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The Basmanniy Court of Moscow has prolonged for 3 months the arrest of the Industrial Union of Donbass CEO Oleg Mkrtchan accused of embezzlement. Mkrtchan will be under arrest until July 5. The case against him is connected with embezzlement of funds given to ISD by Russian banks several years ago. (Ukrainian metal)
DetailsThe Ministry of Energy and Coal Industry has increased the price of coal, mined by state enterprises, by 4.54%, or by 110 UAH, to 2535 UAH per ton (without VAT and transportation expenses) from April 2. The energy minister Igor Nasalik noted that coal witnessed the price increase from December 2017 through March 2018, and…
DetailsA decree No. 8226 has been registered in the Verkhovnaya Rada. According to one of the authors of the document, the chairman of the Parliament Committee on industrial policy Victor Galasyuk, the decree suggests prolonging the so-called metal law and increasing the export duty on scrap to 42 euro per ton. “This is equal to…
DetailsIn 2017 Asha Iron and Steel Works received 387.3 million rubles of net loss as calculated under Russian Accounting Standards, as opposed to the net profit of 98.51 million rubles in 2016. In Q4 2017 AMZ received 759 million rubles of losses, as opposed to 19 million rubles of net profit in Q3. Revenue in…
DetailsChelyabinsk Zinc Works plans to finish 2018 without losses, CEO Pavel Izbrekht declared on April 4. “Concerning profit of the plant in 2018, it is too early to say, everything depends on prices on the London Metal Exchange, but we plan to work without losses,” Izbrekht said. The plant’s net profit in 2017 amounted to…
DetailsThe state enterprise Mirnogradugol has concluded an agreement with the Mirnogradskaya Central Processing Factory for the services of coal processing valued at 116.12 million UAH. The auction has been cancelled two times, as there has been only one participant. By April 2019 the company will have processed 800800 tons of coal at 145 UAH per…
DetailsThe government of Mexico has announced the implementation of the antidumping duties on the import of carbon steel pipes from Ukraine, South Korea, Spain and India. The investigation was carried out at the request of a local company and covered the trade operations from April 2013 through March 2016. (Ukrainian metal)
DetailsIn 2017 Electrozinc received 197.7 million rubles of profits, down by 38% YoY. At the same time, in 2015 the company saw losses of 9 million rubles, and in 2014 – 895 million rubles. Last year the company revenue dropped by 7% YoY, to 4.91 billion rubles. Sales profits totaled 739 million rubles, down by…
DetailsIn 2017 Ufaleinickel received 3.02 billion rubles of losses, down 3-fold YoY. In 2016 and 2015 the company losses totaled 11 billion and 2.3 billion rubles respectively. Ufaleinickel saw profit only in 2014 – 186 million rubles. Revenue in 2017 totaled 785 million rubles as opposed to 6.3 billion rubles in 2016. Sales losses last…
DetailsLermontovsky Mining and Processing Works intends to resume operation on April 25, when the new machinery has been tested. Since the start of the year, the company has already shipped 51 tons of tungsten. Last year Lermontovsky GOK received a subsidy from the state (250 million rubles) to resume activities. The company purchased new machinery,…
DetailsIn 10 years Sredneuralsky Copper Works has processed over a quarter (26%) of metal slag, accumulated during 78 years of operation. According to the SUMZ chief environment engineer Marina Sycheva, each year the processing factory produces over 60 thousand tons of copper concentrate, which the works uses in its manufacture. Another product of slag processing…
DetailsIn 2017 Russian Copper Company enterprises paid over 3 billion rubles to the budget of the Chelyabinsk region, up by 50% YoY. Budgets of all levels received 5.6 billion rubles, up by 40% YoY. In 5 years the tax payments of RCC companies to the Chelyabinsk region budget increased 4-fold. Last year the enterprises invested…
DetailsThe supervisory boards of Azovstal, Mariupol Ilyich Iron and Steel Works, Zaporozhogneupor and Zaporozhkoks, all parts of Metinvest, have extended the offices of their CEO – Enver Tskitishvili, Taras Shevchenko, Sergey Gorman and Vitaly Litovka respectively – for one more year. The decisions were taken on April 2. The offices have been prolonged from April…
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