Precious metals producer Polymetal International hopes to obtain licenses for survey at three gold-containing fields on Russia’s northernmost Taimyr Peninsula, CEO Vitaly Nesis reported. In April, Polymetal set up a debut strategic partnership with a junior company to organize exploration on the peninsula, with a shareholding of 70%. “We have a joint venture with a…Details
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A consortium led by Fosun International Ltd. is in talks to acquire a majority stake in GV Gold, a Russian gold miner backed by BlackRock Inc., Bloomberg reported, citing people familiar with the matter. Fosun is considering teaming up with partners including Zhaojin Mining Industry Co. for a joint offer, the people said, asking not…Details
ArcelorMittal Kriviy Rih has received the third locomotive this year modernized by Nikolayev Locomotive-Repair Plant. 4 more machines are expected in August-October. And three will be sent for repairs in late June. Thus, in 2019, 11 locomotives will be repaired this year, up almost 2-fold YoY. “But for the fleet of 126 machines, which service…Details
Magnitogorsk Iron and Steel Works (MMK) shipped 181,070 tons of long products to consumers in May, which was a record figure of monthly shipments of this type of product since the launch of the existing units of the long shop. The previous record figure was 172,000 tons of long product shipments, which was reached at…Details
Magnitogorsk Iron and Steel Works (MMK) took fifth place in the global 2019 Value Creators rankings among metals companies with the highest return on investment, compiled by international consulting company Boston Consulting Group. The rankings’ methodology is based on total shareholder return (TSR) generated in the past five years. Five-year TSR for MMK shareholders from…Details
According to Worldsteel, in January-May global steel output grew by 5.03% YoY, to 764.07 million tons. China is a traditional leader with 404.88 million tons, up by 10.19%. China’s share in the world output is 53%. Ukraine is still on the 13th place with 9.27 million tons produced, up by 6.9%. (Ukrainian metal)Details
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The employees of the Yuzhnodonbasskaya No. 1 mine and partially of the Mine named after Surgay have started striking because of non-payment of salary. The wage debt reaches 35 million UAH. The miners have blocked a highway. The Yuzhnodonbasskaya No. 1 miners have also suspended coal mining. (Ukrainian metal)Details
Aktyubinsk Copper Company has purchased new special machinery to develop the Vesenne-Aralchinskoye deposit. The batch comprises 7 dump trucks, 3 loaders and 2 drilling rigs. The lifting capacity of the loaders is 10 tons, and of the trucks – 20 tons. The deposit is situated both on the territory of Kazakhstan (southern part) and Russia…Details
In early 2021 Polyus Magadan will commission a new tailing dump at the Natalkinskoye deposit in Magadan region. The lifetime of the dump will be 19 years. It will be able to store 170 million cubic meters of rock. The new dump will be situated next to the current temporarily tailing dump in the Intrigan…Details
Cherepovets Iron and Steel Works is carrying out a program to replace cranes. Thus, a new Baltkran electric bridge crane No. 26 with the lifting capacity of 40 tons has been assembled in the metal treatment shop No. 2. Another 20-ton crane has been commissioned in the metal treatment shop No. 1. CherMK has also…Details
NLMK-Metiz has concluded an agreement to assemble a bell type furnace in the steel wire shop. The furnace will be used for the pelletizing of wire. The wire with the diameter of 1.2 to 6 mm is one of the most sought-after products of the company. Annually NLMK-Metiz produces some 30 thousand tons of thermally…Details
In case railroad transportation to the currently uncontrolled territories of Lugansk and Donetsk regions is resumed, Ukrzaliznytsia intends to have doubled the volumes of coal, iron ore and ferrous metals by 2030. According to the company strategy for 2019-2030, the export of ferrous metals will grow by 31.7% compared with 2018, to 21.809 million tons…Details