In January-September Vysochaishiy (GV Gold) received 10.03 billion rubles of revenue, up by 36% YoY. Sales revenue grew by 20.8%, to 4.075 billion rubles. Net profit was 2.3787 billion rubles, up by 2.4%. The increase in financial statements is due to the growth of gold output. In 9 months the company has produced 220.3 thousand…Details
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In January-October Chukotka Autonomous District yielded 20998 kg of gold, down by 4% YoY. Ore gold accounted for 18424 kg, down by 6%. Alluvial gold output totaled 2573 kg, up by 11%. Silver extraction dropped by 12%, to 96.6 tons. (Ukrainian metal)Details
Gazprom has signed a contract for the delivery of 500 thousand tons of large diameter pipe for the Kovykta – Chayanda site of the Sila Sibiri gas pipeline with Zagorsky Pipe Works. Other major pipe suppliers, including TMK and ChTPZ, refused to participate in the tender. They did not like the price, according to the…Details
The Russian Progress Gor Tech company can receive in trust the shares of Uzbekugol JSC. The draft presidential decree on measures to improve the effectiveness of the Uzbekugol joint-stock company has been published on the portal for discussion of draft legal and regulatory documents. The Uzbekistan Railways JSC will transfer 45% of shares in the…Details
The Radical party demands from the government and the Ministry of Economy and Trade to initiate a special investigation of the steel imports. The party members also want to introduce protective measures against the import from China, Russia, Turkey and other countries. Ferrous metals imports have already grown by 25%, threatening thousands of jobs in…Details
According to the Statistics Committee of the Ministry of the National Economy, in January-October raw steel output totaled 3.758 million tons. In October steel output grew by 2.8% YoY, to 0.389 million tons. Rolled metal manufacture in 10 months increased by 2.8%, to 2.377 million tons, but dropped in October by 13.1%, to 0.172 million…Details
The shares of Russia’s Polymetal International will be included in the MSCI Russia index on November 30 for the first time since their listing on the Moscow Exchange in June 2013, the company said in a statement. CEO Vitaly Nesis said, “I am proud that Polymetal has successfully met the criteria of MSCI Russia Index…Details
Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in the third quarter of 2018. In the first nine months KGC produced 306,467 ounces or 9,532.2 kg of gold and contributed more than 5.66 billion soms in taxes and mandatory payments. Kumtor produced 122,445 ounces, or 3.81 tons of…Details
Lviv region miners are striking against the delay in paying salary. Late on November 12 two miners of the state enterprise Lvivugol from the Mezhdurechenskaya and Stepnaya mines announced a hunger strike. They are striking at the Lvivugol premises in Sokal. The miners only drink water and refuse eating because of the non-payment of salary…Details
On November 12 Valentin Kiselev, the CEO of Lisichanskugol, signed his resignation letter. Kiselev has already removed his personal belongings form the CEO office. Earlier Lisichanskugol miners staged a strike demanding their salary debts of 170 million UAH to be cleared and the CEO fired. (Ukrainian metal)Details
Novokuznetsk Aluminum Plant expects the revenue at the level of 16.083 billion rubles in 2018. “By 2021 the revenue might have increased to 18 billion rubles”, the company managing director Victor Zhirnakov declared. In 2017 the company revenue was 14.206 billion rubles. Thus, this year the plant intends to increase it by 13%, and by…Details
In October direct deliveries of rolled steel to the major oil and gas companies of Russia, as well as to the construction sites of new projects in the sphere totaled 288.7 thousand tons. According to the railroad statistics, this is down by 39.3% YoY. In January-October deliveries reached 3.44 million tons, down by 16.7% YoY.…Details
According to Severstal, the growth of demand for steel on the local market in 2018 and until 2023 will be 1% due to the slow down of the economy. Earlier the company predicted a growth of 3-4%. The main reason for the decrease of demand is the drop in the construction sector, even though an…Details