Russia: OEMK starts assembling machinery of the rolled metal thermal treatment site

Oskol Electrometallurgical Works is constructing a site of rolled metal thermal treatment with the annual capacity of 70 thousand tons. The company specialists have started assembling the main machinery; the first section of the first furnace has already been assembled. It is expected that the first rods will be thermally treated in late 2019 –…

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Ukraine: Pokrovskaya mine hit by fire

Early on March 27 a fire broke out at the ventilation drift of the Pokrovskaya mine of the Pokrovskoye Mine Group in Donetsk region.

29 miners were evacuated.

The fire broke out at the depth of 815 meters.

There were no casualties. (Ukrainian metal)

Russia: Rusal given BB- Stable rating by Fitch

The international ratings agency Fitch Ratings has granted Rusal the long-term rating of BB- with the stable outlook. Rusal has been operating successfully even under US sanctions. Moreover their impact was limited and their implementation had been several times postponed, thus the company did not feel the overall impact of the sanctions, Fitch said. (Ukrainian…

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Russia: KGOK net profit down in 2018

In 2018 Korshunovsky Mining and Processing Works decreased net profit more than 2-fold YoY, to 2.33 billion rubles.

In 2017 net profit exceeded 4.7 billion rubles.

Last year revenue dropped by 13%, to 9.99 billion rubles.

Sales profit fell to 330 million rubles from 2.2 billion rubles in 2017. (Ukrainian metal)