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Hort-V LLC (Moscow), which owns a license to develop the Ukonikskoye deposit in Zabaikalye region, intends to start extracting gold in 2023. Annual ore output will reach 800 thousand tons. The company plans to construct a gold-extraction factory with the design capacity of 2 tons per year in the first phase. Later the capacity will…
DetailsSolntsevsky coal pit has put into operation a new Uralmashzavod EKG-20 excavator. This is the first Russian machine in the Eastern Mining Company fleet. The excavator was made to order and delivered in December 2018. The ladle of the machine has an increased volume of 22 cubic meters as opposed to 20 cubic meters in…
DetailsFincraft Resources of the main Petropavlovsk shareholder Kenes Rakishev will invest $200-300 million in the development of mines at the Gornostayevskoye, one of the largest cobalt and nickel deposits in Kazakhstan. The cluster will start operating in 3 years, with metal to be exported to South Korea, China and Russia. The deposit reserves are estimated…
DetailsFrom September, ArcelorMittal Poland will shut down its sinter factory, blast furnace and converter shops at the Krakow plant. The shut down will last for months or even quarters. At the same time the company will not fire 1.2 thousand employees. They will be transferred to rolling shops, other ArcelorMittal enterprises, or to subcontracting companies.…
DetailsRussian steelmaker Novolipetsk Steel (NLMK) plans to reduce steel production to about 16 million tons in 2019 from 17.493 million tons in 2018, President Grigory Fedorishin announced. “The amount of steel production will fall at the Lipetsk facility because a big blast furnace and a big converter will shut down for repairs. We intentionally united…
DetailsOver the week, the price of one ounce of gold has increased by 9.996 manats or by 0.4%. The average price of one ounce of gold stood at 2,184.0209 manats. The price of one ounce of silver decreased by 0.1599 manats or by 0.6%, to 24.6227 manats. The price of one ounce of platinum went…
DetailsIn 5 years Zaporozhogneupor, the largest manufacturer of refractories in Ukraine, has invested over 30 million UAH in the projects to maintain its machinery. The company was the first in Ukraine to commission a line to produce refractory concretes and masses. Thanks to autoclave bag filters, purified air is discharged during its operation. Air pollution…
DetailsPrices of precious metals increased in Azerbaijan on May 31 compared to the prices of May 30. The price of gold grew by 25.0325 manats, to 2,197.539 manats per ounce. The price of silver went up by 0.2355 manats, to 24.6979 manats per ounce. The price of platinum increased by 2.805 manats, to 1,350.31 manats…
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