Since the start of the year Kanchalan-Amguem Area LLC (KAP) has extracted 50.2 kg of gold at the Gorny site in Chukotka. Silver output totaled 225 kg. By the end of Q2 the company intends to have mined 505 kg of gold. The company started operating at the site in January. Its resources are estimated…Details
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Since the start of the year Russky Ugol (Russian Coal) has increased coal output in Krasnoyarsk region by 13% YoY, to 350 thousand tons, at the Sayano-Partizansky pit alone. By the end of the year the output will have increased by 20%. In Q1 75% of all coal mined was exported. Last year the company…Details
In January-March VSMPO-Avisma received 18.033 billion rubles of revenue, up by 1% YoY. Net profit dropped by 20%, to 4.069 billion rubles, mostly because of the strengthening of the Russian ruble exchange rate as to Q1 2017. Last year the group net profit decreased 2-fold YoY, to 12.8 billion rubles. (Ukrainian metal)Details
Kuzbassrazrezugol intends to construct 2 processing factories – at the Bachatskiy and Krasnobrodksy open pits. According to UGMK-Holding LLC CEO Andrei Kozitsyn, the project will start after 2020, when the processing factory at the Taldinsky open pit is commissioned. “Thus we will be processing all the coal we mine. In 4 years we will be…Details
NLMK will construct another continuous-casting machine to replace the one, operating since 1976. SMS group will supply all the necessary machinery. The capacity of the new CCM will be 2 million tons per year. The new machine will allow NLMK producing billets with the thickness of 400 mm and width of 2800 mm. The CCM…Details
The prices of main precious metals decreased in Azerbaijan on May 21, according to the data published by the Central Bank. The cost of gold decreased by 6.8755 manats, to 2189.753 manats per troy ounce compared to the price on May 18. The cost of silver decreased by 0.0497 manats, to 27.8482 manats per ounce.…Details
ArcelorMittal Kriviy Rih railroad shop resumed operation after a 3-day strike. According to the union, the management agreed to increase the wages to the railroad employees: to 18 thousand UAH to locomotive drivers, 15 thousand UAH to their assistants and 14 thousand UAH to shunters. At the same time, employees of the mining department railroad…Details
Russian aluminum giant UC RUSAL has not received a notification of resignation of Oleg Deripaska, the company said in a press release on May 21. “As at the date of this announcement, the company has not received any formal resignation from Mr. Deripaska,” RUSAL said. On May 18 En+ Group announced resignation of Deripaska from…Details
The London Metal Exchange (LME) plans to lift a ban on trading of some products of Russian aluminum giant UC RUSAL that was introduced earlier due to the U.S. sanctions, Bloomberg reported on May 21 citing Hong Kong Economic Journal. LME is currently in talks with the government to study a possibility of trade of…Details
Last week, the price of one ounce of gold in Azerbaijan decreased by 52,343 manats or by 2.3336%. Accordingly, the average price of one ounce of gold stood at 2,211.7221 manats. The price of one ounce of silver decreased by 0,499 manats or by 1.7572%, to 27.97428 manats. The price of one ounce of platinum…Details
In 2018 Polymetal Int plans to obtain 16.3 tons of gold equivalent in Magadan region. In Q2 the group intends to resume the seasonal operation of the Birkachan heap leaching site. According to the company CEO Vitaliy Nesis, by 2020 output will have increased due to the commissioning of the new mine at the Teploye…Details
Bystrinsky Mining and Processing Works has started selling magnetite (iron ore) concentrate. The first batch of 680 tons has been shipped to China. In May some 10 thousand tons of the concentrate will be sold. In April the works started selling copper concentrate. 4.5 thousand tons have been sold to China. BGOK also intends to…Details
The council on the strategic development of the MMK Group has approved the project on the construction of the blast furnace slag dry cooling machine. The cost of the project is 3 billion rubles. It will undergo an expertise soon. The project will be carried out by Shlakservice LLC, a part of MMK. (Ukrainian metal)Details