Polymetal has carried out the phase 3 of the project to expand and modernize Amur Hydrometallurgical Works. Investments totaled $71 million. The work was carried out due to the commissioning of the processing factory at the Kyzyl deposits (Kazakhstan) in June. The first gold-containing Kazakh concentrate was processed at Amur Works in October. It is…
DetailsOn November 19 ZEMZ put into operation a new site of Bosio thermal furnaces. The site has 5 thermal furnaces with the maximum temperature of up to 10 thousand degrees C. The furnaces will be used to heat rounds, squares and slabs. The average monthly output of each furnace will be 900 tons. (Ukrainian metal)
DetailsIn January-September Ukraine supplied 1.74 million tons of rolled metal and pipes to Russia, up by 28.4% YoY. Bars and sections accounted for some 55%, with 53% of them being rebars and wire rod. Bars and sections exports grew by 50%, and rebars and wire rod – almost 3-fold. Flat rolled metal exports increased by…
DetailsPrecious metal prices varied in Azerbaijan on November 20, according to the data published by the Central Bank. The price of gold increased by 4.471 manats, to 2,078.1055 manats per ounce on November 20 compared to the price on November 19. The price of silver grew by 0.0142 manats, to 24.4588 manats per ounce. The…
DetailsMagnitogorsk Iron and Steel Works’ (MMK) management decided to co-finance projects implemented by the residents of MMK Industrial Park to support and enhance business development in Magnitogorsk. Co-financing will be provided on a competitive basis to create new production or expand existing production. The share of co-financing will be up to 30% of the cost…
DetailsMagnitogorsk Iron and Steel Works’ (MMK) legal team, led by Chief Legal Officer Sergey Shepilov, has been named among best corporate counsels by Legal 500, an authoritative international legal publication. The Legal 500’s GC Powerlist: Russia Teams ranking includes Russia’s most influential and innovative corporate legal counsels. The ranking is made by leading market experts.…
DetailsEmployees of the Partyzanska Coal Mine in Antratsit (the town in Luhansk region occupied by Russian proxy forces), attempted to organize a strike demanding payment of wage arrears. A journalist and blogger Denis Kazansky, citing a wife of one of the strikers, described the details of the response of the self-styled “authorities”. “Our husbands went…
DetailsRussian metals producer Norilsk Nickel expects its capital expenditures to amount to $2.3-2.5 billion in 2019 and $2.3-2.6 billion a year in 2020-2022, the company said in a statement on November 19. In 2018 the capital expenditures will amount to $1.6-1.7 billion. Norilsk Nickel will spend $900 million – $1 billion on obligatory projects, including…
DetailsThe main mine fan produced at the Corum Druzhkovka Machine-building Works has been put into operation at the Ingulets Iron and Steel Works. The fan will be providing the enterprise with fresh air for at least 14 years. The new fan has replaced an older version, which has been operating for 25 years. It will…
DetailsIn January-October Kuzbass mined 151.7 million tons of power-generating coal and 60.1 million tons of coking coal. The combined increase was 5.2% YoY. The mines yielded 74.4 million tons of coal (72.3 million tons in 10 months of 2017) and pits – 137.4 million tons (129 million tons). In October Kuzbass mined 15 million tons…
DetailsIn January-October rolled metal output grew by 2% YoY, to 51.3 million tons. In October manufacture dropped by 1.5% YoY and by 0.4% MoM. According to the Federal Service of State Statistics, Russia produced 43.1 million tons of pig iron, on par with 10 months of 2017. In October output decreased by 3.4% YoY, but…
DetailsThe Russian Steel Association has decreased its forecast on steel consumption in Russia in 2018 to 1% from 2.6% in June. At the same time, for the first time since 2013 the dynamics of metal consumption stagnation has switched to the growth, which equaled to 5.1%. In 2016-2017 machine building was the main driver of…
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