The gold output of Petropavlovsk Plc, which operates gold deposits in Russia, decreased by 4.4% YoY, to 107,700 ounces, or 3.35 tons, in January-March, the company said. Petropavlovsk still plans to raise gold production to 450,000-500,000 ounces in 2019 from 422,300 ounces produced in 2018. The total cash costs may also rise to $850-950 per…Details
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Government of Kyrgyzstan has not yet decided what will happen to the uranium deposit, the Prime Minister Mukhammedkaly Abylgaziev announced at the meeting of the Parliament. Deputy Kamchybek Zholdoshbaev asked what would happen to the uranium deposit in Issyk-Kul region. Mukhammedkaly Abylgaziev noted that incorrect information about uranium was disseminated. “YurAsia company was registered in…Details
From April 1, Interpipe has increased the wages of its industrial personnel by 20% on average. On April 22, the employees received an advance payment with the increase. “Interpipe is one of the largest employers in the region. At our enterprises in Dnepr, Nikolaev and Novomoskovsk we employ 12 thousand people. All the salary is…Details
Sumgait Technologies Park (STP) has launched the supply of aluminum sections to Poland. This is the first export of aluminum profiles to Poland in the history of Azerbaijan. Negotiations on sales started in January and test products were sent to the customer company in late March. The customer originally ordered 20 tons of products as…Details
In January-March, TMK sold 966 thousand tons of pipes, down by 2% YoY and by 4% QoQ. The negative dynamics was mostly caused by the drop in sales in the American division. At the same time OCTG pipes sales increased by 4% YoY, to 481 thousand tons. This year TMK expects pipe consumption by Russian…Details
In January-March, Bratsk Ferroalloys Works increased exports by 30% YoY. The company was shipping ferrosilicon 75. The main suppliers were Japanese companies that used Bratsk ferroalloys to produce steel. The company does not disclose export volumes. In 2018 BZF exported 76 thousand tons of ferrosilicon, up by 10.1% YoY, including 54 thousand tons of FS65…Details
The Ministry of Industry and Geology of the Republic of Sakha (Yakutia) has set a monthly gold and silver output plan for the year. Until the end of the year the region has to extract 28.8 tons of gold (29.5 tons in 2018). In particular, the Aldansk district is expected to yield 12.4 tons of…Details
Magnitogorsk Iron and Steel Works (MMK) invested over 58 billion rubles in environmental activities in 2000-2018, including 9 billion rubles in the last year alone, according to the company’s environmental report, published on its official website. The report was prepared in order to inform all stakeholders about the company’s efforts in the field of environmental…Details
Dependence on Kumtor is a big mistake of the past governments of Kyrgyzstan, Prime Minister of Kyrgyzstan Mukhammedkaly Abylgaziev stated at a meeting of the Parliament on April 24. According to him, Kumtor has been playing a historical role in the development of the country’s economy for 20 years. “Government thinks about a harm when…Details
Russian aluminum giant UC RUSAL wants to buy one of Gazprom Energoholding’s hydropower plants in the Murmansk region in an attempt to reduce the cost of power supplied to its low margin aluminum plant in the town of Kandalaksha. RUSAL CEO Yevgeny Nikitin sent a letter to the region’s governor Andrei Chibis with a proposal…Details
At least 23,256 people have signed the petition against a project on development of uranium deposit in Issyk-Kul region according to data as of April 23. Collection of signatures continues. Last weekend, social network users began collecting signatures against the project on development of Tash-Bulak uranium deposit. The author of the petition was Alena Khomenko.…Details
In the first quarter of this year, the production of crude steel in Kazakhstan decreased by 2.7% YoY, to 1.1 million tons. Karaganda region provided 965,000 tons or 85% of the total production, down by 3.7%. Within a general decline in the production of crude steel, the production of unalloyed steel decreased by 2.7%, while…Details
In 2018 Khabarovsk region yielded 24.8 tons of gold, up by 7% YoY. Tin output grew 1.5-fold, to 1.5 thousand tons. Mining companies paid 6.97 billion rubles of taxes to the regional budget, up by 9%. Investments in the industry totaled 22.2 billion rubles. This year the region intends to produce 24.9 tons of gold,…Details