PM Nikol Pashinyan has presented details surrounding the existing situation at the Teghut Copper and Molybdenum Mine (Lori province) and the Alaverdi Copper Smelting Plant. Speaking in parliament, the PM presented how the situation developed in the first place. According to Pashinyan, the VTB Bank lent $380 million to the Teghut mine and Vallex Group,…Details
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From April 2017 until December 31, 2018, AzerGold CJSC sold non-ferrous metals worth 220 million manats, Zakir Ibrahimov, chairman of the board of AzerGold CJSC, said at the first plenary meeting as part of the project “Application of a roadmap for disclosing information about beneficiaries in the mining industry of Azerbaijan”. Ibrahimov noted that the…Details
The State Service of Geology and Subsoil Use has sold at the auction the special allowance to develop a nickel deposit to Tsvetmet Ukrainy LLC for 10.54 million UAH. This is the Prutovskoye site with sulfide-copper-nickel ores with the size of 15 square km in Zhitomir region. The initial cost of the allowance was 9.74…Details
In 2018, the volume of sales of metal products of ArcelorMittal Kriviy Rih made 4.5 million tons, with finished products accounting for 65% (rebar, wire rod and sections). The share of square billets decreased by 2%, from 29% to 27%, while hot metal share increased to 9% (+2%). In 2018, customers from 62 countries purchased…Details
The prices of precious metals increased in Azerbaijan on February 13. The price of gold grew by 8.1175 manats, to 2,232.4995 manats per ounce compared to the price on February 12. The price of silver went up by 0.0045 manats, to 26.7607 manats per ounce. The price of platinum increased by 5.1 manats to 1,345.448…Details
In 2018 the ChTPZ pipes enterprises – Chelyabinsk Pipe-Rolling Works and Pervouralsky Novotrubniy Works – sold 1.92 million tons of pipes, down by 3.7% YoY. The decrease is due to the completion of large diameter pipes deliveries for the Nord Stream-2 construction. Deliveries to the Russian market grew by 1.2%, to 1.42 million tons, including…Details
In December Tashkent Iron and Steel Works will produce its first cold-rolled sheet. The total cost of the project is 286 million euros. The main machinery will be supplied by Danieli, Italy. The company capacity will be 500 thousand tons of cold-rolled metal per year. The capacity will be reached in 2 years. The share…Details
This year Severstal will invest 56.6 billion rubles in the development of the Cherepovets Iron and Steel Works and other Severstal Russian Steel manufacturing assets. Some 75% of the funds, or 42.7 billion rubles, will account for development projects. The largest of them are the construction of a new blast furnace No. 3 “Cherepovchanka” and…Details
In 2018 Bratsk Ferroalloys Works increased ferrosilicon sales by 10% YoY, to 76 thousand tons. In particular, ferrosilicon FS 65 accounted for 54 thousand tons and FS 65 – 22 thousand tons. The main customers of the company are Mechel enterprises and Japanese companies. (Ukrainian metal)Details
In 2018 Chelyabinsk Zinc Works received 32 billion rubles of revenue, with net profit at 1.8 billion rubles. “This is slightly below the 2017 level, as a part of the profit has been spent on the construction of the Korbalikhinskiy mine (3 billion rubles). Thus, the profit could have been some 5 billion rubles”, the…Details
On February 12, Moody’s rating agency upgraded MMK’s Issuer Rating to Baa2 from Baa3 with Stable Outlook. This action followed a sovereign rating action on the government of Russia, which took place on February 8, when Moody’s upgraded Russia’s long-term issuer and senior unsecured debt ratings to Baa3 from Ba1 and changed the outlook on…Details
International rating agency Moody’s has upgraded NLMK Group’s long-term credit rating from Baa3 to Вaа2 with a stable outlook (both are investment grade). The decision follows a rating action to upgrade Russia’s sovereign rating, which took place on February 8. Shamil Kurmashov, NLMK Group CFO, said: “We welcome Moody’s decision to upgrade NLMK’s rating. This…Details
World Class Manufacturing system (WCM) used in most of ArcelorMittal’s units will be implemented in all shops and departments of ArcelorMittal Kriviy Rih from 2019. WCM system is based on two main principles that are continuous improvements and losses elimination that give the company a number of advantages in innovation, quality, price, flexibility, delivery performance,…Details