Russian government ministries have agreed that a proposed windfall tax on metals, mining and chemical companies is inappropriate, Reuters reported citing Industry Minister Denis Manturov. “With colleagues from other ministries, we have reached a common position that as of today it’s inappropriate,” he told reporters on the sidelines of a military forum. The proposal, put…Details
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Ukraine’s output of manganese ferroalloy fell by 11.9% YoY and by 7.5% MoM, to 74,950 tons in July, Ukrainian ferroalloy producers association UkrFA said. In July Ukraine produced 65,400 tons of silicomanganese, down from 66,700 tons in July 2017. Output of ferromanganese dropped to 3,700 tons from 11,000 tons and production of ferrosilicon fell to…Details
Ukraine’s extraction of coal rose by 1.1% YoY, to 2.64 million tons in July from 2.61 million tons in July 2017 and from 2.55 million tons in June, the Energy and Coal Industry Ministry reported. Extraction of thermal coal in July increased by 7.7%, to 2.22 million tons from 2.06 million tons in July 2017,…Details
In January-June Russia imported 1.13 million tons of rolled steel and pipes from Ukraine, up by 47.8% YoY. The share of bars and sections is around 55%, up 2-fold. Flat rolled metal accounts for 32.9%, up by 1.4%, while pipes dropped 2-fold, to 3.3%. (Ukrainian metal)Details
In January-June Lysva Iron and Steel Works received 430 million rubles of net profit, up from 275 million rubles of net loss a year earlier. Revenue increased 2.4-fold, to 6.798 billion rubles, with gross profit up 3.2-fold, to 1.051 billion rubles. Sales revenue grew 3.3-fold, to 721 million rubles. Since the start of the year…Details
In January-July the Republic of Buryatia extracted 2929.7 kg of gold, up by 7% YoY. Ore gold accounted for 1983.9 kg, up by 4%, while alluvial gold output grew by 13%, to 945.8 kg. Last year the region yielded 5677.9 kg of gold. (Ukrainian metal)Details
In January-June Mechel decreased steel output by 8% YoY, to 2.051 million tons. The decrease was the result of the scheduled repairs of machinery in the sinter-blast furnace and oxygen-converter shops of Chelyabinsk Iron and Steel Works. A major repair of the continuous casting machine No. 5, carried out in Q2, reduced the loading of…Details
Chelyabinsk Iron and Steel Works produced rebars for one of the major infrastructure projects – the construction of the Central Ring Road in Moscow region. ChMK rebars are used to construct bridges, tunnels and transport infrastructure in the Pushkin district, and the town of Zvenigorod, as well as the bridge over the railway and an…Details
Mechel PAO’s Chief Executive Officer Oleg Korzhov commented on the January-June operational results. “Renewal of mining equipment at Mechel’s coal facilities enabled us to attain stable mining levels, and we plan to maintain this work pace until this year’s end. The decrease in mining volumes was due to a decline in thermal coal mining and…Details
In April-June ChTPZ received 5.574 billion rubles of net profit, up from 1.35 billion rubles in Q1. In H1 net profit reached 6.927 billion rubles as opposed to the loss of 864 million rubles a year earlier. Revenue in Q2 dropped by 1% QoQ, to 35.79 billion rubles. H1 revenue increased by 33% YoY, to…Details
Nordgold has increased its initial gold output forecast for 2018 from 0.95-1 million ounces to 1-1.5 million ounces. The improvement of the forecast is due to the project to construct an underground mining site at the Berezitovoye deposits as well as the commissioning of the Gross mine in Yakutia. The operation at the Berezitovoye will…Details
In January-July Polyus Magadan produced 2.6 tons of gold and 0.7 tons of silver. The company is developing the reserves of the Natalka gold-ore deposits in Magadan region. The first ton of gold was produced in April. This year the company is expected to obtain at least 5.4 tons of gold. At present the capacity…Details
Krasniy Octyabr is finishing its project to assemble a Danieli PL-370 centerless turning machine. The commissioning is scheduled for the nearest future. The world market requirements to rolled metal are getting more and more tough. Only modern machinery from the leading manufacturers can cope with them. The commissioning of the PL-370 mill, which could peel…Details