The Prime Minister of the Kyrgyz Republic Mukhammedkaly Abylgaziev met with Centerra Gold Inc. CEO Scott Perry, the Information Support Department of the Government’s Executive Office reported. The parties discussed issues related to the strategic agreement signed on September 11, 2017. Mukhammedkaly Abylgaziev noted that the government realized the significant role of Kumtor in the…Details
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The prices of main precious metals increased in Azerbaijan on May 22, according to the data published by the Central Bank. The cost of gold increased by 1.8105 manats, to 2191.5635 manats per ounce compared to the price on May 21. The price of silver increased by 0.1365 manats, to 27.9847 manats per ounce. The…Details
Belorucheyskoye Mine Group, managed by Karelsky Okatysh, has started a new navigation and manufacturing season. “In 2018 we plan to mine 2.423 million tons of rock and produce 1.374 million tons of limestone, as well as renovate our quarry machinery park. We will buy a 45-ton BelAZ, a bulldozer and an autograder”, the mine group…Details
The Safyanovskaya Med mine, a part of UGMK, has mined the 1-millionth ton of copper ore. The development of the deposits started in 1992 as an open-pit mining; and is bound to be completed in 2020. In 2010 the construction of the underground mine began. So far the miners have reached the level of 500…Details
In 2017 MMK sold 3.22 million tons of hot-rolled metal, with some 60% supplied to Russian pipe companies. According to MMK senior region sales manager Andrei Golitsyn, the main customers are Seversky Pipe Works, Uraltrubprom and Almetyevsky Pipe Works. Last year Ural Federal District accounted for around 55% of all sales, with Privolzhsky for 30%…Details
Russia, which controls its own terrorist organization of the Donetsk People’s Republic, has started restoring machinery at Yenakievo Iron and Steel Works, burned down by the militants in early April. “The rare and expensive machinery is slowly being restored, the manufacturing process is going on. Thanks to the Russian specialists and enormous sums of money…Details
Shareholders of Ingulets Mining and Processing Works, Central Mining and Processing Works and Severniy Mining and Processing Works (all parts of Metinvest) at their meetings on May 18 decided to pay dividends for 2017 in the total of 4.86 billion UAH. In particular, InGOK will spend 2.16 billion UAH to pay dividends, and leave 2.6…Details
In April metal companies consumed 140 million cubic meters of natural gas, down by 18% MoM. In January-April gas consumption totaled 650 million cubic meters, down by 2% YoY, taking into account operation of assets on non-controlled territory in January-February 2017, or up by 9% without them. Electric energy consumption in 4 months reached 4…Details
In January-April Ukraine exported 216 thousand tons of scrap, or 354% as compared to the same period of the previous year. In 4 months Ukraine procured 1.16 million tons of scrap, up by 10%. 944 thousand tons were supplied to the metal companies, down by 5%. The level of provision of metal companies with scrap…Details
The state enterprise Lvivugol has signed an agreement with Gelikon Company LLC on the delivery of flight chain valued at 3.2 million UAH. The state enterprise also purchased some spare parts for conveyor belts valued at 1.9 million UAH from the same company. The length of the chain is 1600 m, with the size of…Details
In January-March Vysochaishiy received 3.207 billion rubles of revenue, up by 52% YoY. Sales profit reached 1.419 billion rubles, up 2-fold YoY. Net profit increased by 41%, to 1.005 billion rubles. As of March 31, the company accounts receivable totaled 1.132 billion rubles. (Ukrainian metal)Details
In January-March Zabaikalye region mined 18322 tons of lead and 10935 tons of zinc, up by 1.6% and by 21.7% YoY respectively. Two companies mine for lead and zinc ores in the region – Novo-Shirokinsky Mine and Baikalrud LLC. Last year the former produced 3976 tons of lead and 6718 tons of zinc, while the…Details
In January-April Polyus Aldan, operating in the Aldan district of the Republic of Sakha (Yakutia), mined 2 tons of gold, up by 157 kg YoY. The company has overfulfilled its own target by 134 kg. In Q1 gold output increased by 13% YoY, to 46.5 thousand ounces. Last year the company mined 171.5 thousand ounces…Details