Severstal has suspended deliveries of metal to Iran this year without stating terms or reasons. According to the company statement, earlier in the year it delivered inconsiderable volumes of metal to Iran. The company did not name the precise volume of deliveries, or the time frame of the suspension, and did not comment on the…
DetailsBelarusian specialists are busy doing geological prospecting work for the sake of gold extraction in Sudan, Belarusian Deputy Natural Resources and Environmental Protection Minister Andrei Khmel reported on July 19. The agreement on inviting Belarusian specialists to search for and extract gold in Sudan was reached as Belarus President Alexander Lukashenko visited the country. “A…
DetailsResults of the work to find gold, copper, platinum, and uranium ore in Belarus were revealed by Vasily Kolb, Deputy Head of the Central Office for Natural Resources, Head of the Geology Office of the Belarusian Natural Resources and Environmental Protection Ministry, at a press conference on July 19. According to the source, work to…
DetailsPrices of precious metals in Azerbaijan continued their decline on July 19, which they started on July 16, according to the data published by the Central Bank. The price of gold decreased by 4.1 manats, to 2082.0325 manats per ounce on July 19, compared to the price on July 18. The price of silver decreased…
DetailsBelenergomash-BZEM LLC has concluded a contract for the manufacture of 2200 tons of metal structures for the Nitric Acid Works in the city of Navoi (Uzbekistan). The order comprises main and supplementary metal structures, roof and wall sandwich-panels, doors, windows, water pipeline system, etc. The company has already finished 3D-modelling and designing the structures, and…
DetailsOmsuchanskaya gold-extracting factory has processed 20 million tons of ore and commissioned its second thickener. Omsuchanskaya Factory is the main processing center of the Dukat hub of Serebro Magadana, a part of Polymetal. In addition to the Dukat ore the factory processes ore from the Galtssovoye, Lunnoye and Verkneye Menkeche deposits. In 16 years of…
DetailsGaysky Mining and Processing Works has purchased new mills for its repair-mechanical plant under the program to replace and modernize outdated machinery. Investments this year total 2 billion rubles. Since the start of the year over 20 units of mining machinery, both domestic and imported, have arrived at the enterprise. Two milling machines valued at…
DetailsMikhailovsky Mining and Processing Works has become the winner of the MMK supplier competition in the category of iron ore pellets. “The main criteria of the competition are the quality of the products, their demand, as well as the innovative and scientific-technical component”, MGOK commercial director Ivan Buyanov said. “The iron ore raw materials purchased…
DetailsIn January-June Severstal increased steel output by 6% YoY, to 6.03 million tons. Pig iron manufacture grew by 1%, to 4.61 million tons. At the same time in Q2 pig iron output dropped by 4%, to 2.26 million tons, and steel – by 1%, to 3 million tons. Overall steel sales in H1 increased by…
DetailsMetinvest has attracted a loan of 43.2 million euros for 7 years to finance the Mariupol Ilyich Iron and Steel Works. The loan is covered by the Austrian export guarantee issued by Oesterreichische Kontrollbank AG. The money will be spent to finance the construction of the continuous casting machine No. 4 at Mariupol Ilyich by…
DetailsUkraine’s Economic Development and Trade Ministry says the European Commission has decided to impose preliminary protective measures within an investigation into metal products, introducing tariff quotas for imports of 23 types of such produce for 200 days from July 19. “Tariff quotas will be applied on the basis of the “first come, first served” principle.…
DetailsMetinvest, the vertically integrated group of steel and mining companies, has settled another part of its pre-export finance (PXF) facility ahead of schedule. This underscores the group’s pledge to lower debt further following the conclusion of the debt refinancing in April, the largest transaction by a Ukrainian corporate to date. In it, Metinvest refinanced $2,271…
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