Russia: Udokan first stage approved by Nature Agency

The department of the Russian Natural Surveillance Agency in Zabaikalye region has approved the state environmental expertise of the design documentation of the “Udokan Mining and Processing Works. First Stage” project. The first stage of construction envisages the manufacture of 12 million tons of ore per year. According to the expertise, Udokan fully meets all…

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Uzbekistan: Almalyk Mining and Metallurgical Combine left with full profit

The Ministry of Finance and the State Committee of Uzbekistan on Privatization, Demonopolization and Development of Competition left the Almalyk Mining and Metallurgical Combine with full net profit for 2017. Last year the combine earned 124 billion soums of net profit. Of this money, 88.2% (state share) – 109.4 billion soums – were decided to…

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Russia: UMMC attracts syndicated loan

Ural Mining and Metallurgical Company has attracted a debut syndicated loan of EUR 100 million. The loan has been provided by a pool of European banks: Raiffaisen Bank International AG, Raiffaisenbank, Rosbank and Societe Generale. The 3-year loan is structured as a classical re-export financing secured by the future supplies of copper and other export…

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