Gold output of GV Gold rose by 37% YoY, to 224,500 ounces in 2017, or 5% above the plan due to the launch of the Drazhnoye and Ugakhan deposits and a new dredging unit at the Bolshoi Kuranakh mine, the company said in a statement on February 5. The capacity of company’s processing facilities increased…Details
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The residents of Talas region have no claims against development of Jerooy, the Government’s Authorized Representative in the region, Marat Murataliev, declared at a press conference on February 5. According to him, the people agree that the field should work. “170 million soms have been transferred to the regional and district funds. A mini football…Details
The state commission has put into operation a new long face at the Zapadno-Donbasskaya mine. This is the second long face commissioned at the Ternovka Mine Group this year. It will provide the miners with work until April 2019, allowing them to obtain 800 thousand tons of coal. The length of the long face is…Details
The Federal Antimonopoly Service has allowed Vysochaishiy to purchase 100% of the Mineraly Kamchatki LLC, which manages gold-extracting assets of Renova. The company manages Zoloto Kamchatki, Interminerals Management LLC, Kamchatka Copper Company LLC, Kamchatskoye Zoloto, Bystrinskaya Mining Company, Ametistovoye and Kamgold. Zoloto Kamchatki owns 9 licenses for gold deposits with the combined reserves of over…Details
Electrocable has received machinery to modernize manufacture of cable with low gas and fume emission (halogen-free). Its total cost exceeds 73 million rubles. “Today all the strategically important objects, including nuclear power plants, subway, oil and gas infrastructure, as well as hospitals, kindergartens and malls are equipped with fireproof cables. Halogen-free cables do not emit…Details
In 2017 Buryatia obtained 5677.9 kg of gold, down by 4%, or by 231.1 kg YoY. According to the republican ministry of natural resources, ore gold output totaled 3610 kg, and alluvial – 2067.9 kg. Gold output in 2016 was 5891 kg, including 4021 kg of ore gold and 1870 kg of alluvial gold. (Ukrainian…Details
Severstal Bar Works Balakovo is celebrating its 10-year anniversary. The project of construction was of the Greenfield category, as it was built from scratch. The employees of the key professions were trained at the Cherepovets Iron and Steel Works. At present the number of local employees at the works is 95%. The first rolled metal…Details
TMK, one of the world’s leading manufacturers of tubular products for the oil and gas industry, announces full redemption of the loan participation notes due in January in the total nominal value of $231 million on January 29. The $500-million eurobonds with a coupon rate of 7.75% and a 7-year maturity were issued by TMK…Details
PAO Severstal, one of the world’s leading vertically integrated steel and steel-related mining companies, announced its capital investment program for 2018. Severstal plans to invest approximately 49.5 billion rubles in 2018, focusing on the key areas of the company’s strategy. This investment will primarily be aimed at further reduction of costs, increasing the production of…Details
In 2017 the net profit of Severstal dropped by 16.4% YoY, to $1.355 billion. The group revenue grew by 32.7%, to $7.848 billion, and EBITDA increased by 34.9%, to $2.577 billion. Net profit in Q4 2017 totaled $563 million, up 1.9-fold QoQ. EBITDA grew by 22.4%, to $754 million, while revenue – by 10.4%, to…Details
The Finance Ministry will decide within a month whether to abolish value-added tax (VAT) on investment gold, Deputy Minister Alexei Moiseyev declared. “The main problem here is that to distinguish between gold intended for investment and for jewelry production is very hard. This is the main bone of contention. But I expect the decision to…Details
Residents of Kadamdzhay district hold a rally against the development of Shambesai gold field, regional administration reported. According to its data, residents demand to close the mine, because they believe that mining of gold harms the environment. Gold reserves of Shambesai field are estimated at 8 tons. Exploration work at the deposit began in 2007,…Details
Vesco, Druzhkovka Mine Group and Ogneupornerud, all controlled by System Capital Management, will jointly pay 329.023 million UAH of dividends for January 15 – July 31. In particular, Vesco will pay 224.21 million UAH, Druzhkovka Mine Group – 47.75 million UAH and Ogneupornerud – 57.05 million UAH. The corresponding decision was taken at the extraordinary…Details
The State Fiscal Service of Ukraine announced TOP-100 major taxpayers of Ukraine in 2017, where PJSC ArcelorMittal Kriviy Rih took one of the leading positions Last year 100 major taxpayers increased their payments to the state budget by 21.6% YoY, to UAH 258.3 billion. PJSC ArcelorMittal Kriviy Rih took the first place among other Ukrainian…Details
Chelyabinsk Zinc Works has started constructing a site of zinc cake flotation. The foundation has been laid, and the company is now busy assembling reservoirs and pumps. When processing zinc concentrate, zinc cake is created containing 15-25% of zinc, which is then sent for fuming in the rotary kiln. Cake also contains some 2% of…Details
In 2017 VIZ-Stal increased output by 9%, to 161.6 thousand tons. Capacity loading remained high – 99%. Transformer rolled metal sales grew by 5%, to 160.9 thousand tons. The positive dynamics has to do with the restoration of the world demand for transformer steel and realization of projects aimed at improving product quality. Exports accounted…Details
In January UralKuz reached a record-high volume of output – 11.5 thousand tons, the highest monthly result in the company history. Railroad axles production increase contributed the most to the overall growth. Last year UralKuz modernized one of its manufacturing lines. It can now produce 4 thousand tons of axle billets per month. (Ukrainian metal)Details