The net profit of Russian steelmaker NLMK jumped by 55% YoY, to $1.45 billion in 2017, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on February 20. Revenue grew by 32%, to $10.065 billion due to an increase in average prices for metals products, a growth of sales volumes,…Details
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In January Kazakhstan’s production of raw gold and semi-processed gold, or in powder form, increased by 8.7% YoY and amounted to 5,978 kg. According to the Statistics Committee of the Kazakh Ministry of National Economy, in the reporting period the production of raw silver and semi-processed silver, or in powder form, was equal to 59,644…Details
The state mines in Donbas have received 365 million UAH transferred to partially clear salary debts. Vice-prime-minister Vladimir Kistion thanked the ministries involved for quick solving of the problem. Still, miners are striking at all the four mines of the state enterprise Selidovugol. They demand clearing their January salary debt. (Ukrainian metal)Details
A new shop to produce metal wares valued at 3.2 billion rubles will be created in the Abinsk district of Krasnoyarsk region. The shop will produce some 200 thousand tons of wire and rebars and will provide 400 jobs. “Output-wise Abinsky Electrometallurgical Works is already among the global leaders, and its products are well known…Details
Within the Industrialization map the South-Kazakhstan region will carry out 20 projects valued at 40 billion tenge. As the result, some 1500 jobs will be created, and the volume of industrial output will reach 920 billion tenge. In particular, according to the region governor Zhanseit Tuymebayev, a metal works will be constructed. Investments will total…Details
KAZ Minerals is pondering the acquisition of the Baimskoye copper-gold deposits in Russia from Roman Abramovich. The Baimskoye reserves are estimated at 9.6 million tons of copper with average contents of 0.43% and 16.5 million ounces of gold (0.23 g per ton). Investments in the deposit could reach $1.8 billion. The project envisages the construction…Details
In January KMZ shipped 2 railroad cars (120 tons) of ferromanganese to Mongolia. The shipping of 2 more cars to Darkhan Metallurgia Ltd is planned for February. Following the successful negotiations with Divatsogt, KMZ will supply ferromanganese to Mongolia on constant basis. (Ukrainian metal)Details
Polymetal International plc has concluded an agreement on increasing its share in the Prognoz silver deposits to 50% by acquiring 45% for $72 million to be paid in Polymetal shares. Prognoz is the largest undeveloped deposit of primary silver in Eurasia. Its resources are estimated at 292 million ounces of silver with the content of…Details
Evraz and the Russia Railways have concluded a new long-term agreement on the delivery of rails. The document will be valid for 5 years. According to the agreement, Evraz will supply 3.2 million tons of products valued at 111.7 billion rubles to RZhD. The contract stipulates the gradual increase of 100-meter rails deliveries to 360…Details
Ukrvtorchermet has applied for debt restructuring procedure. The volume of the debt is not disclosed. Ukrvtorchermet procures and processes ferrous metals scrap and waste. Metalinvest Ltd LLC owns 98.0344% of the company. (Ukrainian metal)Details
In January Russia produced 4.5 million tons of pig iron, down by 0.9% MoM, but up by 2.2% YoY. According to the Federal Service of State Statistics, rolled metal output increased by 3.5% YoY, but dropped by 5.8% MoM, to 5.1 million tons. Pipe manufacture reached 0.954 million tons, up by 14.9% YoY, but down…Details
In January Zabaykalye region decreased lead output by 4% and zinc – by 3% YoY, while tungsten concentrate output dropped by 37%. As of February 1, the region yielded 87.8 tons of tungsten concentrate. Only Novoorlovsky GOK is mining for the concentrate at present. Lead and zinc output reached 4400 and 2580 tons respectively. Last…Details