Pavel Vasev, Head of Procurement at Magnitogorsk Iron and Steel Works (MMK), became the winner of the “Best Procurement Director” award for 2019. Large-scale changes in procurement activities carried out at MMK have significantly improved the efficiency of the company’s supply chain. This is the second year in a row that the rating of procurement…Details
In early March, Darasunsky Mine LLC put into operation its processing factory in Tungokochensky district of Zabaikalye region in test mode. The project to process Darasun ores is in the development. By Q3, the company plans to have commissioned the full cycle of processing. So far the factory has processed 3973 tons of ore and…Details
As of May 1, Magadan region has extracted 9065.1 kg of gold and 213.4 tons of silver. Gold output grew by 3404.3 kg YoY, while silver fell by 16.8 tons. Tenkinsky city district yielded the most ore gold – 6171.5 kg, while alluvial gold was extracted in Susuman, Yagodinsky and Tenkinsky districts. Omsuchanksy district was…Details
Kyshtym Electrolytic Copper Plant has assembled two bridge remote-controlled cranes in its copper foil shop, which is currently under construction.
The new machinery with the lifting capacity of 10 tons was produced by Verta.
When the two cranes are commissioned, the two old 5-ton cranes will be disassembled. (Ukrainian metal)
Severstal and the Italian company Tenaris will have started constructing the joint venture to produce welded pipes for oil and gas industry in Surgut by early 2020. The capacity will reach 300 thousand tons per year. The joint venture is expected to be created in 2 years. On May 13, the deal was approved by…Details
On May 16, the Dnepr District Administrative Court opened a case on the claim of ArcelorMittal Kriviy Rih to the Office of major taxpayers of the State Fiscal Service. The company wants to cancel the office decision obliging it to pay 114.6 million UAH of profit tax and 57.3 million UAH of fines. In February,…Details
On May 15, the Dnepr District Administrative Court opened a case on the Severniy Mining and Processing Works demanding the Office of major taxpayers of the State Fiscal Service to cancel its decision to increase income tax by 112.8 million UAH. Central GOK sues the office because of the tax increase by 106.1 million UAH.…Details
In January-February, Ukraine exported 2.71 million tons of metal, or 88% of all metal produced. In January-February 2018 the export share was 84.8% (2.64 million tons of 3.11 million tons produced). Semi-finished products accounted for 47.53% of exports, up from 43.19% last year. The share of flat rolled metal also grew – from 31.91% to…Details
Torex-Khabarovsk LLC, managing the Amurstal works, intends in 2020 to start modernization of the manufacture with investments at 7.5 billion rubles. The modernization is necessary due to the underloading of capacities by more than 50% because of the shortage of scrap. After modernization the works capacity will grow 3.3-fold, from 900 thousand tons per year…Details
In January-February, Ukrainian metal manufacturers sold 369 thousand tons to the domestic market. The share of the market in the output was 12%. In January-February 2018, domestic market received 470 thousand tons of metal, and the share was 15.2%. All in all, domestic market in 2 months received 555.9 thousand tons of rolled metal, including…Details
A mechanic-repairman has perished at Azovstal.
On May 17, he was replacing an electric engine on the third floor of the coke shop. As a result of a hit by an 8-meter long pipe he died.
The prosecutor’s office is investigating the accident. (Ukrainian metal)
In April, Ukraine exported 583.4 thousand tons of carbon steel semi-finished products, up by 8.2% MoM, valued at $225.04 million, up by 4.29%. According to the State Fiscal Service, in January-April exports totaled 2.38 million tons at $990 million. The share of semis in Ukraine’s exports reached 6.05%. Italy accounted for 30.6% of purchases, Egypt…Details
This year Ferrexpo intends to invest $300 million in its own development. According to the group owner Konstantin Zhevago, next year investments are planned on the level of $220 to $300 million, depending on the market situation. In 2018 Ferrexpo decreased net profit by 15% YoY, to $335.22 million, increasing its revenue by 6.4%, to…Details
This year Zimovichi intends to extract 150 kg of alluvial gold.
This volume is on par with the previous year output.
The company will be operating at three sites – in the Amunakit, Verkhnyaya Larba and Tynda river valleys.
The washing season has not started yet because of the low temperature. (Ukrainian metal)
In January-March, Seligdar revenue dropped by 12.3% YoY, to 18.83 million rubles, with gold sales revenue down by 61.7%, to 2.313 million rubles. Sales losses totaled 72.106 million rubles. This year the company fell to the gross loss of 3.62 million rubles from the gross profit of 4.25 million rubles in Q1 2018. The net…Details
Stangold LLC has started the washing season and intends to extract 60 kg of gold.
According to the company, output has remained unchanged since 2017.
Since 2011 the company has been annually developing the alluvial gold sites at the Verkhniy Sirik Brook.
Reserves are estimated at 96.8 kg of gold. (Ukrainian metal)
In January-March, TMK EBITDA grew by 9% YoY, to $175 million. According to the company statement, revenue dropped by 1%, to $12.57 billion, with gross profit up by 6%, to $235 million. Compared to Q4 2018, EBITDA fell by 2%, and revenue by 1%, while gross profit increased by 5%. As of March 31, the…Details
PJSC Magnitogorsk Iron and Steel Works’ (MMK) new hi-tech sinter plant, the second stage of which is scheduled for commissioning in the near future, is expected to add an additional c. $40 million to the company’s EBITDA per year. In addition to the increased productivity, the unit should significantly decrease MMK’s environmental impact. The news…Details
ArcelorMittal Kriviy Rih has completed modernization of the automation control system of Light Section Wire Rod Mill No. 250/150-6 in the Rolling Shop No. 3. There the company produces bar and coil rod with diameter from 5.5 up to 32 mm. The initial project price was estimated at UAH 48 million, but actual costs amounted…Details
Gold and silver prices decreased in Azerbaijan on May 20 compared to the prices of May 17. The price of gold dropped by 17.06 manats, to 2,169.9990 manats per ounce. The price of silver fell by 0.1755 manats, to 24.5466 manats per ounce. The price of platinum went down by 12.138 manats, to 1,400.0690 manats…Details
The price of one ounce of gold increased by 4.0375 manats or by 0.2% last week in Azerbaijan. The average price of one ounce of gold stood at 2,196.9814 manats. The price of one ounce of silver decreased by 0.2723 manats or by 1.1%, to 25.0384 manats. The price of one ounce of platinum dropped…Details
Russia’s second biggest lender VTB has raised the stake in Polymetal International plc to 5.15% from 0.16% as a result of a repo deal, the bank said.
The deal took place on May 14. (Prime/Ukrainian metal)
Antonov, the subsidiary of Ukroboronprom, has made amendments to the agreement with Dneprospetsstal on the purchase of metal products valued at 84.95 million UAH. In June 2015, Antonov ordered 8.9 tons of rods with the diameter of 16-140 mm made of heat-resistant stainless steel valued at 1.42 million UAH. In 4 years, the conditions of…Details
“The events at Kyzyl-Ompol were politicized. We know who is behind this,” the President of Kyrgyzstan Sooronbai Jeenbekov said at a meeting with the residents of Balykchy town. According to him, the organization of such a commotion at the time when preparations for the tourist season were underway could be assessed as malicious action aimed…Details