From May 1, ArcelorMittal Kriviy Rih intends to increase wages of its employees by 15-20%. 2018 was a difficult year for the company, as a roof of the converter shop caved-in, the blast furnace No. 9 reconstruction took longer than planned and difficulties with logistics resulted in a 22% drop in steel output. Moreover, the…Details
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Seligdar has made a decision to construct a gold-extracting factory at the Khvoynoye deposit in the Republic of Sakha (Yakutia). The factory using the technique of direct cyanidation will increase gold extraction by 20% compared with heap leaching. While heap leaching allows extracting 75% of gold, cyanidation will increase this level to 90%. The technique…Details
The Western Court of Appeals has left unchanged the ruling of the Commercial Court of the Lviv region dated May 24, 2018, on the opening of proceedings on the bankruptcy of the Lviv Coal Company. The corresponding claim was filed by Alfa-Bank demanding the return of 11.16 million UAH. The state represented by the regional…Details
The reserves and ore content of the Kadzharan copper-molybdenum deposit have to be reevaluated. According to the Ministry of Environment, last time the reserves were evaluated in 2006. Zangezursky Copper-Molybdenum Works, which is developing the deposit, has not been keeping the annual registry of condition and movement of natural resources. In 2014-2017 the company was…Details
According to Chelyabinsk Zinc Works commercial department director Alexander Pechenkin, in 2018 the zinc shortage on world market in 2018 was some 348 thousand tons. Its reserves dropped by 143 thousand tons, to 880 thousand tons. This year, compared with 2016, the forecast growth of zinc consumption in Russia will reach 20%. The zinc shortage…Details
Russia has asked the World Trade Organization (WTO) to form an arbiter panel in its dispute with the E.U. on the union’s anti-dumping duty on cold-rolled steel imports, the Economic Development Ministry said. The duties, introduced in 2016, amount to 18.7% for products of Magnitogorsk Iron and Steel Works (MMK), to 34% for Severstal, and…Details
Crispian Investments, owned by tycoon Roman Abramovich and his partners, has no plans to sell more shares in Russian metals giant Norilsk Nickel, Crispian’s co-owner Alexander Abramov said. On March 12, a financial market source said that Crispian offered a 1.7% stake in Norilsk Nickel for about $560 million, or about 13,450 rubles per share.…Details
In 2018 Russia exported 109.2 thousand tons of corrosion-resistant steel scrap valued at $120 million, up by 0.7% and by 13% YoY respectively. This is also the highest result in 10 and 6 years respectively. Scrap with nickel contents of 8% and more accounted for some 75% of exports. (Ukrainian metal)Details
In 2018 Russia imported 309.5 thousand tons of flat corrosion-resistant steel valued at $712 million, up by 10.5% and by 17% YoY respectively. This is also the highest result in the past 10 years. Sheet with the width of 600+ mm accounts for some 90% of imports. The main supplier was China (51%), which increased…Details
The Ministry of Industry and Trade intends to hold a number of meetings with the management of the major metal companies to discuss a potential embargo on the steel scrap export. According to a ministry representative, the issue has to do with the trend to limit the export of scrap as a product of the…Details
In 2018 Metalloinvest received 1.647 billion rubles of net profit, up by 17.1% YoY. Revenue grew by 15.3%, to 7.187 billion rubles. The output of pellets and hot-briquetted iron reached 27.7 million and 7.8 million tons respectively. EBITDA went up by 38.4%. (Ukrainian metal)Details
In January-February Ukraine mined 5.1 million tons of coal, down by 4.4% YoY. According to the Ministry of Energy and Coal Industry, coking coal output dropped by 18.1%, to 872.8 thousand tons, and energy-generating coal – by 1%, to 4.23 million tons. In February coal mining went down by 7%, to 2.49 million tons. Enterprises…Details