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Olkon has purchased a license to develop the Pechegubskoye deposit. The reserves are estimated at 80 million tons of iron ore. “The purchase of the license is an important step for the development of the Olenegorsk GOK. We will start design work soon”, Olkon managing director Denis Golubichniy said. Additional prospecting work at the deposit…
DetailsIn January-June TMK decreased pipe sales by 3% YoY, to 1.989 million tons. In particular, the sales of seamless and welded pipes dropped by 3% and by 4% respectively. At the same time the sales of large-diameter pipes increased by 48%. Sales of OCTG pipes remained almost unchanged at 948 thousand tons, growing in Russia…
DetailsIn July Russian Railroads transported 108 million tons of cargo, up from 101.6 million tons in June. In January-July throughput totaled 741.6 million tons, down by 1.3%. Iron and manganese ore accounted for 69.3 million tons, up by 3.3%. Transportation of ferrous metals dropped by 4%, to 44.2 million tons, and scrap – by 0.1%,…
DetailsThe shareholders of the Russian aluminum producer RUSAL voted for re-registration of the company to Russia from the Jersey Island at an extraordinary meeting on August 1, according to a statement on the Hong Kong Stock Exchange. After changing the jurisdiction, the company will attain an international status and will be able to carry foreign…
DetailsIn January-June Ferrexpo received $270.35 million of net profit, up by 77.6% YoY. The growth is mostly due to the higher ore prices and the increase of sales. Revenue went up by 28%, to $787 million, and EBITDA – by 59%, to $372 million. (Ukrainian metal)
DetailsIn July Ukraine produced 1.7 million tons of steel, up by 2.6% MoM. Pig iron output grew by 2.9%, to 1.57 million tons, but that of rolled metal dropped by 0.9%, to 1.49 million tons. In January-July Ukraine produced 12.64 million tons of steel, 11.82 million tons of pig iron and 10.97 million tons of…
DetailsPolymetal will continue looking for buyers for the Lichkvaz deposit, its last asset in Armenia. Chaarat Gold had a buy-back right, but decided against the purchase because of the high arsenic content in the ore. “This is a good asset. We consider the chances of selling it as high”, Polymetal said. Chaarat received the right…
DetailsIn May Russia imported 13.3 thousand tons of ferrosilicomanganese, down by 32.4% MoM, but up by 22% YoY. Deliveries from Georgia dropped by 33%, to 7.4 thousand tons, but from Kazakhstan grew by 8%, to 3.8 thousand tons. In 5 months ferrosilicomanganese imports totaled 84.2 thousand tons, up by 17.3% YoY. In monetary terms since…
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