Trading floor for electric power Nord Pool has allowed Kubal, a Swedish plant of Russian aluminum company UC RUSAL, to resume trading after suspension in April, Nord Pool said in a statement on May 8. “Nord Pool wishes to inform that Kubikenborg Aluminium AB’s suspension from trading on its markets has been lifted, and that…Details
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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)Details
The prices of main precious metals decreased in Azerbaijan on May 8, according to the data published by the Central Bank. The cost of gold dropped by 8.1345 manats, to 2229.397 manats per troy ounce compared to the price on May 7. The cost of silver decreased by 0.1523 manats, to 27.9667 manats per ounce.…Details
Buryatzoloto, the largest gold-mining company in the Republic of Buryatia and a part of Nordgold, intends to increase investments this year to 2.1 billion rubles, or by 23% YoY. This has to do with the replacement of mining equipment at both of its mines valued at 749 million rubles. 109 million rubles will be spent…Details
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 –…Details
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…Details
The state enterprise Yakutnedra has sold 5 alluvial gold sites at the auction. The winners were Nord LLC, Zoloto Ynykchana LLC, Charan LLC, Adycha LLC and Drazhnik LLC. In particular, Nord LLC paid 555 thousand rubles for the site at the Severikan brook. Zoloto Ynykchana LLC paid 1.65 million rubles for the site at the…Details
In January-March the state enterprise Lvivugol mined 362.383 thousand tons of coal, up by 16.5% from the goal. Since April 1 the enterprise has been yielding around 5 thousand tons of coal a day. As of early April, 6 long faces were in development. Stepnaya mine has been providing around 1 thousand tons of coal…Details
The Cabinet of Ministers of the Republic of Tatarstan has reviewed the agreement on the operation on the territory of the social and economical development “Nizhnekamsk”. The Cabinet has approved the proposition of the Russian-Chinese Kamastal LLC to organize the manufacture of coated steel coils. Shandong Baikal Group will be the Chinese investor. The cost…Details
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…Details
The chairman of the Independent Miners Union of Ukraine Mikhail Volynets claims that the total salary debts at state mines exceeds 740 million UAH. “The monthly salary fund at state coal enterprises is 530 million UAH. The number of employees is 41 thousand people”, he said. According to him, debts for 2015-2017 stand at 274…Details
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…Details
Ukrzaliznytsia (Ukrainian Railways) has ordered 295.25 million UAH worth of railroad wheels from Interpipe Ukraine LLC. This year the company will supply 14628 solid wheels produced by Interpipe Nizhnedneprovsk Pipe-Rolling Works not earlier than on November 1, 2017, at 17671 UAH apiece. The price of the contract is 0.5% below the expected cost of the…Details