ArcelorMittal SA, Vedanta Resources and a group comprising Russia’s VTB and top Indian steelmaker JSW Steel have bid for bankrupt steelmaker Essar Steel India, Reuters reported quoting a joint statement of the companies. Essar Steel is among a dozen of India’s biggest debt defaulters that were pushed into the bankruptcy court last year after a…Details
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Smart Stahl GmbH (Austria) has confirmed the purchase of the rolling mill from the insolvent KVV Liepājas metalurgs for 1.6 million euros. The equipment will be handed over to a trade company, created by Smart Stahl. The deal will be finalized in early May. (Ukrainian metal)Details
Russian steelmaker Severstal plans to invest 8 billion rubles to increase output of flat hot-rolled and cold-rolled products by 500,000 tons and to launch a new product, rolled metal with a width of 1,850 millimeters, the company said in a statement on April 3. Severstal plans to buy and upgrade equipment, and has already signed…Details
Severniy Mine, the main supplier of raw materials to Kola Iron and Steel Works, will be in development until 2060. “We intend to further develop the south underground site and reach the next horizon – 740 meters, which will allow us to prolong its operation till 2060”, Kola mineral and raw materials complex deputy CEO…Details
Russian companies are ready to sell more metal products via OAO Belarusian Universal Commodity Exchange (BUCE). The relevant statement was made by President of the Russian Union of Metal and Steel Suppliers Alexander Romanov during the roundtable session held to discuss the production and consumption of ferrous and non-ferrous metals in the Republic of Belarus,…Details
The prices for the main precious metals increased in Azerbaijan, according to the data published by the Central Bank. The cost of gold increased by 7.0295 manats, to 2260.337 manats per troy ounce in Azerbaijan compared to the price on March 30. The cost of silver increased by 0.1057 manats, to 27.931 manats per ounce.…Details
Bakhmut Non-Ferrous Metals Processing Works has put into operation a new line of continuous extrusion and vertical casting. The company invested $2 million in the project. The new machinery will increase rolled copper output. The Bakhmut Works is one of the largest companies in Europe. It can produce over 1 thousand types and sizes of…Details
In January-February Armenia decreased metal output by 10.8% YoY. According to the National Statistics Service, ferromolybdenum output dropped by 38.6%, to 713 tons, with 368 tons produced in February, up by 6.7% MoM. Molybdenum concentrate manufacture decreased by 0.7%, to 1791 tons (834 tons in February, down by 12.9% MoM). Converter copper output grew by…Details
Dalnevostochnoye PGO, a part of the state geological holding Rosgeologia, in the new season will start prospecting works at three promising gold sites in Khabarovsk Territory. By the end of the year the prospectors will have to complete the research at the Poniysky site. The prospecting for the gold-quartz and gold-copper-porphyry ores on the site…Details
Uralelectromed has completed the construction of the transport machine repair shop. “The shop has all the necessary machinery allowing to carry out repairs of any complexity. We can repair a dozen machines at the same time”, the shop director Sergey Popov noted. The new shop was created on the basis of the reconstructed premises of…Details
In February in order to secure economic safety and stable position on the market Zagorsky Pipe Works purchased strip carriers. The number of wagons and the sum of investments are not disclosed. The wagons can provide for the transportation of over 50 thousand tons of rolled sheet per month. This corresponds to the maximum need…Details
Last year the volume of the Ukrainian metal market increased by 5-6%. This year Metinvest expects the increase of consumption by 8%. “We hope that the infrastructure construction and the metal processing industry will help in that”, Metinvest sales director Dmitry Nikolayenko said. The company has a developed sales network, selling historically high volumes of…Details
Metinvest decided to shut down Donetskkoks on the temporarily uncontrolled territory of Ukraine because of the inability to secure its profitable operation. The decision to liquidate the company was taken on March 29. All the shareholders voted in favor. After all the creditors’ claims have been satisfied, the company might have some assets valued at…Details