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Kinross Gold has finalized the deal to purchase a project to develop the Chulbatkan deposit in Khabarovsk region from N-Mining Limited fir $283 million. The ore will be processed by ways of heap leaching. This year Kinross will invest some $10 million in prospective drilling. Estimated reserves of the deposit are 3.9 million ounces of…
DetailsRussian metals and mining group Mechel has decided not to exercise its preemptive right to buy a 49% stake in the Elga coal deposit from Gazprombank and may also sell its 51% stake in the project. Gazprombank said in August 2019 that it had received an offer of purchase of a 49% stake in the…
DetailsThe critical situation at the Mine named after Saint Matrona has been discussed in Donetsk region. Representatives of the trade unions met with the authorities of Toretsk town. The wage arrears, electricity provision as well as future operation of the enterprise have been discussed. The mine employs 457 people. For the past two months no…
DetailsIn 2019 ArcelorMittal Kriviy Rih increased rolled metal output by 11.2% YoY, to 4.7 million tons. Steel manufacture grew by 11.8%, to 5.3 million tons, and pig iron – by 14.9%, to 5.3 million tons. Moreover the company increased sinter manufacture by 14.3%, to 9.8 million tons, iron ore concentrate – by 5.8%, to 9.8…
DetailsIn 2019 Electrostal decreased continuous-cast billet output 3.5-fold YoY, to 83 thousand tons. In December 2019 the company produced 7 thousand tons of billets, in November 2019 – 3 thousand tons and in September 2019 – 1 thousand tons. In January-March 2019 Electrostal did not operate, but then partially resumed operation, working at one third…
DetailsThe Verkhovna Rada has approved at the second reading and as a whole the draft decree No. 1210, which increases the rent for mining iron ore. 283 members voted in favor of the decree. The document presupposes different rate depending on the ore price. Thus, if the price is below $70 per ton, the rate…
DetailsIn 2 months of operation the previously shut down Southern bay of the pressure shop has processed over 2300 tons of rolled metal. The bay was shut down in March 2018 because of the low loading. In 2019 it was decided to resume the operation of the Southern bay, and in November 2019 it started…
DetailsZlatoust Electrometallurgical Works has been named a leader of the stainless steel shapes and bars manufacture in Russia in January-November 2019. According to the Spetsstal Association, Russia produced 51.99 thousand tons of rolled stainless steel. ZEMZ’s share was 41%. The company has increased output by 9% YoY, to 21.5 thousand tons. (Ukrainian metal)
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