Substantial construction works have been completed on the inclined conveyor barrel of the Vorgashorskaya mine of Vorkutaugol, one of the largest coal mining companies in Russia, a subsidiary of Severstal. The company has started the preparation of the coalmine, from which coking coal will be mined. The construction of ICB unit at the Vorgashorskaya mine…
DetailsA concept for reforming the country’s coal industry until 2020 approved by the government envisages the creation of state-owned enterprise National Coal Company, which will receive 33 state-owned coalmines, Deputy Prime Minister Volodymyr Kistion said at a first meeting of the interagency working group for settling crisis in coal industry. “It is easy to solve…
DetailsRail transportation of coal exported from Russia in January-June increased by 16.4% YoY, to 94.8 million tons. The railway transport statistics show that the largest coal exports volume was hauled to the Far East regional ports and border crossings points. According to Rosstat, in the first half of 2017 coal production in Russia increased by…
DetailsIn January-June Polyus increased gold output by 12%, to 938 thousand ounces (29.17 tons), mostly thanks to the growth of manufacture at Olimpiada and Verninskoye deposits. Gold sales increased by 17%, to 983 thousand ounces, including 71 thousand ounces in concentrate from Olimpiada. Sales revenue reached $1.217 billion, up by 14%, at the average price…
DetailsIn January-July the St. Petersburg subsidiary of the First Cargo Company transported 171.3 thousand tons of scrap, up 1.5-fold YoY. The company throughput in the segment increased by 60%, to 97.8 million ton-km. “The increase of scrap transportation via Oktyabrskaya railroad has to do with the high demand for scrap on behalf of Severstal and…
DetailsArcelorMittal Temirtau has ordered the services of mining coal and loading it into railroad cars, but has not paid the contractor over 36 million tenge. The company filed a complaint and the court ordered AMT to fulfill its contract obligations. (Ukrainian metal)
DetailsOskol Electrometallurgical Works is going on with its large-scale investment project – the construction of the reducing-sizing mill in its bar-rolling shop No. 2. Investments total 800 million rubles, and the output of rolled metal will as the result of the modernization increase by 67 thousand tons per year. The main and auxiliary machinery has…
DetailsIn January-July Azovstal Iron and Steel Works produced 2.15 million tons of rolled metal, up by 11.5% YoY. According to the company statement, steel output increased by 14%, to 2.436 million tons, pig iron – by 17%, to 2.153 million tons. In July Azovstal produced 251 thousand tons of rolled metal, 270 thousand tons of…
DetailsDneprovsky Iron and Steel Combine is operating 2 blast furnaces but is preparing the third one for operation. According to the company statement, the BF No. 1M was blown on July 22, and it was the only BF to produce pig iron in July. BF No. 9 was blown on July 23, and started producing…
DetailsSince the start of the alluvial gold season HERGU has obtained 247 kg of the precious metal, down by 11% YoY. As of early August 2016, the company has obtained 278 kg of gold from its sites, with the same result in 2015. This year HERGU intends to get 700 kg of gold, down by…
DetailsSeverstal, one of the world’s leading steel and steel-related mining companies, has created a hybrid Data Lake as part of its digital strategy to secure the company’s competitive advantages in the long-term. The infrastructure is designed to store company functional data files for subsequent processing and use in Severstal’s data analysis, machine learning and artificial…
DetailsChina National Gold Group (China Gold) is interested in Musa Bazhayev’s Russian Platinum’s projects in Russia and Kyrgyzstan with investments of up to $4.6 billion. These are the Chernogorskoye and Norilsk-1 polymetallic fields on the Taimyr Peninsula and the Jerooy gold deposit in Kyrgyzstan. Russian Platinum confirmed talks with China Gold, but said it was…
DetailsRussian billionaire Mikhail Prokhorov’s Onexim Group is selling a 7% stake in aluminum giant UC RUSAL to a company affiliated with Sual Partners of Viktor Vekselberg and Leonard Blavatnik for $503.9 million, RUSAL said in a statement on August 11. At present, Onexim holds 13.7% in RUSAL and Sual Partners has a 15.8% stake. As…
DetailsRussian retailer Magnit and metals giant Norilsk Nickel were put on Forbes’ list of the world’s 100 most innovative companies, according to a statement on Forbes’ Web site. Magnit obtained the 53rd place on the list and Norilsk Nickel holds the 63rd position. Software developer Salesforce regained the top spot as the world’s most innovative…
DetailsU.K.-based mining giant Evraz, which operates mainly in Russia, plans to keep the ratio of its net debt to earnings before interest, taxes, depreciation and amortization (EBITDA) at 2 in 2017, Vice President Nikolai Ivanov said during a conference call on August 10. “We plan no serious changes of the net debt level at the…
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