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Russia: Severstal launches major new production line at Cherepovets Steel Mill

PAO Severstal, one of the world’s leading vertically integrated steelmaking and mining companies, has launched a production line for polymer-coated rolled steel products at Cherepovets Steel Mill Metal Coating Workshop number 3 (MCW No. 3). The launch ceremony was attended by Alexey Mordashov, Chairman of Severstal’s board of directors, Alexander Shevelev, CEO of Severstal, Oleg…

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Russia: Finance Ministry to increase sanctions for illegal precious metals mining

The Ministry of Finances suggests increasing the volume of sanctions for the breach of precious metals and stones mining, using and storing rules. The maximum fines for companies and individual entrepreneurs could increase 5-fold, to 250 thousand rubles, for officials – 4.7-fold, to 70 thousand rubles. The decision is aimed at decreasing the grey market.…

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