The Uralskaya Kuznitsa Works has successfully passed the re-certification audit of the quality management system correspondence to ISO 9001:2015. The audit has been carried out by TUV Rheinland. The company specialists have checked the forge-press and mechanical shops, and talked to the employees. As a result of the inspection, the quality management system has been…Details
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Metalloinvest has started implementing the technique of fine screening at Mikhailovsky Mining and Processing Works. The use of new Derrick screens will improve the quality of the concentrate by increasing iron contents from 65% to 67%, while decreasing the content of silicon dioxide. Investments in the project by the end of 2022 are estimated at…Details
The net profit of the Russian coal producer Raspadskaya rose by 34% YoY, to $225 million in January-June, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on August 24. Revenue went up by 23%, to $542 million in the period, and gross profit grew by 27%, to $306 million.…Details
International rating agency Fitch has affirmed a long-term issuer default rating and senior unsecured ratings of Russian metals holding Metalloinvest at BB, and revised the outlook on ratings to Positive from Stable, the agency said in a statement late on August 23. “The outlook revision reflects continued financial improvement, recovery on the global iron ore…Details
The prices of precious metals, except for palladium, decreased on August 24, according to the data published by the Central Bank. The price of gold decreased by 11.6705 manats, to 2,019.702 manats per ounce on August 24 compared to the price on August 21. No prices of precious metals were set on August 22 and…Details
Centerra Gold Inc. has agreed with the government of the Kyrgyz Republic to further extend the First Longstop Date under the Strategic Agreement for Environmental Protection and Investment Promotion previously entered into with the government of the Kyrgyz Republic on September 11, 2017. The First Longstop Date is the date by which all conditions precedent…Details
The ABB Ability MineOptimize solution will increase the output capacity of KAZ Minerals works. ABB has won a tender to supply a complex solution to electrify and automate the new processing factory at Aktogay. This is the third major order from KAZ Minerals to ABB. The ABB order is a part of the expansion project…Details
The Rusburmash Company has finished drilling to carry out prospecting works at the Kolichikanskoye deposits in the Republic of Buryatia. The start of the uranium mining is scheduled for 2020. This is the fourth deposit to be developed by Khiagda. At present the company is developing Khiagdinskoye and Istochnoye deposits, as well as carrying out…Details
Korshunovsky Mining and Processing Works is commissioning a new drilling rig at the Rudnogorsky mine. The machine has been purchased under the program of capital investments. At present the machine is being assembled. The company has 14 days to assemble the rig, after that it will be commissioned. (Ukrainian metal)Details
The Central Bank of Russia has increased gold purchases to the maximum since the start of the year. In July Russia bought slightly over 26 tons of gold, increasing its gold reserves to 2170 tons valued at $77.4 billion. A larger purchase was only in November 2017. The Central Bank started increasing gold reserves in…Details
Karelsky Okatysh is implementing new techniques in the power sphere. The company is carrying out a major project to make all the electric substation automated. The project will run till 2021. Investments total 500 million rubles. “The project started in 2013. It was very difficult, as no Russian enterprise had such a project. We had…Details
In January-June ChTPZ received 5.621 billion rubles of net profit, up 2.7-fold YoY. The adjusted EBITDA grew by 48%, to 16.238 billion rubles. Revenue went up by 31%, to 94.941 billion rubles, and gross profit – by 36%, to 23.477 billion rubles. The company net debt grew by 8.6% and as of June 30 amounted…Details
Severstal has presented a new type of vibration and noise suppression steel 01U5T. Damping steel can be used to construct transport infrastructure objects (railroad and subways), as well as in power, household, ventilation and military machines, mining, metal processing, etc. The steel mechanical characteristics are on par with structure steel 09G2S-295, while its prime cost…Details