Concorde Capital analyst Dmitry Khoroshun believes that Ukrainian pig iron manufacturers could profit from the US steel duties. “In 2017 Ukraine exported $406 million worth of pig iron (1.3 million tons) to US, and these deliveries are not affected by the new duties. Money-wise Ukraine exported 2 times more pig iron to US than steel…Details
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Shareholders of NLMK Group at its Extraordinary General Meeting held on March 12 voted to elect Grigory Fedorishin as the Group’s President and Chief Executive Officer (Chairman of the Management Board) for the period until June 8. Previously, NLMK Board of Directors resolved to convene the Annual General Shareholders’ Meeting on June 8, and also…Details
The cost of gold decreased by 8.15 manats (0.36%), to 2242.3765 manats per troy ounce in Azerbaijan on March 13, according to the data published by the country’s Central Bank. The cost of silver decreased by 0.6%, to 28.0018 manats per ounce, the cost of platinum by 0.37%, to 1635.434 manats and the cost of…Details
The Russia-China Investment Fund for Regional Development on March 12 signed an agreement to become a co-investor of construction of a 18.5 billion ruble uranium mine of Priargunsky Industrial Mining and Chemical Union, part of state nuclear power corporation Rosatom’s unit Atomredmetzoloto. The company plans to launch the first stage of the mine in 2023.…Details
The manufacturing complex of the gold-mining company Omchak is getting ready for operation. All the infrastructure has been prepared: roads, sites, electricity line and a settlement for 430 people. Omchak is expected to become one of the major mining companies in Zabaykalye region. The company obtained a right to develop and mine for ore gold…Details
In January-February Chukotka Autonomous District obtained 3.425 tons of gold, down by 4% YoY. Silver output dropped by 13%, to 19.546 tons. In January gold output in the district decreased by 7.3%, and silver – by 20%. 2 Kinross Gold companies, a Polymetal Company, as well as Rudnik Karalveem LLC and Rudnik Valunisty LLC mine…Details
Bratsk Aluminum Works intends to spend 1.4 billion rubles on environment protection this year. According to the company statement, last year the works used the same amount. In particular, in 2017 the company relocated citizens from the sanitary zone of the works. BrAZ invested 1.1 billion rubles in construction of 408 flats for 379 families.…Details
In 2017 United Mining and Chemical Company produced 392.2 thousand tons of ilmenite concentrate, up by 18.7% YoY. In particular, Irshansk Mining and Processing Works produced 224.4 thousand tons. Sales last year grew by 20%, to 2.769 billion UAH. Volnogorsk Mining and Processing Works increased sales by 41%, to 124 thousand tons. At the same…Details
Interpipe reports the shortage of employees in the pipe and wheel manufacture, with the combined need at 600 people. “We already see financial losses due to the absence of the employees. We cannot make the full shift at our plant in Nikolayev. I estimate the losses because of the lack of employees at 5 thousand…Details
In January-February Ukraine imported 4.015 million tons of coal, up by 63% YoY. According to the State Statistics Service, the cost of the coal imported was $516.656 million, up by 44.5%. Russia supplied $304.05 million worth of coal (or 58.85%), USA – $149.5098 million (28.94%), Canada – $48.365 (9.36%) and other countries – $14.733 million…Details
Pipe Metal Company, the major pipe producer in Russia, is awaiting a positive effect for its American subsidiary IPSCO from the duties on steel and aluminum. “We believe that the duties imposed will positively affect IPSCO business, as the company does not import steel as raw materials. As to the other TMK companies, the estimation…Details
In 2017 Sukhaya Balka received 1.174 billion UAH of losses, up 7.46-fold or by 1 billion UAH YoY. According to the company statement, its assets as of the end of 2017 totaled 2.454 billion UAH, current liabilities – 196.207 million UAH and the consolidated accounts receivable – 254.696 million UAH. On December 28, 2017 the…Details
On the eve of the holidays Paramjit Kahlon, CEO of PJSC ArcelorMittal Kriviy Rih announced an increase in the salaries for the company employees. This was communicated at the proximity meeting attended by the company managers on March 7. The specialists of the company have already started to adjust the salaries within a grade so…Details