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Chairman of the Central Bank Artur Javadyan said that Armenia would soon start producing gold bars. Addressing a government meeting on June 19, Javadyan revealed that a factory would be established, and that all the equipment had already been purchased. “We are working with a prestigious Swiss company. A factory will open to enable our…
DetailsIn May Russia increased gold output by 11.5% YoY. At the same time compared with April the output dropped by 16.3%. In January-May gold manufacture in Russia grew by 24.4% YoY. (Ukrainian metal)
DetailsIn January-May Ukraine mined 12.812 million tons of coal, down by 7.8% YoY. According to the Ministry of energy and coal industry, the output of coking coal dropped by 21.5%, to 2.117 million tons, and of power-generating coal by 4.5%, to 10.695 million tons. In May coal mining decreased by 1.9%, to 2.6 million tons.…
DetailsRepresentatives of Moldova Iron and Steel Works held talks with Ukrainian companies on the resumption of scrap deliveries. “In April and May there were no deliveries. But I know for sure, that their representatives have come to Ukraine for negotiations. There are risks, especially in winter, when scrap procurement in Ukraine falls”, Interpipe CFO Denis…
DetailsVitaliy Bash has been appointed a new general manager of Dneprovsky Iron and Steel Works, a part of DCH. He is also the director of the Sukhaya Balka mine and the managing company DCH Steel. The decision to appoint one person to manage three assets has to do with the need to provide for coordinated…
DetailsThe sanctions imposed by Russia on the delivery of pipes from Ukraine didn’t have an impact on Interpipe. “Losses from sanctions are not considerable. The products yielding the biggest income in Russia have long been prohibited”, Interpipe CFO Denis Morozov said, adding that there was a duty of 27% on Interpipe pipes on the Russian…
DetailsUntil the end of the year Ferrexpo plans to buy 400 gondola cars. The decision is due to the strategic plans of Ferrexpo to increase pellets output. In early 2019 Yeristovo Mining and Processing Works purchased 200 gondola cars from Kryukovsky Works, bringing the combined total to 2.6 thousand cars. (Ukrainian metal)
DetailsAlmalyk Iron and Steel Works has started carrying out the second stage of the railroad infrastructure construction to the Kalmakyr mine. Kalmakyr Mine is the largest mining enterprise in the CIS, the base of Uzbek non-ferrous metallurgy. In 2016 the mine design capacity was increased to 30 million tons of ore per year. Under the…
DetailsSeverstal Distribution was able to increase sales on its traditional markets, having avoided a fall after it ceased operating in Ukraine. “Because of economical risks we were forced to leave Ukrainian market. But these volumes have been compensated for by the growth of sales in the European part of Russia, as well as Central, Northern…
DetailsIn January-March Ukraine increased metal structures manufacture by 2.3% YoY, to 44 thousand tons. Local consumption remained unchanged – some 42 thousand tons. Export in Q1 dropped by 19%, to 1.7 thousand tons. EU accounts for the main share of exports – over 60%. Metal structures imports in Q1 fell by 52%, to 0.3 thousand…
DetailsOlkon has finished assembling an EKG-15 excavator, the largest in its history. The machine will operate at the Komsomolsky quarry. The excavator weighs some 700 tons. It can fill a 136-ton dump truck with rock in just 4-5 ladles. Another machine will be received at the plant until the end of the year, and the…
DetailsIn May Dneprospetsstal decreased steel output by 11% MoM, to 18.4 thousand tons. Rolled metal manufacture grew by 5.4%, to 13.7 thousand tons. In January-May steel output dropped by 15.5% YoY, to 90.8 thousand tons, and rolled metal – by 14.1%, to 61.5 thousand tons. (Ukrainian metal)
DetailsRussian gold producer Nordgold has signed an option deal with Alicanto Minerals Ltd for a preemptive right for a buyback of the Arakaka gold ore mining project in Guyana, the company said in a statement on June 19. Under the agreement, Nordgold gets an option to buy 100% in Arakaka in exchange for $3 million…
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