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The nickel output of the Russian metals giant Norilsk Nickel fell by 9% QoQ, to 49,460 tons in April-June, the company said on July 31. Copper output rose by 4%, to 117,275 tons. In January-June the company’s nickel output rose by 1% YoY, to 103,523 tons. Copper output increased by 18%, to 229,565 tons. Palladium…
DetailsPokrov Mining and Processing Works (ex-Ordzhonikidze GOK) from September 7 will transfer its accounts from the nationalized PrivatBank to the Credit Dnepr Bank. According to the company statement, the change of the bank has to do with PrivatBank being constantly under pressure lately, which could create risks for the GOK. “To prevent such a negative…
DetailsZaporizhstal has increased its grant fund for social initiatives competition to 5.3 million UAH. This year for the 6th edition of the “We are the city” competition the citizens of Zaporozhye have submitted a record high number of ideas – 287, among which 73 have been selected. To carry out their projects the winners will…
DetailsThe Kriviy Rih city police have informed that the morning of July 31 has started with the information of the mining of ArcelorMittal Kriviy Rih. The territory of the works was immediately surrounded and checked for explosives. On July 20 similar information was received by the police. Luckily it was false. (Ukrainian metal)
DetailsGaysky Mining and Processing Works is constructing a weigh-loading complex at the Skipovaya mine. The work is being performed underground – at the depth of 1260 meters. Investments in the new complex total 20 million rubles. The construction began in November 2017, and is planned to be finished this year. (Ukrainian metal)
DetailsStoylensky Mining and Processing Works has purchased three 136-ton BelAZs to transport rock. The dump trucks have been purchased under the project to develop the quarry and increase unoxidized ferruginous quartzites output from 37 million tons to 42 million tons. Additional jobs will be created to service the new machines – 13 drivers. Taking into…
DetailsPrecious metals in Azerbaijan rose in price on July 31, according to the data published by the Central Bank. The price of gold increased by 3,672 manats, to 2078,0545 manats per ounce in on July 31, compared to the price on July 30. The price of silver increased by 0,117 manats, to 26,3296 manats per…
DetailsMMK has decreased the forecast of demand for its products this year almost 2-fold because of the tax reform. While seeking money for pre-election promises of president Vladimir Putin, Russian authorities suggested increasing the base rate of added value tax by 2%. “Last year steel consumption in Russia grew by 6.5%. This year we estimate…
DetailsAt a meeting held on July 31 NLMK Group’s Board of Directors recommended the company’s shareholders approve payment of Q2 dividends of 5.24 rubles per share at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on September 28. 5.24 rubles per share is equivalent to approximately 100% of the company’s average free cash…
DetailsNLMK Group announces an EBITDA growth of 13% QoQ, to a record $915 million. Net income grew by 16%, to $581 million. Group revenue in Q2 grew by 11%, to $3.11 billion (+22% YoY), driven by the seasonal uptick in sales (+6% QoQ), while average sales prices grew by 5% QoQ. EBITDA increased by 13%…
DetailsThe net profit of the Russian metal producer Norilsk Nickel grew by 77.8% YoY, to 89.328 billion rubles in January-June, as calculated under Russian Accounting Standards (RAS), the company said in a statement. Revenue grew by 45.8%, to 280.29 billion rubles, the gross profit increased by 58.4%, to 176.73 billion rubles, and sales profit by…
DetailsThe price of one ounce of gold decreased by 12.4865 manats, or by 0.6% last week. Accordingly, the average price of one ounce of gold stood at 2,084.7797 manats. The price of one ounce of silver decreased by 0.108 manats, or by 0.41%, to 26.30528 manats. The price of one ounce of platinum increased by…
DetailsNovosibirsk Iron and Steel Works intends to modernize its pipe manufacture. “In 2018-2019 we will carry out an investment project to restructure pipe manufacture and purchase a pipe mill to replace outdated machinery, improve economic efficiency and increase pipe range”, the company said. Investments are expected to total $4 million. In 2017 NMZ increased revenue…
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