The operation of Kumtor should not be stopped, mining engineer Orozbek Duisheev declared. According to him, mining industry is in critical condition. “It is necessary to change the laws, there must be independent management in order to bring the industry out of crisis. First of all, Kumtor should not be stopped, it must continue working,”…Details
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Tax increase will not hinder development of the mining industry in Kyrgyzstan, mining engineer Duishenbek Kamchybekov declared. According to him, after a meeting of the Security Council, where work of deposits was discussed, the International Business Council spoke against the decision. “The International Business Council said that tax issues were burdensome for us. The tax…Details
Ukrtransgaz subsidiary following a tender has ordered Interpipe Ukraine LLC the delivery of pipes valued at 109.19 million UAH. Until June the company has to supply 1,674 tons of welded steel pipes of K55 according to GOST 20295-85 with the diameter of 530×7, 530×8 and 530×10 mm produced by Interpipe NMTZ at 65,239 UAH per…Details
In December 2018 Metinvest received $968 million of revenue, up by 5.6% MoM. EBITDA dropped by 44%, to $103 million. The metal division EBITDA was minus $9 million as opposed to $69 million. Mining division EBITDA grew from $105 million to $113 million. Metal division revenue increased from $763 million to $809 million, and of…Details
Russia is suffering from a considerable railroad wheel shortage. The deliveries from two main manufacturers – OMK and Evraz – at 45 thousand rubles ($660) per wheel are not enough. The price reaches 150 thousand rubles ($2200) or even 250 thousand ($3670). While two years ago the price was 25 thousand rubles. The situation worsened…Details
Severstal and KamAZ have signed a long-term agreement on metal supplies in 2019. The company will supply cold- and hot-rolled metal to be used in the manufacture of various spare parts. In 2018 Severstal delivered over 47 thousand tons of metal to KamAZ. Last year the company also started supplying steel grades to replace import…Details
The department of the inner market protection of the Eurasian Economic Committee has started a special investigation on the imports of welded pipes made of corrosion-resistant steel. In particular, the department will be investigating the imports of pipes and tubes with the outer diameter of 6 to 115 mm and wall thickness of 0.4 to…Details
In 2019 Russian Copper Company intends to start mining copper-zinc ore at the three new deposits in Kazakhstan. The group is prepared to invest some 870 million rubles in the project. In particular, RCC will be developing the Aralchinskoye, Kundyzdy and Limannoye deposits. Ore from the three deposits will increase the share of the copper-zinc…Details
Rusburmash has started prospecting works at the site of the future uranium mine No. 6 of the Argunskoye and Zherlovoye deposits. The project is expected to provide the nuclear industry with raw materials and keep jobs at the largest uranium-mining enterprise of Russia – the Priargunskoye manufacturing mining and chemical enterprise named after Slavskiy. Rusburmash…Details
Evraz ZSMK has confirmed its certificate for OR50 NT260 switch rails. The representatives of the Russian Railroads together with the company specialists have checked the rails. Evraz ZSMK is the only company in Russia to produce such rails. (Ukrainian metal)Details
GV Gold has won an auction for geological exploration and development of ore gold on the Ergelyakh block in the republic of Yakutia, the company said in a statement. Ergelyakh is located 30 kilometers off the Drazhnoye deposit of GV Gold’s Tarynsky ore-enrichment plant. Ergelyakh’s forecasted ore gold resources stand at 0.12 tons under the…Details
In July-December 2018, Coal Energy S. A. decreased net losses by 15.1% YoY, to $7.31 million. Income grew by 32.2%, to $6.96 million and EBITDA – by 55.1%, to $1.22 million. Coal mining increased by 27.8%, to 70.3 thousand tons, including 68.3 thousand tons of coking coal, up by 39.7%. Sales growth was 19.5%, to…Details
A draft decree has been registered in the Verkhovna Rada. It presupposes canceling the voted draft decree on the increase of scrap export duty from 42 euro to 58 euro per ton. According to the accompanying note, because of the implementation of this decree, the balance of interests of all participants will be lost, and…Details