In 2024 the government of Russia expects the gold output to increase by 12.3% compared to 2018 (287.3 tons). Such indexes are set in the strategy of the mineral and raw material base development until 2035. In 2024 gold output is expected to hit 322.6 tons. Thus, annually gold extraction has to increase by 6…Details
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Ural Mining Metallurgical Company (UMMC), one of the top Russian producers of copper, zinc and other precious metals, has signed a debut EUR 100-million syndicated loan. Mandated Lead Arrangers, Bookrunners and Lenders are Raiffeisen Bank International AG, AO Raiffeisenbank, PJSC Rosbank and Societe Generale. Raiffeisen Bank International AG and AO Raiffeisenbank acted as documentation agent…Details
UC RUSAL together with the Ministry of Health of the Russian Federation, announced the completion of the vaccination against the Ebola virus in the Republic of Guinea. Two thousand people have received the GamEvac-Combi vaccines during the testing program conducted in Guinea at the Scientific Diagnostic Center for Epidemiology and Microbiology (SDCEM). The center was…Details
In 2018 global pig iron manufacture grew by 2.79% YoY, to 1.323 billion tons. According to the World Steel Association, 1.239 billion tons were obtained via blast furnace manufacture, and 84.1 million tons – via direct reduction. China is still the best producer (771.05 million tons, up by 3.04%). The share of China in the…Details
MMK Trading House has opened a new standalone branch in Khabarovsk as part of plans to expand its presence on the Russian Far East metal market. The branch launched operations in January. This is the second MMK Trading House branch to open in the Russian Far East, following the opening of a branch in Vladivostok.…Details
Gold output of GV Gold rose by 36%, to 304,300 ounces in 2018 thanks to higher efficiency on all facilities and as the plants on Taryn and Ugakhan reached their design capacity, the company said in a statement on January 28. Sales grew by 37%, to 299,000 ounces with the average price amounting to $1,255…Details
The capacity of Russia’s Magnitogorsk Iron and Steel Works (MMK) decreased after a fire on a coal stoker on January 27, an official of the Emergency Situations Ministry reported. “We received a report of a fire on a coal stoker at 9:00 a.m. local time. The technological process was not disrupted, but the productive capacity…Details
Precious metal prices increased in Azerbaijan. The price of gold grew by 35.819 manats, to 2,215.304 manats per ounce on January 28 compared to the price on January 25. The price of silver went up by 0.7537 manats, to 26.8524 manats per ounce. The price of platinum increased by 24.905 manats, to 1,392.8525 manats, and…Details
Over the past year, mining of copper ore rose by 8.2% YoY, to 103.2 million tons. The country produced 12.9 million tons of copper concentrates (+15.7%), 4.8 million tons of copper-zinc ores (-4.2%), and 580.6 thousand tons of copper in copper concentrate (+15.5%). The main copper ore miners are East Kazakhstan (37% of the total…Details
The price of one ounce of gold increased by 1.173 manats or by 0.55% last week in Azerbaijan, to 2,178.1063 manats. The price of one ounce of silver grew by 0.0752 manats or by 0.29%, to 26.0282 manats. The price of one ounce of platinum went up by 8.3725 manats or by 0.62%, to 1,353.6862…Details
In January-November 2019 Russia exported 758.5 thousand tons of primary copper valued at $4830 million, up by 12.7% and by 19.3% YoY respectively. In November 2018 the price of primary copper was $5957 per ton, down by 9.2% YoY. The price of copper wire rod (wire) was $6083 per ton. (Ukrainian metal)Details
The special committee investigating the accident at Electrozinc has come to a conclusion, that the reason of the fire at the plant has been arson. The plant stopped operating after that. The reason of the arson and the person responsible are yet to be determined. The fire broke out on October 21, 2018. It enveloped…Details
Mechel reports launching an online store to market the company’s rolls. Mechel Service LLC’s online store offers a wide range of rolls, including over 40,000 articles in 49 categories such as flat and section rolls, pipes, hot- and cold-rolled products, hardware, stainless rolls and others. The store’s website is www.mechelservice.ru. The website also shows updated…Details