Having prohibited the exports of scrap from the main Far East ports for 6 months to help Amurmetal with raw materials, the government can now take similar measures to help Abinsk Electrometallurgical Works (AEMZ). The Ministry of industry and trade intends to hold a meeting on providing AEMZ with raw materials. The authorities of Krasnodar…Details
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Magnitogorsk Iron and Steel Works (MMK) won the XV industry competition titled “Metal and Mining Enterprises with Highly Effective CSR”. The competition participants were 61 metal and mining enterprises. For the second year in a row, MMK is amongst the winners in the category “Environmental Protection and Resource Management”. MMK’s investments in environment protection last…Details
The prices of the main precious metals varied in Azerbaijan on July 5, according to the data published by the Central Bank. The cost of gold decreased by 2.686 manats, to 2,133.7975 manats per ounce compared to the price on July 4. The cost of silver decreased by 0.0476 manats, to 27.2734 manats per ounce.…Details
S & P Global Rating believes that the Eurasian Resources Group will see a higher financial stability, and has increased its long-term rating to B from B-. Last year the group EBITDA reached $2 billion, and its free fund flow was positive ($476 million). The group was able to strengthen its positions due to FeCr…Details
By 2024 Seligdar intends to have increased gold output to 10 tons. According to the company development strategy, the first stage of 2018-2021 will see gold output increase to 8 tons. The second stage of 2022-2024 presupposes the commissioning of the Khvoyniy site in Yakutia with the capacity of over 2 tons of gold a…Details
This year Polyus Aldan intends to produce over 6 tons of gold. At present the company ore gold output accounts for 37% of the total output in Yakutia. In 2017 Kuranakhskaya gold-extracting factory processed over 4.6 million tons of ore and produced 171.5 thousand ounces of gold. In 2016 the output was 159.7 thousand ounces.…Details
Russia’s metals and mining group Mechel has prolonged an agreement to deliver up to 700,000 tons of premium quality coking coal to China’s Baosteel Resources until July 2019, it said in a statement on July 4. Yakutugol subsidiary will ship up to 40,000 tons every month. The price will be set monthly. CEO Oleg Kirzhov…Details
Evraz still supplies slabs to the United States, despite the duty of 25%. According to the Evraz vice president on finances Nikolay Ivanov, “on one hand, the products sold to the US became more expensive, while on the other, because of the duty, as expected, domestic prices have grown“. “So we are still supplying slabs…Details
In June Yuzhniy Mining and Processing Works produced 1006 thousand tons of concentrate, up by 0.9% YoY. According to the company statement, sinter output dropped by 41.4%, to 88.1 thousand tons. In January-June UGOK decreased concentrate output by 0.4% YoY, to 6060.2 thousand tons, while sinter manufacture grew by 0.1%, to 894.6 thousand tons. (Ukrainian…Details
The prices of main precious metals increased in Azerbaijan on July 4, according to the data published by the Central Bank. The cost of gold increased by 30.7785 manats, to 2,136.4835 manats per ounce compared to the price on July 3. The cost of silver increased by 0.4613 manats, to 27.321 manats per ounce. The…Details
Nikolai Kovalchuk, an employee of the Novovolynskaya-10 mine, who took part in the underground strike demanding salary debts to be cleared, ended up in the hospital. According to Mikhail Volynets, chairman of the Independent Miners Union of Ukraine, he suffered from vomiting and bleeding. Kovalchuk has been taken to the hospital by the mining rescuing…Details
Interpipe has invested $8 million in the construction of the pipe finishing line at its Interpipe Niko Tube works in the city of Nikopol. The assembly of the machinery has been completed. Now the line is being tested. When it reaches its project capacity it will be able to process 93 thousand tons of pipes…Details
On July 3 a fire broke out in the manufacturing shop of the Aluminum Casting Works in the city of Barnaul. 6 units of special machines and 21 firefighters extinguished the fire in 16 minutes. Several days ago, on June 30, three roofers fell from the 15-meters high shop building, where they were repairing the…Details