The prices of the main precious metals decreased on April 24, according to the data published by the Central Bank. The cost of gold decreased by 12.988 manats, to 2255.339 manats per troy ounce compared to the price on April 23. The cost of silver decreased by 0.6679 manats, to 28.373 manats per ounce. The…Details
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In 2017 Vysochaishiy received $85 million of net profit, down by 3.4% YoY. EBITDA grew by 17.4%, to $128 million. Revenue totaled $271 million, up by 32.8%, including $261 million from the gold sales, up by 27.9%. Last year the company sold 218 thousand ounces of gold, up by 33.7%. The average price increased by…Details
Agarak Copper-Molybdenum Works intends in short-term to increase capacity, in particular, of its processing factory from 3.5 million tons to 4.1-4.5 million tons of ore per year. In the long-term the company plans to reach 6 million tons of ore processing per year. Last year the company purchased 13 MT-86 dump trucks, a SD-32 bulldozer…Details
Polymetal Int intends to become the sole owner of the Prognoz silver deposits in the Republic of Sakha (Yakutia) by purchasing another 50% in the project. According to Polymetal chief executive director Vitaly Nesis, the deal could be struck in Q2. On April 13 the company announced the finalization of the deal to buy 45%…Details
Novgorodsky Iron and Steel Works has put into operation a new Diemme filter-press within the modernization program of the slurry site of the copper electrolysis shop hydrometallurgical department. The machinery allowed automating the process of electrolyte purification of slurry. The cost of the new machinery is some 6 million rubles. (Ukrainian metal)Details
Since April Krasniy Octyabr Volgograd Iron and Steel Works has started receiving the billets for rerolling from Zlatoust Electrometallurgical Works. This will allow the sheet-rolling shop of VMK to quickly and in full provide for fulfilling orders. In January-February Krasniy Octyabr received some 600 tons of slabs from ZEMZ. (Ukrainian metal)Details
In January-March VIZ-Stal increased metal output by 10% YoY, to 43 thousand tons. The company capacities were 99% loaded. Transformer steel sales grew by 13%, to 41 thousand tons. The positive dynamics has to do with the growth of the world demand for transformer steel. Exports accounted for 80% of sales. The key destinations were…Details
The U.S. can lift sanctions against Russian aluminum producer UC RUSAL if businessman Oleg Deripaska cedes the control, according to documents of the Office of Foreign Assets Control (OFAC). The Treasury Department also prolonged a term for U.S. citizens and companies to terminate all contracts and finish the cooperation with RUSAL until October 23 from…Details
Following the US sanctions, as early as in June Rusal could decrease the number of its employees at Bratsk and Irkutsk Aluminum Works by 10-15%. This will happen if the company fails to sell in China all the aluminum previously exported to other destinations. The main sales markets for Rusal are EU (45%), while US,…Details
In 2017 Poltava Mining and Processing Works received the consolidated net profit of 4.27 billion UAH as opposed to the consolidated net loss of 40.44 million UAH in 2016. According to the company statement, its EBITDA last year grew 16-fold, to 6.04 billion UAH from 377.42 million UAH in 2016. The net income increased by…Details
The government of Ukraine and Eurocommission have started negotiating the non-inclusion of Ukraine into the list of countries as to which the EU could impose limitations on metal products supplies. “We have spoken of the special protective investigation on the import of metal. That’s some 26 items”, deputy minister of economic development and trade, trade…Details
In 2017 Magnitogorsk Iron and Steel Works invested 4,157.8 million rubles in environmental initiatives. From 2018 to 2025 the company plans to spend more than 38 billion rubles on environmental protection. In 2017, 2,578 million rubles were invested in the construction and reconstruction of facilities aimed at improving air quality. As a result of the…Details
The state enterprise Yuzhnodonbasskoye Mine Group No. 1 has cancelled the offers of Erlight LLC and Alfa NT LLC, having cancelled the purchase of conveyer belts with the expected value of 9.25 million UAH. On January 17 the Mine Group announced the purchase of 3 thousand meters of conveyer belts and 3 complexes to operate…Details