Russia: Natalka gets first Dore gold

Natalka Mining and Processing Works, the main new project of Polyus, has received the first batch of Dore gold. The company is testing the new machinery. Polyus expects the project to reach full capacity by late 2018. Natalka gold-extracting factory with the capacity of 10 million tons of ore is the largest in Russia. It…

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Russia: S&P improves TMK rating

S&P Global Ratings has improved the TMK rating to the Stable. The agency has also confirmed the company long-term ratings in foreign and local currency on the level of B+. “The Stable forecast shows our expectation of the company to continue making efforts to decrease the share of loan funds”, the agency said. According to…

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Russia: Fitch downgrades outlook for ChelPipe’s BB- rating to Negative

Global rating agency Fitch has downgraded outlook for a BB- long-term issuer’s default rating of Russia’s Chelyabinsk Pipe-Rolling Plant, or ChelPipe, to Negative from Stable, it said in a statement. The Negative outlook reflects Fitch’s wariness about ChelPipe’s ability to reduce liabilities and the overall debt to funds from operations (FFO) ratio from 4x at…

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