The Ministry of energy and coal industry has cleared all salary debts to state miners. “The government has found funds, and we have fulfilled our obligations to the miners. All of them”, energy minister Igor Nasalik said. Now, according to him, the government has to find funds for the development of the state coal industry.…Details
Swiss commodity trader Glencore has dropped an idea to convert its stake in Russian aluminum giant UC RUSAL into global depositary receipts (GDRs) of En+ Group because of the new U.S. sanctions, it said in a statement on April 10. “Glencore has previously signed a non-binding term sheet with En+ regarding swapping its shares in…Details
Stoilensky, the main resource base for NLMK Group, an international steel company, has begun the mining of quartzite on the southern bank of the Stoilensky deposit. The development of this site and the overall expansion of mining operations will enable a 10% increase in production output year-on-year to 38 million tons in 2018 and will…Details
Russian aluminum giant UC RUSAL may default on some loan liabilities because of the new sanctions imposed by the U.S., the company said in a statement released on the Hong Kong Stock Exchange on April 9. On April 6 the U.S. imposed sanctions against a total of 38 Russian tycoons, officials and companies, including Oleg…Details
Last week the price of one ounce of gold decreased by 2.482 manats or by 0.1%. Accordingly, the average price of one ounce of gold stood at 2,264.434 manats. The price of one ounce of silver decreased by 0.136 manats or by 0.5%, to 27.89634 manats. The price of one ounce of platinum decreased by…Details
Ukraine saw a record low steel output in 2017 due to the lack of important raw materials. In particular, there is a threat of a blocking of imports of sulfuric acid that could create a monopoly on this type of raw materials. The interdepartmental commission on trade should make the corresponding decision by late April.…Details
In January-March Boshnyakovsky Coal Pit mined 131 thousand tons of coal. The company owns three licenses to develop coal sites at the Boshnyakovskoye deposits. In 2010 the company obtained the licenses to Soldatskiy-1 and Onnaysky sites, and in December 2017 – to Onnaysky-Southern. This year the latter is expected to yield 0.5 million tons of…Details
Okhta GGK LLC, a part of Polymetal, has started developing the Khotorchan gold ore deposits in Khabarosvk territory. The first ore was mined on March 31. The deposits reserves will become the raw materials base for the Khakanjinskaya gold-extracting factory. The Khotorchan CC2 reserves are estimated at 839 kg, and forecast resources (R1) at 5…Details
Karelsky Okatysh is preparing to put into operation a new BelAZ dump truck.
The company specialists are now assembling it.
The lifting capacity of the machine is 240 tons, but the company intends to transport some 230 tons.
By June the company will have received three more similar trucks. (Ukrainian metal)
Russian metals producers are preparing proposals to retaliate against U.S. imports duties, Deputy Prime Minister Arkady Dvorkovich declared. “Companies are preparing their proposals, we will discuss them. Initially, we wanted to hold a meeting in Krasnoyarsk but we have just decided to postpone it for several days in order to prepare better. We are waiting…Details
Until December Mechel has to make monthly payments for the purchase of Donetsk Electrometallurgical Works, bought in 2011, and in 2016 “nationalized” by the militants of the so-called Donetsk People’s Republic, a terrorist organization created and supported by Russia. On December 22, 2011 Mechel bought 100% of Daveze Ltd shares, owner of 100% of DEMZ,…Details
Ukrmetallurgprom suggests the Ministry of economic development and trade to initiate a special investigation as to the metal imports, as the European Union did in March. According to the enterprise president Alexander Kalenkov, this will help protect the domestic market from the large-scale and abusive imports of metal products, mostly from China, in the segment…Details
Petro-Consulting LLC, which has recently obtained the special license to mine for lithium ore in Donetsk region with the reserves of 14 million tons, intends to find a major foreign partner to start developing the deposit in 2021. Investments are estimated at $120 million and will be spent to construct the manufacturing infrastructure (electricity, gas,…Details
In March Yuzhniy Mining and Processing Works decreased concentrate output by 0.6% YoY, to 1042.9 thousand tons. Sinter output grew 2.1-fold, to 230.4 thousand tons. In January-March UGOK produced 3012 thousand tons of concentrate and 521.4 thousand tons of sinter, down by 1%, but up by 15.7% YoY, respectively. In 2017 UGOK increased concentrate output…Details
A part of Zaporozhye Aluminum Works has been cheaply bought by Power-Generating Company Ukrhydroenergo LLC. In 2016 the management of the works, 68% owned by the state, represented by the Fund of State Property, decided to sell a part of the real estate, in particular, the main and administrative premises of the electric power plant,…Details
The state enterprise Selidovugol on the basis of an open auction has ordered the private enterprise Techkom the delivery of bearings valued at 12.76 million UAH. In particular, the enterprise has ordered 5816 bearings of 171 types. The seller has to deliver the bearings at its own expense within 2 days of the receipt of…Details
The First Ore Company LLC has submitted information to the Registry of Environment Impact on its plans to start mining beryllium in Zhitomir region. The size of the deposits is 4 ha. But to place mineshafts and manufacturing sites the size should be 30 ha. The company plans to lease the necessary land or buy…Details
The Commercial Court of Donetsk region has obliged Donetskstal to pay 2.749 billion UAH to the investment fund ICU. The fund applied to the court in 2011. The case has to do with loans given by VTB Bank. In particular, 1.293 billion UAH is the loan itself, 514.9 million UAH – interest, 940.1 million UAH…Details
In 2017 Bratsk Aluminum Works received 2.76 billion rubles of net profit, down by 26.2% YoY.
According to the company statement, its revenue decreased by 14.6%, to 93.97 billion rubles, while gross profit grew by 12.8%, to 9.01 billion rubles.
The company has not disclosed the reasons for the changes. (Ukrainian metal)
In 2017 the market of large diameter pipes saw a considerable fall. Chelyabinsk Pipe Works and Pipe Metallurgical Company were left almost without orders. According to ChTPZ, the demand for LDP (530 to 1420 mm) decreased by 25%. In 2016 Russia sold 2.1 million tons of pipes, while in 2017 – 1.6 million tons. Analysts…Details
In January-March Irkutsk region yielded 3259.2 kg of gold, up by 34% YoY. Ore gold accounted for 3258.6 kg. In particular, Polyus Verninskoye extracted 1605.8 kg, Vysochaishiy – 1102 kg, Druza LLC – 180.8 kg and Ugakhan LLC – 370 kg. Alluvial gold output totaled 0.6 kg, all obtained by Lenzoloto enterprises. In January-February gold…Details
In 2013-2017 the market of stainless pipes witnessed a growth trend (by 26 thousand tons, or by 54%). This was mostly the result of the welded pipes consumption growth (by 20 thousand tons, or by 80%). In 2017 there was a sharp increase in demand for seamless stainless pipes, as the volume of the market…Details
Oleg Deripaska, the major shareholder of Russian aluminum giant UC RUSAL, was included in a list of candidates to a new board of directors of metals giant Norilsk Nickel, Norilsk Nickel said in a statement on April 5. RUSAL, which owns 27.8% in Norilsk Nickel, nominated a total of five people to the company’s board,…Details
In 2018 Mechel intends to reach coal output at the level of 23.3 million tons. “In particular, UKUZ is expected to yield 9.5 million tons, Yakutugol – 8.5 million tons and Elga – 5.3 million tons. Coking coal concentrate will total 10.7 million tons. Power-generating coal output – 5.8 million tons”, the company CEO Oleg…Details
The minister of energy and coal industry Igor Nasalik has called on the Verkhovna Rada to provide funds to modernize the coal industry. “Without financing and investments in modernization the coal industry will not develop. The ministry has designed a plan to reform the industry, but so far we have not found funds. If this…Details
The European Union decided to stop the antidumping investigation on the imports of ferrosilicon from Ukraine and Egypt.
The European Commission announced the cancellation of the investigation on April 4, as the Association of European ferro-alloy Producers had revoked its application on February 27.
The antidumping investigation began in August 2017. (Ukrainian metal)