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Russia: Grigory Fedorishin elected President of NLMK

NLMKBy admin13.03.2018Leave a comment

Shareholders of NLMK Group at its Extraordinary General Meeting held on March 12 voted to elect Grigory Fedorishin as the Group’s President and Chief Executive Officer (Chairman of the Management Board) for the period until June 8. Previously, NLMK Board of Directors resolved to convene the Annual General Shareholders’ Meeting on June 8, and also…

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Azerbaijan: gold price slightly down

precious metalsBy admin13.03.2018Leave a comment

The cost of gold decreased by 8.15 manats (0.36%), to 2242.3765 manats per troy ounce in Azerbaijan on March 13, according to the data published by the country’s Central Bank. The cost of silver decreased by 0.6%, to 28.0018 manats per ounce, the cost of platinum by 0.37%, to 1635.434 manats and the cost of…

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Russia: China to become co-investor of uranium mine

uraniumBy admin13.03.2018Leave a comment

The Russia-China Investment Fund for Regional Development on March 12 signed an agreement to become a co-investor of construction of a 18.5 billion ruble uranium mine of Priargunsky Industrial Mining and Chemical Union, part of state nuclear power corporation Rosatom’s unit Atomredmetzoloto. The company plans to launch the first stage of the mine in 2023.…

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Russia: Omchak preparing to launch operations

OmchakBy admin13.03.2018Leave a comment

The manufacturing complex of the gold-mining company Omchak is getting ready for operation. All the infrastructure has been prepared: roads, sites, electricity line and a settlement for 430 people. Omchak is expected to become one of the major mining companies in Zabaykalye region. The company obtained a right to develop and mine for ore gold…

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Russia: Chukotka gold and silver output down in January-February 2018

gold, silverBy admin13.03.2018Leave a comment

In January-February Chukotka Autonomous District obtained 3.425 tons of gold, down by 4% YoY. Silver output dropped by 13%, to 19.546 tons. In January gold output in the district decreased by 7.3%, and silver – by 20%. 2 Kinross Gold companies, a Polymetal Company, as well as Rudnik Karalveem LLC and Rudnik Valunisty LLC mine…

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Russia: BrAZ to spend 1.4 billion rubles on environment protection

Bratsk Aluminum WorksBy admin13.03.2018Leave a comment

Bratsk Aluminum Works intends to spend 1.4 billion rubles on environment protection this year. According to the company statement, last year the works used the same amount. In particular, in 2017 the company relocated citizens from the sanitary zone of the works. BrAZ invested 1.1 billion rubles in construction of 408 flats for 379 families.…

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Ukraine: UMCC output and sales up in 2017

United Mining and Chemical CompanyBy admin13.03.2018Leave a comment

In 2017 United Mining and Chemical Company produced 392.2 thousand tons of ilmenite concentrate, up by 18.7% YoY. In particular, Irshansk Mining and Processing Works produced 224.4 thousand tons. Sales last year grew by 20%, to 2.769 billion UAH. Volnogorsk Mining and Processing Works increased sales by 41%, to 124 thousand tons. At the same…

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Ukraine: Interpipe suffering from lack of employees

InterpipeBy admin13.03.2018Leave a comment

Interpipe reports the shortage of employees in the pipe and wheel manufacture, with the combined need at 600 people. “We already see financial losses due to the absence of the employees. We cannot make the full shift at our plant in Nikolayev. I estimate the losses because of the lack of employees at 5 thousand…

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Ukraine: coal exports up in January-February 2018

coalBy admin13.03.2018Leave a comment

In January-February Ukraine imported 4.015 million tons of coal, up by 63% YoY. According to the State Statistics Service, the cost of the coal imported was $516.656 million, up by 44.5%. Russia supplied $304.05 million worth of coal (or 58.85%), USA – $149.5098 million (28.94%), Canada – $48.365 (9.36%) and other countries – $14.733 million…

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Russia: TMK happy about Trump’s steel duties

TMKBy admin13.03.2018Leave a comment

Pipe Metal Company, the major pipe producer in Russia, is awaiting a positive effect for its American subsidiary IPSCO from the duties on steel and aluminum. “We believe that the duties imposed will positively affect IPSCO business, as the company does not import steel as raw materials. As to the other TMK companies, the estimation…

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Ukraine: Sukhaya Balka losses up in 2017

Sukhaya BalkaBy admin13.03.2018Leave a comment

In 2017 Sukhaya Balka received 1.174 billion UAH of losses, up 7.46-fold or by 1 billion UAH YoY. According to the company statement, its assets as of the end of 2017 totaled 2.454 billion UAH, current liabilities – 196.207 million UAH and the consolidated accounts receivable – 254.696 million UAH. On December 28, 2017 the…

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Ukraine: AMKR to increase salaries

ArcelorMittal Kriviy Rih ore mining and metallurgical worksBy admin13.03.2018Leave a comment

On the eve of the holidays Paramjit Kahlon, CEO of PJSC ArcelorMittal Kriviy Rih announced an increase in the salaries for the company employees. This was communicated at the proximity meeting attended by the company managers on March 7. The specialists of the company have already started to adjust the salaries within a grade so…

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Azerbaijan: price of precious metals jumps up

precious metalsBy admin13.03.2018Leave a comment

The cost of gold increased by 9.73 manats (0.4%), to 2250.528 manats per troy ounce in Azerbaijan on March 12, according to the data published by the country’s Central Bank. The cost of silver increased by 0.87%, to 27.178 manats per ounce, the cost of platinum by 1.4%, to 1641.571 manats and the cost of…

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Ukraine: IrGOK buys fuel

Irshansk Mining and Processing WorksBy admin13.03.2018Leave a comment

Irshansk Mining and Processing Works has ordered the Trading House Eco-Service LLC the delivery of fuel valued at 6.45 million UAH. Until the end of the year the company will have to supply 22 tons of AI-95-K5 Euro petrol at 39360 UAH per ton, 145 tons of A-92 Euro 5-E5 petrol at 37740 UAH per…

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Ukraine: Pavlogradugol machines destroyed in fire

DTEK PavlogradugolBy admin12.03.2018Leave a comment

The automobile base of Pavlogradugol caught fire. The fire has almost completely destroyed 17 automobiles. In particular, according to the emergency service message, 9 buses and 8 cars were destroyed. The fire covered the size of 900 square meters. There were no casualties. (Ukrainian metal)

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Russia: Raspadskaya starts using drones

RaspadskayaBy admin12.03.2018Leave a comment

Raspadskaya Coal Company has put 2 unmanned flying vehicles in operation. They will increase the safety and speed of mining operations, as well as the precision of calculations. During a 30-minute flight the drone can take 500 pictures. The maximum height of the quadrocopter filming is 500 meters. The new drones can operate under complex…

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Russia: SUMZ borrows 95 million euros from Sberbank

SUMZBy admin12.03.2018Leave a comment

Sberbank will provide the Sredneuralsky Copper Smelting Works with a multi-currency renewable limit on trade operations within the framework of the general agreement dated January 11. The minimum amount is 95 million euros. The money is provided until January 10, 2021. The limit of the loan is 22.77% of the company assets cost as of…

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