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
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Prices of gold, silver and platinum decreased in Azerbaijan on November 14, according to the data published by the Central Bank. The price of gold dropped by 2.7115 manats, to 2,044.8195 manats per ounce on November 14 compared to the price on November 13. The price of silver went down by 0.1235 manats, to 23.8236…Details
The Eurasian Mining and Geology Forum “Digitalization of the Mining Industry for Joint Development and Prosperity in Eurasia” is taking place in Minsk, the press service of the Ministry of Natural Resources and Environmental Protection of Belarus reported. Taking part in the forum are about 300 participants from 17 countries of the CIS, Europe and…Details
Receipt of applications from potential investors for participation in a tender for creation of a joint venture on the basis of Makmalzoloto combine branch has begun, press service of Kyrgyzaltyn reported. Applications for participation in the competition are reportedly accepted within 30 calendar days (November – December) in the central office of Kyrgyzaltyn OJSC. The…Details
In 2017 Russia saw the largest output of gold. “This was the year of gold output record. We have also almost reached the record, set in the Soviet Union. And we have a chance this year to produce more gold than the Soviet Union”, Kraszvetmet CEO Mikhail Dyagilev Last year Kraszvetmet produced 220 tons of…Details
Lugansk region is carrying out an investment project to commission the 13th Western long face at the Carbonite mine of the state enterprise Pervomayskugol with the purchase and modernization of coal and mining machinery. This is the first and the largest investment project in the region. It was designed by several European companies. Investments in…Details
The Arbitrary court of Volgograd region has declared the Volgograd Iron and Steel Works “Krasniy Octyabr” bankrupt. According to the court decision, bankruptcy proceedings at the company will last for 6 months. The bankruptcy of the company was initiated by the tax service, as Krasniy Octyabr had tax debts of 130 million rubles. The works…Details
Lvivugol miners have been paid 10 million UAH for September. Now the September salary has been paid for 63%. On November 12 Lvivugol received the second part of payment for coal sold – 15 million UAH. 10 million UAH were spent to clear salary debts. So far the miners have been paid 88.1 million UAH,…Details
Severniy Mining and Processing Works is modernizing its processing factory. By the end of the year the company intends to have assembled 64 separators there. The new machinery has been purchased under an investment program. After the modernization all the separators will be of the same type. This will help decrease repair time and ease…Details
Evraz is carrying out a project to reconstruct the Tashtagol mine. The project will improve the company raw materials safety thanks to the increase of iron ore mining 1.5-fold, from 2.2 million tons to 3.25 million tons per year. Investments in the project will reach 6.8 billion rubles. The balance reserves of the mine as…Details
The construction of the “7 November-new” mine started in Kemerovo region. The mine will be developing the Sychevskiy-Perspektivniy site deposits. The license for the site was purchased in 2015 to replace the mine named after November 7, which had depleted its resources. The miners have been transferred to the Magistralniy site of the mine named…Details
In January-October Chukotka Autonomous District mined 601.5 thousand tons of coal, up 1.5-fold YoY, and by 35% from the whole last year. The main coal output is provided by Beringpromugol LLC. Since late 2016 the company has been developing the Fandyushkinskoye field deposits. This year the company has mined 471 thousand tons of coal, up…Details
Izhstal has mastered the manufacture of a contact rail used to provide the subway wagons with current. Previously such rails have been imported. The billet for the manufacture of this rail is made of low-carbon steel, and then is rolled at the bar mill-450. The trial batch of rails with the volume of 50 tons…Details