Precious metal prices varied in Azerbaijan on November 30, according to the data published by the Central Bank. The price of gold decreased by 0.153 manats, to 2,082.568 manats per ounce on November 30 compared to the price on November 29. The price of silver dropped by 0.057 manats, to 24.3678 manats per ounce. The…Details
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Industry and Trade Minister Denis Manturov met on November 29 with Russian producers of large-diameter pipes, who were dissatisfied with the procurement policy of Gazprom, sources close to the participants of the meeting reported. A source familiar with the results of the meeting said that the ministry agreed to organize a working group to discuss…Details
In October Russia produced 6.02 million tons of raw steel, up by 0.6% YoY (5.826 million tons in September). In January-October raw steel output totaled 60.294 million tons, up by 1.6% YoY. Ukraine, no longer a part of CIS, produced 1.917 million tons of steel, down by 6.7% YoY (1.787 million tons in September), and…Details
Magnitogorsk Iron and Steel Works (MMK) has successfully passed its second supervisory examination of energy management for compliance with the international standard ISO 50001, the certificate of conformity to which was first obtained in 2016. The audit was conducted by auditors of the certification body TUV Thuringen e.V. (Germany). The audit confirmed that the energy…Details
Anglo Asian Mining PLC expects gold production to be around 78,000-84,000 ounces in 2018 in Azerbaijan, President & CEO of the company Reza Vaziri declared. He said that it was expected 2018 production to be at top of the range. Vaziri said that the production was growing strongly, adding that the company commissioned a second…Details
Metalloinvest has signed an addendum to the loan agreement with ING Bank Eurasia. The bank has extended till November 2020 the terns of the loan in the volume of $200 million (or in euro equivalent). In January-September Metalloinvest increased net profit by 14.3% YoY, to $1.245 billion. Revenue grew by 17.3%, to $5.342 billion and…Details
The Russian government will buy up to 50,000 tons of aluminum or more from UC RUSAL if the company’s exports are hit with sanctions, Industry and Trade Minister Denis Manturov declared. Earlier the government signed a ruling to allocate up to 10 billion rubles for the Federal Agency for State Reserves to buy up to…Details
On November 26 Lvivugol received funds from the sale of coal. All the money was spent to pay salary to miners for October. Still, the funds were enough only to cover 10% of the salary. (Ukrainian metal)Details
Precious metal prices varied in Azerbaijan on November 29, according to the data published by the Central Bank. The price of gold increased by 17.6885 manats, to 2,082.721 manats per ounce on November 29 compared to the price on November 28. The price of silver grew by 0.3613 manats, to 24.4248 manats per ounce. The…Details
The company Ametistovoye has won an auction to use the Ivolga ore gold and silver deposits. The deposit is situated in Kamchatka close to the Ametistovoe Mining and Processing Works. The size of the Ivolga site is 206.38 square km. According to the auction documentation, the R2 resources are estimated at 9 tons of gold…Details
Zagorsky Pipe Works is starting a project to develop transport logistics of Moscow region. The project includes the commission of the new railroad line to connect two existing lines. The first line is from the plant o the Buzhaninovo station and the second from the Sergiev-Posad Glassware Works to the Naugolnaya station. The project will…Details
Metalloinvest has continued implementing its project to modernize Pellet Plant No. 3 (PP-3) at Mikhailovsky GOK. The first stage of modernization was carried out on PP-3’s operational design in order to increase the efficiency of pellet production from mixes of iron ore concentrates from Mikhailovsky GOK and Lebedinsky GOK. As a result, PP-3’s productivity grew…Details
Russian gold producer Polymetal International has consolidated 100% the Nezhdaninskoye in gold ore deposit, after buying an 82.3% stake from companies owned by businessman Ivan Kulakov, Polymetal said in a report on November 29. The purchase encompassed two deals: the acquisition of 7% for $8 million in cash under a deal announced on July 17,…Details