This year Geologorazvedochnaya Ekspeditsia No. 324 LLC intends to extract 120 kg of alluvial gold, down by 20% YoY. “Last year we did not reach our output target. Because of the bad weather we extracted only 65 kg at two sites – Sazhenka and Shirokiy Brook – instead of 150 kg that we planned”, the…Details
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In Q1 Pobuzhye Ferronickel Plant completed the campaign to repair its main machinery, planned for the current year. “We have replaced lining at the tube-type rotary kiln No. 1 and the dome of the ore-thermal furnace No. 1. For the first time in 7 years. We hope it will operate for some 5-6 years more”,…Details
ArcelorMittal Kriviy Rih, the largest mining and steelmaking company in Ukraine, the railway tracks of which are above 600 kilometers long, improved its average wagons turnover by 35% MoM, having decreased it from 168 to 109 hours. Improvement of KPI on acceptance, processing and dispatch of wagons with cargoes was possible owing to a significant…Details
Russia’s Otkritie Financial Corporation (FC) Bank has signed an agreement to open a 21-billion ruble 10-year loan to Ural Mining and Metallurgical Company (UMMC-Holding) for construction of an underground mine at the Yubileinoye copper field, the bank said in a statement on March 25. “Bank Otkritie will issue a 21-billion ruble loan to UMMC-Holding for…Details
The shares of the pipe producer TMK rose by 11.49%, to 61.54 rubles as of 11:00 a.m., Moscow time on March 25, after an announcement of sale of a U.S. subsidiary IPSCO Tubulars to Tenaris for $1.209 billion on March 22, according to the Moscow Exchange. TMK rose by 25.17% to a peak of 59.08…Details
The US company Epsilon Development in partnership with the Austrian company Oberhofer Projektmanagement GmbH will invest 100 million euros in the construction of a new plant in the Angren free economic zone in Uzbekistan. The companies have already created a foreign enterprise “Steel Innovation Systems” to implement this project. “The new plant will be engaged…Details
A miner was killed in an accident at one of the mines located in Ukraine’s western Lviv region, a local council member Ihor Zinkevych reported. The official said the tragedy occurred at the Nadiia Mine in the village of Selets, Sokal district. The miner died as a result of a cave-in some 500 meters below…Details
Illegal business activity during development of alluvial gold deposits was revealed in Toktogul district of Jalal-Abad region of Kyrgyzstan, the State Service for Combating Economic Crimes reported. According to it, the State Committee for Industry, Energy and Subsoil Use banned alluvial gold mining operations before submitting a temporary certificate for the right to use the…Details
Shelekhov town bailiffs (Irkutsk region) have recovered 35.6 million rubles from an aluminum works. The regional prosecutor has filed a claim against a local plant (Irkutsk Aluminum Works) to recover damages to the soil as a result of the filtrate spilled outside the waste landfill as well as on the forest territory. The Shelekhov town…Details
The price of one ounce of gold increased by 13.3195 manats or by 0.6% last week in Azerbaijan. Accordingly, the average price of one ounce of gold stood at 2,216.47275 manats. The price of one ounce of silver grew by 0.1779 manats or by 0.7%, to 26.1769 manats. The price of one ounce of platinum…Details
In 2018 the Amur miners team, developing the Konder platinum deposit in Khabarovsk region, received 467.5 million rubles of revenue, down 6-fold YoY. The net loss was 2.436 billion rubles, down 3.7-fold. Last year the enterprise extracted 238.3 kg of platinum as opposed to 1.275 kg in 2017. The decrease in the output has to…Details
Chelyabvtormet could not resume its permit for air pollution suspended by the regional environment service. The permit was suspended in November 2018. In December 2018 the regional governor Boris Dubrovsky demanded the casting shop of the company to be closed down because of the extensive air pollution. While the company is permitted to process ferrous…Details
In H1 Zagorsky Pipe Works intends to reach the debt to EBITDA ration of 1.0. The company’s main customer is Gazprom. At present ZTZ has orders for 2 years. Almost all orders have been concluded with Gazprom. The latest was for the delivery of 500 thousand tons of large diameter pipes for a Sila Sibiri…Details