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Russia: MMK IFRS net profit up in Q1 2018

The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) rose by 15.8% YoY, to $279 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on May 8. Revenue increased by 23.8%, to $2.055 billion, while EBITDA grew by 23.9%, to $560 million. (Prime/Ukrainian metal)

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Russia: coal mining up in April 2018

In April Russia mined 35.32 million tons of coal, up by 5.8% YoY, while exports increased by 0.7%, to 15.34 million tons. Deliveries to the domestic market grew by 17.5%, to 15.1 million tons. Imports dropped by 12.7% YoY, to 1.58 million tons. SUEK mined 9.2 million tons of coal, down by 1.2%, Kuzbassrazrezugol –…

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Russia: HGM gold output down in Q1 2018

In January-March Highland Gold Mining Limited obtained 59.31 thousand ounces of gold and gold equivalent, down by 9% YoY. This year the company intends to yield 265-275 thousand ounces of gold equivalent. Average gold price in Q1 was $1329 per ounce. Last year gold output at HGM enterprises grew by 4.3% YoY, to 272.3 thousand…

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Ukraine: ferrous metals export revenue up in January-April 2018

In January-April Ukraine increased ferrous metals export revenue by 32.1% YoY, to $3.49 billion. According to the State Fiscal Service, ferrous metals accounted for 22.57% of the total export earnings as opposed to 19.26% in January-April 2017. In particular, in April ferrous metals export revenue totaled $904.1 million. In January-April Ukraine imported $385.37 million worth…

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Ukraine: coal imports up in January-April 2018

In January-April Ukraine imported 7.437 million tons of coal valued at $1.004 billion, up by 53.9% and by 30.3% YoY respectively. According to the State Fiscal Service, Russia supplied $643.58 million worth of coal (64.08% in the total imports), USA – $288.411 million (28.72%), Canada – $48.365 million (4.82%), and other countries – $24.003 million…

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