KAZ Minerals company reduced the cost of the expected Aktogay copper mine project in Kazakhstan by $100 million to $2.2 billion, the company reported. “The project has benefited from the experience gained at Bozshakol mine project and from the use of local contractors following the 2015 tenge devaluation”, the company’s message said. The lowered budget…Details
Metalloinvest has redeemed its debut eurobond issue. The eurobonds for a nominal amount of $750 million were issued on the London Stock Exchange in 2011 with a five-year maturity period and an annual coupon rate of 6.5%. The redemption of the debut Eurobond issue and coupon payments were executed in full and in accordance with…Details
Throughput of Rosterminalugol in 2016 has reached 9 million tons year-to-date, the company’s press release says. The milestone ton was loaded on July 20. Rosterminalugol was established in 1996 to build and operate the coal terminal at Port of Ust-Luga. The company specializes in loading / unloading operations, freight forwarding services, building and maintenance of…Details
Azovstal Iron and Steel Works plans to have completed the construction of pulverized coal injection plant (PCI) by the end of this year and phase out natural gas for ironmaking. Pre-assembly of PCI steel structures is currently in progress. Metinvest Engineering, LLC acts as the General Contractor and the General Designer in this project. The…Details
Poltava Mining and Processing Works has decreased gas consumption by 33%, or by 5 million cubic meters, to 10 million cubic meters.
According to the company chairman Victor Lotous, PGOK used sunflower seed husks instead of gas to make pellets. This allows the company to save some 50-60 million UAH annually. (Ukrainian metal)
In June Nikopol Ferroalloy Plant produced 51 thousand tons of silicomanganese, down by 17.3% MoM, or by 10.7 thousand tons, to 51 thousand tons. According to the Association of Ukrainian Ferroalloy Producers, its ferromanganese output dropped by 45.8% MoM, or by 2.7 thousand tons, to 3.1 thousand tons. In January-June NZF produced 334.5 thousand tons…Details
In June Zaporozhye Ferro Alloys Plant produced 24.5 thousand tons of ferroalloys, down by 1.2% MoM, or by 0.3 thousand tons.
According to the Association of Ukrainian Ferroalloy Producers, in January-June ZZF decreased ferroalloys output by 12% YoY, or by 18.5 thousand tons, to 135.1 thousand tons. (Ukrainian metal)
The preparation to put the second section of Avdiivka Coke and Chemical Works into operation, started on July 21, was stopped because of another shelling. On July 21, the company CEO Musa Magomedov informed that 2 damaged electricity lines were repaired. This allowed Avdiivka Coke to start preparing the second section of the works for…Details
In June Ukraine exported $146.95 million worth of long rolled metal, while imports reached $12.3 million.
According to the State Fiscal Service, the main importer of long rolled metal in June was Russia ($23.78 million).
In January-June long rolled exports totaled $821.4 million, with imports on the level of $68.41 million. (Ukrainian metal)
Supervisory board of Zaporozhogneupor has given its preliminary consent to buy magnesite and graphite valued at 142.5 million UAH from Minmetals Japan Corporation.
The corresponding decision was taken on July 15. (Ukrainian metal)
Metinvest reports on difficulties working on the Customs Union market due to the cancellation of zero duties on Ukrainian metal products. “Even where there is no antidumping duties we have to pay 5% import duties. This makes it harder to work, but still we have a strong distribution trade company in Russia and Belarus. We…Details
Highland Fund, a consortium established by prominent Chinese investment funds and corporations, made payment for a share in the joint venture set up together with Norilsk Nickel to develop Bystrinsky project in compliance with the signed agreement. The payment has been made after the Russian government Commission on Monitoring Foreign Investment had approved acquisition of…Details
In June Ukraine produced 1830 thousand tons of steel, down by 20.7% MoM, or by 477 thousand tons.
In January-June steel manufacture went up by 10.4% YoY, or by 1168 thousand tons, to 12417 thousand tons. (Ukrainian metal)
The head of the so-called Donetsk People’s Republic Zakharchenko has decided to temporarily administrate the Donetsk Electrometallurgical Plant and create Yuzovka Iron and Steel Works on its basis, with all DEMZ assets given to the new company. Now Mechel faces the risk of losing control over DEMZ. The company is studying the situation and will…Details
Supervisory board of the Metinvest group has appointed Julia Dankova the financial director.
Previously Dankova was the acting financial director. Alexei Kutepov, financial director since August 2013, resigned in winter 2016. (Ukrainian metal)
Poltava Mining and Processing Works believes that Germany, Austria, South Korea and Japan are its priority sales markets.
According to the company chairman Victor Lotous, it plans to sell 65% Fe content pellets there. Last year PGOK exported 11494 thousand tons of iron ore pellets. (Ukrainian metal)
In June Ukraine produced 921 thousand tons of 6% moisture bulk coke, down by 18.6% MoM, or by 210 thousand tons.
In January-June coke output increased by 23.4% YoY, or by 1255 thousand tons, to 6496 thousand tons. (Ukrainian metal)
The Kiev Commercial Court of Appeals has refused to review the lawsuit on the return of the Zaporozhye Aluminum Works to the state ownership. The court has left without satisfaction the claim of Velbay Holdings Limited (Cyprus) to review the decision of the Kiev Commercial Court of March 22, 2012, due to the new conditions.…Details
The repairing team of DTEK has restored two of the four electric lines feeding Avdiivka Coke and Chemical Works. Because of the military activities 2 of the 4 lines were cut on June 8 and 29, and the remaining 2 lines – on July 20. From that day the company worked on its own generators.…Details
As of July 12, importers of the 406.4 mm diameter seamless casing pipes to Ukraine used 87.04% of the quota. According to the Ministry of economical development and trade the quota from October 1, 2015 till September 30, 2016 totals 19505 tons. So far licenses for the amount of 17031 tons of have been given,…Details
In June Ukraine produced 6336 thousand tons of iron ore and concentrate, down by 3.3% MoM, or by 215 thousand tons. In particular, iron ore output dropped by 2.8% MoM, or by 31 thousand tons, to 1080 thousand tons, while that of concentrate – by 3.4%, or by 184 thousand tons, to 5256 thousand tons.…Details
Poltava Mining and Processing Works plans to invest some $50 million into development.
In 2015 the company had to stop its investment program as to the capacity increase, with the cost of maintenance projects being $50 million. This year PGOK intends to keep its investments on the level of 2015. (Ukrainian metal)
In June Ukraine produced 1765 thousand tons of pig iron, down by 21.4% MoM, or by 481 thousand tons.
In January-June pig iron output increased by 17% YoY, or by 1731 thousand tons, to 11927 thousand tons. (Ukrainian metal)