Fincraft Resources of the main Petropavlovsk shareholder Kenes Rakishev will invest $200-300 million in the development of mines at the Gornostayevskoye, one of the largest cobalt and nickel deposits in Kazakhstan. The cluster will start operating in 3 years, with metal to be exported to South Korea, China and Russia. The deposit reserves are estimated…Details
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From September, ArcelorMittal Poland will shut down its sinter factory, blast furnace and converter shops at the Krakow plant. The shut down will last for months or even quarters. At the same time the company will not fire 1.2 thousand employees. They will be transferred to rolling shops, other ArcelorMittal enterprises, or to subcontracting companies.…Details
Russian steelmaker Novolipetsk Steel (NLMK) plans to reduce steel production to about 16 million tons in 2019 from 17.493 million tons in 2018, President Grigory Fedorishin announced. “The amount of steel production will fall at the Lipetsk facility because a big blast furnace and a big converter will shut down for repairs. We intentionally united…Details
Over the week, the price of one ounce of gold has increased by 9.996 manats or by 0.4%. The average price of one ounce of gold stood at 2,184.0209 manats. The price of one ounce of silver decreased by 0.1599 manats or by 0.6%, to 24.6227 manats. The price of one ounce of platinum went…Details
In 5 years Zaporozhogneupor, the largest manufacturer of refractories in Ukraine, has invested over 30 million UAH in the projects to maintain its machinery. The company was the first in Ukraine to commission a line to produce refractory concretes and masses. Thanks to autoclave bag filters, purified air is discharged during its operation. Air pollution…Details
Prices of precious metals increased in Azerbaijan on May 31 compared to the prices of May 30. The price of gold grew by 25.0325 manats, to 2,197.539 manats per ounce. The price of silver went up by 0.2355 manats, to 24.6979 manats per ounce. The price of platinum increased by 2.805 manats, to 1,350.31 manats…Details
In January-March, the net profit of Rusal Bratsk Aluminum Works increased 1.9-fold YoY, to 1.344 billion rubles. Revenue grew by 7.4%, to 27.214 billion rubles, and gross profit – by 9.7%, to 2.619 billion rubles. Other income increased 5.5-fold, to 570.3 million rubles, while other expenses dropped 2.8-fold, to 42.5 million rubles. (Ukrainian metal)Details
Exports of Chukotka coal to Asian markets will grow. Coal output at the Amaam coal basin will increase from 576 thousand tons in 2018 to 680-750 thousand tons in 2019. TIG Company expects sales growth from 393 thousand tons to 650-720 thousand tons. The company has purchased four 500-ton barges. It also intends to design…Details
Mednogorsk Copper-Sulfur Works has carried out a project to replace filter equipment. New Shandong Jingjin Environmetal Protection Equipment Co. Ltd filter-presses have been assembled at the dust-processing site of the sulfur acid shop. Investments reached 41.2 million rubles. The filtration area of the new equipment is almost twice larger – 240 square meters. (Ukrainian metal)Details
Novinsky Metal Structures Works has started carrying out a Severstal order to produce metal structures of the continuous pickling machine according to Danieli design. The total weight of metal structures will be 1188 tons. As the order is complex, the company has invited other manufacturers to participate. Thus, MAMI, Continent Elite Metal Structures Works, as…Details
NLMK announced the placement of 7-year $500-million Eurobonds with an annual coupon rate of 4.7% payable semi-annually. The proceeds will be used for general corporate purposes. The issue was oversubscribed more than three-fold with the order book exceeding $1.7 billion at the peak and more than 150 investors. The final order book was subscribed by…Details
Prices of precious metals decreased in Azerbaijan on May 30 compared to the prices of May 29. The price of gold dropped by 5.9925 manats, to 2,172.5065 manats per ounce. The price of silver fell by 0.0102 manats, to 24.4624 manats per ounce. The price of platinum went down by 11.458 manats, to 1,347.505 manats…Details
Since the start of the year Beloretsk Iron and Steel Works has presented 14 new steel products to the market: wire, belt and ropes. Trial batches of new products have been shipped to the enterprises of the car, power, cable, electrode and mining industries. In particular, BMK has mastered the manufacture of improved-strength wire. Steel…Details