The budget funds earlier provided to Arcelor Mittal may be withdrawn, Vice-Minister of National Economy of Kazakhstan Bauyrzhan Bekeshev said during the enlarged meeting of the Committee for Economic Policy, Innovative Development and Entrepreneurship of the Senate. The topic of the discussion was the bill on “Ratification of the agreement of voluntary reconciliation between the…Details
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Irshansk Mining and Processing Works has ordered Imex Minerals LLC the delivery of lime carbonate valued at 29.74 million UAH. This year the company will supply 2950 tons of soda ash at 10080 UAH per ton. Earlier VostGOK bought soda ash from another company at 7901 UAH per ton, or 25% cheaper. In April 2017…Details
The supervisory board of the Severniy Iron and Steel Works has relieved Pavel Timoshenko of his duties as the general manager. The acting CEO of the company is now the Metinvest Holding mining assets director Andrey Skachkov. Timoshenko was dismissed on February 19, while Skachkov was appointed from February 20. Timoshenko has been the SevGOK…Details
In 2017 Uralcable produced 102 thousand km of car cable. In 2016 the output was 73 thousand km. The growth of output has to do with the improvement of technological effectiveness and the automatization of manufacturing processes. “This year we intend to increase output first and foremost due to the replacement of machinery. In H2…Details
Oleg Deripaska intends to become the president of Norilsk Nickel. According to a source, it is because of the Nornickel plans that Deripaska has left the president seat in Rusal and En+. “The experience of cooperating with Vladimir Potanin shows, that only changes in the balance of power could provide for the maximum growth of…Details
The net profit of Rusal in 2017 increased by 3.6% YoY, to $1.222 billion. According to the company statement, EBITDA grew by 42.4%, to $2.12 billion, while revenue increased by 24.9%, to $7.224 billion. The company net debt as of December 31, 2017 was $7.649 billion, down by 9.2%. Rusal accounts for around 7% of…Details
The Eurasian Development Bank (EDB) and Bogatyr Komir Company signed a loan agreement to finance Bogatyr Komir’s investment program aimed at modernizing coal production processes at the Bogatyr mine, the press service of EDB said in a message. The document was signed by Andrey Beliyaninov, Chairman of the Management Board, from the EDB, and Murat…Details
Karabashmed, a part of the Russian Copper Company, has celebrated the 20-years anniversary of creation and resumption of manufacture. Karabash Copper-Smelting Works was created in 1910. It was one of the main suppliers of copper for the Russian industry, military in particular. But for almost 100 years the company has been operating without gas-purifying systems,…Details
RM-Steel has resumed the manufacture of sections. The products are intended for the LADA 4×4 (Niva 21214) project. The sections will be produced according to ISO 9001:2015 and IATF 16949:2016. The main goal of the company for the coming years is to create favorable conditions for the development of machine-building and automobile enterprises. (Ukrainian metal)Details
KMAruda has passed the audit for the correspondence to ISO 9001:2015 (quality management), ISO 14001:2015 (environment management system) and OHSAS 18001:2007 (professional safety and health management). The certification audit was carried out by SGS Vostok Ltd., a Russian subsidiary of SGS (Switzerland). KMAruda started implementing the management systems in early 2017. “The granting of the…Details
The Onexim Group of Mikhail Prokhorov has left the ranks of Rusal shareholders, according to the company statement on the Hong Kong stock exchange. On February 16 Onexim’s share in Rusal decreased from 6% to 0%. At the same time the share of Zonoville Investments Limited increased to 26.5% from 20.5%. Onexim, which owned 17%…Details
In 2017 Metinvest compensated for the decrease in demand for concentrate on the domestic market with exports. The first half-year of 2017 was difficult as to iron ore raw materials sales. “We stopped supplying iron ore raw materials to 4 Ukrainian companies – Donetskstal, Yenakievo Iron and Steel Works, Alchevsk Iron and Steel Works and…Details
Metinvest Group forecasts the growth of metal consumption on the domestic market at 8%. “In 2017 the domestic demand grew by 5-6%. This year we expect it at the level of 8%. We hope that the infrastructure construction and metal processing provide for the growth”, Metinvest sales director Dmitry Nikolayenko said. Last year the group…Details