The Russian government has approved an agreement with the Chinese government on joint development of the Klyuchevsky gold ore deposit in the Zabaikalsky region. The project will be carried out by Zapadnaya-Klyuchi, a subsidiary of Indian investment group CAH Gold, in two years. The project will attract $500 million direct investment from China and can…Details
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Russian aluminum producer RUSAL asked Prime Minister Dmitry Medvedev in early June to reduce the tariff on railway transportation of raw materials and goods to help it amid the U.S. sanctions. On April 6 the U.S. imposed sanctions against 38 Russian tycoons, government officials and companies, including Oleg Deripaska and his assets RUSAL and En+…Details
The prices for exported goods in Kazakhstan in April increased by 0.6% compared to December 2017, and for imported goods – by 1.1%, according to the Statistics Committee of the Kazakh National Economy Ministry. In the reporting period the increase in prices of export supplies was registered for copper – by 7.9%, non-ferrous and ferrous…Details
The prices of precious metals varied in Azerbaijan on June 14, according to the data published by the Central Bank. The cost of gold increased by 7.6415 manats, to 2,209.082 manats per ounce compared to the price on June 13. The cost of silver increased by 0.3063 manats, to 28.9073 manats per ounce. The cost…Details
In January-May Khabarovsk region yielded 7232.7 kg of gold, up by 12.4% YoY. Resursy Albazino LLC, a part of Polymetal, has provided for 40% of the total volume. The company is mining for gold at deposits of the district named after Polina Osipenko. Alluvial gold accounted for 443.7 kg of the total volume, down by…Details
In May MMK decreased railroad transportation of rolled metal by 11.6% YoY and by 3.4% MoM, to 829 thousand tons. In January-May railroad shipping of metal from MMK increased by 3% YoY, to 4.44 million tons, the highest result in the past 4 years. Deliveries to domestic customers grew by 13%, to 2.85 million tons,…Details
According to Mikhail Volynets, the chairman of the Independent Miners’ Union of Ukraine, there are partial salary debts to Selidovugol miners for 2015 and 2017. “The miners have blocked the Moscovskaya Street in the town of Selidovo. This road leads south in the direction of Mariupol, Zaporozhye and Krasnogorovka. Some miners want to go to…Details
The acting director of the United Mining and Chemical Company Alexander Gladushko believes the state ownership limits the enterprise development. “The taxation base is a burden for state companies. It considerably limits the spending on modernization, and the company itself has limited opportunities on reconstruction”, he said. He believes, that the private ownership will allow…Details
Sumgayit Technology Park (STP) has delivered a large batch of cables to Tajikistan. The products were delivered as part of the reconstruction work in the Roghun hydroelectric power station. The company shipped two types of cables: control cables and low voltage cables (up to 1 kV). Earlier, STP delivered the first batch of power cables…Details
In May, according to the railroad statistics, direct supplies of ferrous scrap to NLMK-Kaluga totaled 138 thousand tons, up by 23.6% MoM and by 2.2% YoY. In April the results were +45.6% and -7.5%, and in March -8.6% and +31.3% respectively. In January-May the company received 498.8 thousand tons of scrap, up by 14.7% YoY.…Details
Irkutskgeofizika, a part of the state geological holding Rosgeologia, has started the summer field season with the prospecting works at the Okino-Iyskaya territory in Irkutsk region. The goal of the project is to locate and evaluate R1 and R2 gold resources. The project will be completed in Q4 2020. (Ukrainian metal)Details
In May the most efficient rolling mill at MMK – the 2000 hot-rolling mill – set a record of monthly output – 527.5 thousand tons. This is the maximum monthly output since the mill’s commissioning in 1994. The previous record was set on January 2015 – 526.2 thousand tons. The 2000-mill is one of the…Details
Severstal has started another stage of the coke-oven plant No. 4 construction at Cherepovets Iron and Steel Works – the drying and heating of the new machine. The total cost of the investment project is some 6 billion rubles. One of the advantages of the new coke-oven plant is the considerable decrease of environment impact.…Details