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All the three converters of the Cherepovets Iron and Steel Works have been switched to using combined steel blow technique. The total cost of the investment project exceeded 350 million rubles. With the new technique the time of the converter smelting will decrease by 0.5-1.5 minutes, which will result in the company savings of some…
DetailsThe government decree dated March 21 has made amendments to the government decree dated August 30, 2013 on the customs duties on exported goods. According to the amendments, the customs duty on the export of tungsten ore and concentrates is zeroed. The decree comes into effect in 30 days since its official publication and is…
DetailsIn 2019 Urals Mining and Metallurgical Company investments in the capital construction of the Gaysky Mining and Processing Works will grow almost 2-fold YoY, to some 6.2 billion rubles. The most part of the funds – over 4 billion rubles – will be spent on the project to increase ore output to 9 million tons…
DetailsRussian investors have bought 30% of the new Evraz eurobonds. Evraz has placed 5-year eurobonds in the volume of $700 million and with the interest rate of 5.25%. J.P. Morgan, BofA Merrill Lynch, Gazprombank, ING and Sberbank KIB acted as organizers of the issue. British investors bought 23% of the bonds, continental European investors –…
DetailsRussia’s gold output rose by 13.8% YoY, to 17.84 tons in January, the Finance Ministry said on March 27 citing the data on supplies to the refining plants. Mined gold output rose by 15.1%, to 14.11 tons, while by-product gold output increased by 40%, to 1.26 tons, but gold scrap production fell by 0.8%, to…
DetailsVladimir Potanin, the key shareholder of Russian metals producer Norilsk Nickel, plans to start negotiations with aluminum maker RUSAL, which owns 27.82% in Norilsk, to change the dividend formula to reduce the payouts, Bloomberg reported on March 27. Norilsk Nickel’s shares lost 2.2% at the opening of the Moscow Exchange on the news. RUSAL of…
DetailsIn February Ukraine produced 1.69 million tons of steel, up by 5% YoY. The country was able to retain its 13th position in the Worldsteel rating. World steel output in February totaled 387.61 million tons, up by 3.76% YoY. China, remaining on the first position, increased steel output by 9.18%, to 149.58 million tons. (Ukrainian…
DetailsThe international ratings agency Fitch Ratings has granted Rusal the long-term rating of BB- with the stable outlook. Rusal has been operating successfully even under US sanctions. Moreover their impact was limited and their implementation had been several times postponed, thus the company did not feel the overall impact of the sanctions, Fitch said. (Ukrainian…
DetailsThe Supreme Court has confirmed the legitimacy of the ruling of the Eastern commercial court of appeals on annulling the agreement dated 2015 for the state enterprise Coal Company Krasnolimanskaya (Donetsk region) to supply over 65.128 thousand tons of coal to Trading House – Resource (Zaporozhye) at a price one third below the market. The…
DetailsIn 2018 Korshunovsky Mining and Processing Works decreased net profit more than 2-fold YoY, to 2.33 billion rubles. In 2017 net profit exceeded 4.7 billion rubles. Last year revenue dropped by 13%, to 9.99 billion rubles. Sales profit fell to 330 million rubles from 2.2 billion rubles in 2017. (Ukrainian metal)
DetailsIn 2019 Pavlik intends to extract 7 tons of gold, up by 6% YoY. The output capacity of the mining and processing works will remain the same – 5 million tons of ore per year. Last year the rate of the gold extraction from ore reached 80%. Thus the enterprise produced the record high 6.6…
DetailsSeverstal Steel Decisions is increasing its manufacturing capacities by purchasing a second Voortman V250 machine to drill plates. The new machine is purchased under an investment program to modernize the manufacturing site in Orel with the total cost of 100 million rubles. The Severstal Steel Decisions works is situated in the city of Orel at…
DetailsIn 2018 Nordgold net profit decreased by 45% YoY, to $91.9 million. EBITDA dropped by 10%, to $470.2 million. Revenue fell by 6%, to $1.143 billion. In Q4 2018 the company had a net loss of $17.3 million against $17.3 million of profit in Q3. EBITDA went up by 26%, to $124.7 million, and revenue…
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