At a meeting held on March 1, NLMK Group’s Board of Directors recommended the company’s shareholders approve payment of Q4 2018 dividends of 5.80 rubles per share at the upcoming Annual General Shareholder Meeting (AGM), which would be held on April 19. This is equivalent to 100% of the company’s free cash flow based on…Details
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The European Bank for Reconstruction and Development is no longer a Centravis shareholder. “For 9 years we have been in partnership with the bank. It has provided us with financial assistance during the crises, as we have been under pressure. In 2018 we bought out its share. But thus we received experience of working with…Details
NLMK Group announces the launch of its new Strategy 2022 and changes to its dividend policy. Strategy 2022 targets net gains of +$1.25 billion to EBITDA per annum, with $0.5 billion from operational efficiency programs that require no additional capex. Strategy 2022 is based on enhancing NLMK Group’s competitive advantages. Through operational efficiency initiatives and…Details
Coal produced in Russia-occupied Donbas, Eastern Ukraine, is shipped not only to Russia but also to Turkey and countries in Europe, namely the European Union member states, without the latter’s knowing that, as shipping documents are falsified to show that the coal is of allegedly Russian origin. “This does not mean that these countries intentionally…Details
In 2019, Italy will become a new export destination for Azerbaijan’s Ganja Aluminum Plant, a source at the company reported. The source noted that presently, almost all of the plant’s production was exported. “The company’s products are exported to a number of European countries and the former USSR countries, and in the coming months, exports…Details
“Downgrading of the State Committee for Industry, Energy and Subsoil Use of Kyrgyzstan to an agency will bury the mining industry,” Chairman of the Mining and Metallurgical Trade Union Eldar Tadzhibaev declared. According to him, proposals on creation of an independent Ministry of Energy and the restoration of the State Agency for Geology and Mineral…Details
In January Russia produced 4.15 million tons of pig iron, down by 7.8% YoY (4.715 million tons in December 2018). Ukraine, no longer a part of CIS, decreased pig iron output by 9.6%, to 1.789 million tons (1.832 million tons). Kazakhstan produced 250 thousand tons of pig iron, down by 20.4% (260 thousand tons). All…Details
In 2019 Beringpromugol LLC plans to extract 750 thousand tons of coal in Chukotka. The company will be developing the Fandyushkinskoye field deposit. Last year the company received a license to prospect and extract at the Zapadniy site till September 2038, as well as prolonged its license for the Levoberezhniy site till 2038. In 2018…Details
On March 1 Belarus Iron and Steel Works put into operation a new machine to produce metal cord for bulk and extremely bulk tyres. The GCR machine was assembled in the steel wire shop No. 2. This is the only shop at the company to produce such a cord. It has improved strength because of…Details
The Uralelectromed powder shop has received a new Gecam mill. The mill processes the surface of wares made of copper powder. Previously wares were treated manually. The machine will do it 3-4 times faster and is expected to process some 20 to 30 thousand spare parts per month. (Ukrainian metal)Details
Ukrainian President Petro Poroshenko took part in the launch of a continuous casting machine No. 4 of the Mariupol Ilyich Iron and Steel Works. “I was pleased to learn that the company had a sharp increase in wages in the second half of 2018. And the average salary at the enterprise is UAH 18,000 ($670).…Details
Verkhovna Rada has approved as a whole the decree to decrease the ferrous scrap shortage on the domestic market by increasing the scrap export duty from 42 euro to 48 euro per ton and prolonging it for three years. 234 members of the Parliament voted in favor of the decree. This is the third decree.…Details
Cherepovets Iron and Steel Works has been smelting steel for 10 years. On March 1, 2009, the converter shop, electric arc furnace shop and limestone-dolomite shop were united into the steel-smelting manufacture. In 10 years the combined output of converter and electric steel exceeded 110 million tons. In 2018 the company produced 9.9 million tons.…Details