Mining (HGM), which operates in Russia, has estimated capital expenditures on the Unkurtash deposit in Kyrgyzstan to amount to $322 million, the company said in a statement on March 20. The field’s annual gold output is expected at 133,000 ounces, or 4.14 tons, on average with operating expenses of $616 per ounce…
DetailsIn 2016 the largest pig iron producer Tulachermet received 1.8 billion rubles of net profits, up from 253 million rubles in 2015. At the same time net profits in 2014 totaled 1.9 billion rubles. The company revenues last year increased by 15% YoY, to 34.57 billion rubles. Sales revenue dropped to 1.39 billion rubles from…
DetailsThe authorities of the Kemerovo region and the Taltech group have signed an agreement on the socio-economical cooperation in 2017. This year Taltech intends to increase coal output by 13.5%, to 4.2 million tons. Investments of 300 million rubles will be spent on engineering and construction of enterprises as well as the purchase of new…
DetailsIn January-February Russia produced 580 thousand tons of steel structures and parts, down by 14.5% YoY.
According to the Federal Service of State Statistics, in February steel structures output increased by 18.8% YoY and by 14.8% MoM. (Ukrainian metal)
In 2016 Norilsk Nickel bought some 5 tons of palladium from Global Palladium Fund. The authorized capital of the fund received $100 million, which allowed making trial transactions. The fund is toying with palladium transactions. Last year it successfully bought palladium and then resold it to the major customers of Norilsk Nickel. This year the…
DetailsIn 2016 Ingulets Mining and Processing Works received 69.26 million UAH of losses, down 50.5-fold, or by 3.43 billion UAH. According to the company statement, its assets at the end of 2016 cost 40.49 billion UAH, up by 10.4% YoY. The company fixed liabilities totaled 1.38 billion UAH, up by 60.9% YoY, with current liabilities…
DetailsIn 2016 Mariupol Ilyich Iron and Steel Works received 152.79 million UAH of losses, down 10.4-fold YoY. The company assets at the end of 2016 cost 53.24 billion UAH. Its accounts receivable reached 15.84 billion UAH, with fixed liabilities on the level of 6.54 billion UAH, and current liabilities at 20.26 billion UAH. In 2015…
DetailsIn 2017 ArcelorMittal Kriviy Rih will invest some $400 million into the capital repairs of its premises and machinery. “Around 70% of projects is the modernization of techniques and the improvement of the environment”, the company CEO Paramjit Kahlon said. In particular, capital investments will total $250 million. Last year AMKR invested 6.3 billion UAH…
DetailsIn 2016 Poltava Mining and Processing Works received 3.2 billion UAH of profits, up by 19% YoY. According to the company statement, this has been achieved due to the increase in output of premium-quality pellets despite the volatility of iron ore raw materials prices on world markets. Last year PGOK paid 165.1 million of income…
DetailsCorum Svitlo Shakhtaria has manufactured a new upgraded coal shearer, CLS450, to cut coal from thin and medium coal beds with a varying thickness of 1 to 2.4 m. After the tests are completed, the equipment will be shipped to Almazna Mine of DTEK Dobropolyeugol. It is the company’s first shearer with the loading unit…
DetailsThe enterprises of Metinvest mining and metallurgical group in the territories of Donetsk and Luhansk regions, temporarily uncontrolled by Ukrainian authorities, have announced the cancellation of all the letters of attorney they issued earlier. According to the announcement, the letters of attorney were canceled by PJSC Yenakievo Iron and Steel Works, PJSC Khartsyzsk Pipe Works,…
DetailsThe Vostochniy Mining and Processing Works has ordered the Trading House Eco-Service LLC the delivery of slag valued at 31.54 million UAH. By the end of the year the company will have supplied 137199 tons of granulated blast furnace slag to produce cement to Ingulskaya and Smolinskaya mines at 230 UAH per ton. In October…
DetailsIn 2016 ArcelorMittal Kriviy Rih sold 6.1 million tons of metal, up by 13% YoY. According to the company CEO Paramjit Kahlon, 87% of metal was exported and the rest – 850 thousand tons – sold on the local market. The main export markets for AMKR are Egypt, Iran, Turkey as well as Northern and…
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