Severstal Steel Decisions is increasing its manufacturing capacities by purchasing a second Voortman V250 machine to drill plates. The new machine is purchased under an investment program to modernize the manufacturing site in Orel with the total cost of 100 million rubles. The Severstal Steel Decisions works is situated in the city of Orel at…Details
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In 2018 Nordgold net profit decreased by 45% YoY, to $91.9 million. EBITDA dropped by 10%, to $470.2 million. Revenue fell by 6%, to $1.143 billion. In Q4 2018 the company had a net loss of $17.3 million against $17.3 million of profit in Q3. EBITDA went up by 26%, to $124.7 million, and revenue…Details
Capital investment projects will become the main focus for the Metinvest group this year. “We have recently commissioned the continuous casting machine No. 4 at the Mariupol Ilyich Iron and Steel Works, but this is only the beginning of our large-scale investment program, as it allows us increasing our steel output by 1 million tons.…Details
On April 20, ArcelorMittal Kriviy Rih will shut down its largest blast furnace No. 9 for capital repairs. The work is scheduled to be completed in 45-48 days. The company will replace cooling plates of the furnace and the charging equipment, repair the shell, concrete spray the furnace and apply refractory concrete to the hearth.…Details
Pobuzhye Ferronickel Plant has overcome the negative personnel dynamics by increasing salary by 38% in H2 2018. “In December 2018 we hired 11 people more than resigned. The people started returning to the plant”, the company CEO Oleg Bespalov said. Earlier a part of the employees moved to the neighboring Poland to seek jobs. The…Details
In 2019 Asha Iron and Steel Works intends to increase output. In particular manufacture at the electric arc furnace shops Nos. 1 and 2 is to grow by 19% and by 5% YoY respectively, at the sheet-rolling shops Nos. 1 and 2 – by 4.1% and by 17%. While the sheet-rolling shop No. 3 has…Details
Metinvest has reached a preliminary agreement on the discount of 20% on the delivery of its cargo by railroad to the ports of Mariupol and Berdyansk. “The agreement was reached during the meeting in the Ministry of infrastructure. Ukrzaliznytsia showed its readiness to provide such a discount. The discount will cover metal products only”, Berdyansk…Details
The state enterprise Ukrpromvneshexpertisa forecasts that in April scrap stocks at metal companies will grow by 15.4% MoM, to 75 thousand tons. Scrap stocks as of the end of February dropped to 79 thousand tons, or by 55% MoM. Scrap stocks in working days fell to 9 days, or by 25% below the norm. The…Details
In 2018 Energomashspetsstal received 293.6 million UAH of net losses, down 3.2-fold YoY. The value of assets grew by 1.6%, or by 41 million UAH, to 4.1 billion UAH, while accounts receivable dropped by 7.5%, or by 30.8 million UAH, to 382.3 million UAH. Fixed liabilities decreased by 38.5%, or by 875.1 million UAH, to…Details
In January-February, the volume of production of raw and semi-processed gold or in powder form was 14,315 kg in Kazakhstan, up by 5% YoY, the Committee on Statistics of the Ministry of National Economy reported. In the reporting period, the volume of production of raw and semi-processed silver or in the form of powder amounted…Details
The Almalyk Mining and Metallurgical Complex (AMMC) has received the honorary “CIS Business Leader” award in 2018 at the International Economic Forum “CIS: Digital Economy – Integration Platform”. The event was organized by the CIS Economic Development Business Center with the support of the Executive Committee of the Commonwealth of Independent States. More than 1500…Details
Ukraine’s police are investigating two companies and a factory over a coal deal, which some anti-corruption campaigners say epitomizes the difficulties of doing business in the Eastern European country. The sums involved in the deal are small but the Anti-Corruption Action Center, an independent watchdog, says it illustrates the lack of transparency in Ukrainian business,…Details
Since the start of the year Korshunovsky Mining and Processing Works has invested 130 million rubles in the modernization of the manufacture. In particular, the enterprise has purchased a rod mill, two dredge pumps, and four magnetic separators. The new machines will improve ore processing and iron ore concentrate manufacture. In 2018 KGOK produced 1.972…Details