Full-scale operations in Kyzyl, a large gold mine in the East Kazakhstan region, will start in 2019. “Using state-of-the-art technologies, the Bakyrchik Ore Mining and Processing Enterprise is developing a gold deposit with a capacity of 2 million tons of ore per annum. The project will reach the ultimate capacity in 2019 “, Deputy Head…Details
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As of March 1, Magadan region obtained 2516 kg of gold, up by 18% YoY. At present only ore gold is mined. Alluvial season will start in May. Silver output so far has totaled 101.2 tons, down by 13.7% YoY. The decrease, seen since last year, has to do with the scheduled drop in output…Details
The auction for the sale of the insolvent KVV Liepajas metalurgs rolling mill equipment was concluded with the victory of Austrian Smart Stahl GmbH, as confirmed by insolvency administrator Guntars Koris. The Austrian company won the auction with its price of EUR 1.57 million (without VAT) or EUR 1.9 million (with VAT). Koris says that…Details
In January-February Russia produced 636 thousand tons of steel structures, down by 14% YoY. According to the Federal Service of State Statistics, in February output increased by 10.4% MoM. Aluminum structures manufacture dropped by 12.8%, to 8 thousand tons. (Ukrainian metal)Details
In January-February Russia increased rolled metal output by 3.3% YoY, to 10 million tons. In February output dropped by 6.9% MoM, but grew by 2.3% YoY. According to the Federal Service of State Statistics, pig iron manufacture totaled 8.6 million tons, up by 1.7% YoY, with February results up by 1.1% YoY, but down by…Details
In 2017 Zaporizhstal decreased profits by 15.4% YoY, to $170 million (4.5 billion UAH). According to Metinvest, the company revenue increased by 34.4%, to $1.775 billion, while EBITDA dropped by 18.2%, to $135 million. Metinvest owns 49.9% of Zaporizhstal, 24% of Zaporozhye Iron Ore Complex, 42.8% of Zaporozhkoks and 49.2% of Zaporozhogneupor. At the same…Details
Metinvest works on the Ukraine-uncontrolled territory, that were seized in March 2017, last year increased losses 10-fold YoY, to $352 million. According to the group, as of March 15, 2017, the cost of assets of Yenakievo Iron and Steel Works, Metalen, Makeevka Iron and Steel Works, Krasnodonugol, Khartsyzsk Pipe Works, Komsomolskoye Ore Group and Donetskkoks…Details
In January-February Ukrainian metal companies produced 2977 thousand tons of rolled metal, of which 2643 thousand tons, or 88.7% were exported. According to Ukrmetallurgprom, local customers received only 334 thousand tons (11.3%). In January-February 2017 Ukraine produced 3188 thousand tons of metal and exported 2536 thousand tons (79.5%), with the rest (652 thousand tons or…Details
The illegally nationalized Kerch Iron and Steel Works needs employees. According to the HR office of the company, it is going to hire machine operators, turners, milling machine operators, crane operators, planers, punchers, mechanics, etc. The usurpers promise monthly bonuses in addition to salary. (Ukrainian metal)Details
Severstal has bought out all the remaining eurobonds with maturity in 2018. According to the group statement, it has paid $548.62 million for them. “Thus, our obligations to the bond holders have been completely fulfilled”, the company said. Eurobonds valued at $600 million were issued by Steel Capital SA in 2013 with the interest rate…Details
Kara-Balta mining plant may start working in the near future, the Mining and Metallurgical Trade Union reported. According to it, the management of the plant agreed with Canadian investors on cooperation in the development of uranium deposits Tash-Bulak and Kyzyl-Ompul. Thanks to this, it will be possible to significantly increase production volumes and reach profits.…Details
On March 19 the state enterprise Lvivugol cleared the salary debt for January to its employees. According to a company representative, it has received a tranche of 15 million UAH from the state company Ugol Ukrainy, which allowed it to completely pay out the debt. Lvivugol will also be able to pay 12% of the…Details
The Ukrainian Prime Minister Vladimir Groysman has sent a letter to the US government asking it to remove Ukrainian metal products from 25% duty sanctions. On March 8 Donald Trump announced the imposition of a 25% duty on metal from all countries, except for Canada and Mexico, to protect the local market. In 2015 Ukraine…Details