Precious metal prices increased in Azerbaijan on November 16, according to the data published by the Central Bank. The price of gold grew by 5.831 manats, to 2,066.4265 manats per ounce on November 16 compared to the price on November 15. The price of silver went up by 0.2569 manats, to 24.3513 manats per ounce.…Details
NLMK Group, an international steel company, is pleased to announce the appointment of Peter Georg Selbach as CEO of NLMK Belgium Holdings plate business, which includes two companies in Europe: NLMK Clabecq (Belgium) and NLMK Verona (Italy). Peter Selbach will succeed Cornelius Louwrens, who will be leaving the company before the end of 2018. Peter…Details
Polymetal has started the seasonal activity suspension at the heap leaching factory in Magadan region. The operation of the factory lasted for a month longer this year. Thus, the northernmost heap leaching site of Russia increased gold output in January-September by 189% YoY, to 308 kg. The preparation for the factory conservation will take some…Details
The city of Chelyabinsk hosted a traditional meeting of MMK and Chelyabinsk Pipe Works representatives. “MMK is our long-time and reliable supplier of metal. The share of MMK sheet in our orders is over 50% each year, and rolled coils – over 70%. Thus, the cooperation with the key partner is very important for us”,…Details
Baikal Mining Company and the Dalstroymekhanizatsia Company have signed an agreement to construct a road from the Novaya Chara station to the site of the Udokan mining and processing works. The new road with the length of over 17 km and the width of 6 meters will allow transporting 700 thousand tons of ore per…Details
Severstal – Bar Works Balakovo has completed a scheduled capital repair of machinery. The total cost of the work exceeded 80 million rubles. The specialists carried out repair in the electric arc, bar-rolling and machinery shops. “The main work focused on the restoration of the initial parameters of the machinery lost during operation. The repair…Details
The technique to use hot-briquetted iron in steel manufacture is being developed at Pervouralsky Pipe Works. According to the ChTPZ commercial director Denis Prikhodko, HBI will be purchased at Mikhailovsky and Lebedinsky Mining and Processing Works of Metalloinvest. “We have great prospects of cooperation with Metalloinvest”, he added. In particular, PNTZ intends to increase purchases…Details
The government of Kyrgyzstan wants to revise a strategic agreement with the Canadian company Centerra Gold Inc. on cooperation on Kumtor project, the Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziyev announced at a meeting of the Parliament. According to him, the current government is not satisfied with the terms of the agreement signed by the ex-Prime…Details
Because of the salary debts two miners from Lviv region have gone on a hunger strike. For three days they have been living in the conference hall of Lvivugol, sleeping on chairs and only drinking water. Their colleagues promise to join them and even block roads if they are not paid their due. According to…Details
Energomashspetsstal has signed an agreement for the delivery of back-up rolls to Mariupol Ilyich Iron and Steel Works. According to the contract, EMSS will produce 480 tons of rolls. There will be 4 rolls weighing 120 tons each. The shipping is scheduled for Q2-3 2019. The EMSS-produced rolls will be installed at the hot-rolling plate…Details
Magadan region can offer gold-extractors to additionally develop its non-ferrous metals deposits. Copper extraction is a promising business in the region. Its reserves are estimated at 44 million tons. The region also has some reserves of lead, tungsten and other non-ferrous metals. Copper could be exported, as it was not hit by the sanctions. (Ukrainian…Details
Rusal has received a permission from ING Bank to change the payment currency from dollars to euros on the loan attracted on April 6, when it fell under the US sanctions. ING is an agent on the loan under the pre-export financing agreement for $2 billion dated May 24, 2017. The term of Rusal annual…Details
In October NLMK-Ural received 186.3 thousand tons of scrap via railroad.
According to railroad statistics, this is up by 4.5% YoY.
In January-October scrap deliveries to NLMK-Ural grew by 3.3% YoY, to 1.47 million tons. (Ukrainian metal)
In October direct scrap deliveries to MMK totaled 283.5 thousand tons, down by 12.9% YoY.
According to the railroad statistics, in 10 months deliveries reached 1.65 million tons, up by 0.3% YoY.
Since 2012 the company has been a leader in scrap purchases via railroad. (Ukrainian metal)
The Service Company Severo-Zapadniy Pipe Works LLC (Saint Petersburg), earlier declared bankrupt, ceases existing. According to local mass media, the demolition of the premises has started. Earlier the land plot of 6.7 ha has been sold to Setl Group for housing construction. SZTZ used to produce water and gas pipeline pipes as well as hollow…Details
VSMPO-Avisma is preparing to commission two Bost vertical turning and boring machines. They are assembled in the shop No. 2 and will be used to process bulk parts – billets with the length of 5 meters and rings with the diameter of 4 meters. So far the shop had to sent bulk components to the…Details
The Magnitogorsk Iron and Steel Works’ (MMK) strategy for the coming years is further investment in the modernization of equipment in order to improve efficiency and reduce the environmental burden, according to MMK’s Head of Procurement and Marketing Evgeny Sarana. Speaking in Moscow at the 21st “Russian Metal Market” International Conference on November 12, he…Details
NLMK Group, an international steel company, announces the appointment of Shamil Kurmashov as NLMK Group CFO, effective from November 15. Kurmashov will be in charge of coordinating the work of financial departments across all NLMK Group companies, supporting the execution of the new strategic cycle of the group leading up to 2022, and driving the…Details
A significant increase has been recorded in gold mining due to the optimization of operational processes on the part of AzerGold CJSC, the company said in a statement. In particular, in the first ten months of 2018 the gold production amounted to 36,632 ounces, thereby exceeding the last year’s figures. In general, the AzerGold CJSC…Details
The head of Buryatia Alexei Tsaydenov has reviewed the construction of a plant at the Egitinskoye fluorspar deposits. In December 2017 Druza LLC and the republic government concluded an agreement on the development of the deposits. Investments total 18 billion rubles. The first stage of the plant has been completed. 619 jobs will be created.…Details
A number of foreign investors have shown their interest in constructing copper-smelting facilities. According to the acting Prime Minister Nicol Pashinyan, such a project is very important for the country, as it will allow processing ore on the spot, without exporting it. At the same time, the finished products could find their customers not only…Details
In January-September Vysochaishiy (GV Gold) received 10.03 billion rubles of revenue, up by 36% YoY. Sales revenue grew by 20.8%, to 4.075 billion rubles. Net profit was 2.3787 billion rubles, up by 2.4%. The increase in financial statements is due to the growth of gold output. In 9 months the company has produced 220.3 thousand…Details
In January-October Chukotka Autonomous District yielded 20998 kg of gold, down by 4% YoY.
Ore gold accounted for 18424 kg, down by 6%.
Alluvial gold output totaled 2573 kg, up by 11%.
Silver extraction dropped by 12%, to 96.6 tons. (Ukrainian metal)