The board of directors of Asian-Pacific Bank has approved the sale of a 9.11% stake in U.K.-registered Petropavlovsk Plc, which mines gold in Russia. In December 2017 companies controlled by tycoon Viktor Vekselberg sold a combined stake of 22.3% in Petropavlovsk and 2020 bonds that might be converted into a 6.83% stake in the company…
DetailsIf in the near future the gold extracting company in Toguz-Toro district does not suspend its activities, the residents will again hold a rally, the Chairman of the rural council in Atay village, Ulanbek Sheripov, declared at a press conference on March 5. According to him, all the locals oppose the work of the new…
DetailsCyprus Barlenco Ltd, affiliated with the largest Ukrainian mining and metals group Metinvest, has announced plans to use the squeeze-out right to buy shares from minority shareholders in the group of the following private joint-stock companies (PrJSCs): Inhulets Ore Mining and Processing Plant (InGOK), Pivnichny (Northern) Ore Mining and Processing Plant (SevGOK), Central Ore Mining…
DetailsA new steel rebars works valued at $22 million was commissioned on the basis of Caspian Steel, that had been idle for the past 6 years. Aktau Steel has already created over 150 jobs, and the number is expected to double. “Azerbaijani side invested over $22 million in the restoration of the enterprise. The capacity…
DetailsSince the start of the year Alchevsk Iron and Steel Works has produced over 16 thousand tons of pig iron. “Two blast furnaces are operating, and the manufacturing process is stable. 2 coking batteries have been put into operation. Sinter manufacture has been resumed. The company started shipping pig iron to customers”, said Dmitry Bozhich,…
DetailsIn 2017 Beloretsk Iron and Steel Works received 1.004 billion rubles of net profit, up from 315.5 million rubles. In Q4 2017 BMK registered 240 million rubles of net losses, while in Q3 2017 – 424 million rubles of profit. Last year the company sold 23.932 billion rubles worth of metal, up by 2% YoY.…
DetailsThe Austrian holding company Kronospan will invest over EUR 10 million in expanding the production of metal structures in the free economic zone (FEZ) Mogilev in 2018, Kronospan representatives reported. IOOO Kronospan OSB is a resident company in FEZ Mogilev. It specializes in making oriented strand boards for civil engineering and furniture industry. The available…
DetailsIn February Russian Railroads transported 99.8 million tons of cargo, up by 3.9% YoY. According to the company press-service, in January-February the throughput grew by 3.7%, to 203.3 million tons. In particular, in 2 months RZhD transported 60.8 million tons of coal, up by 1.1%, 12.6 million tons of ferrous metals, up by 10.3%, and…
DetailsIn 2017 Vyksa Iron and Steel Works produced over 2 million tons of pipes, up by 15%. Large diameter pipes manufacture grew by 16%, to 930 thousand tons, small and medium diameter pipes – by 14%, to 1.1 million tons. Hot-rolled coils output reached a record of 1.29 million tons, up by 4%. Sheets manufacture…
DetailsThe physical volume of deals with gold on the Moscow Exchange fell by 5.3% YoY, to 5.3 tons in January-February, the exchange said in a statement. The amount of deals with silver surged to 2,461 kilograms in the period from 140 kilograms in the same period of 2017. In monetary terms, gold and silver deals…
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