The Russian central bank has held several gold deals on the Moscow Exchange since the start of the year, Larisa Selyutina, director of the securities and commodities department of the authority, said at a conference on March 6. “The Central Bank of Russia puts bids daily on the order book, but there were only a…Details
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The administration of the Chinese city of Hejin decided to explore coal reserves of Ekibastuz. A delegation from Hejin visited the city of Ekibastuz, Pavlodar region. As it turned out, the coal of Ekibastuz is attractive for Yangguang Company that deals with coal conversion. Last year the Chinese city was twinned with the coal capital…Details
The DCH Group of Alexander Yaroslavsky, owner of the Kharkiv Tractor Works, Sukhaya Balka and Dneporvsky Iron and Steel Works, intends to get a synergy effect of the cooperation of its three assets. “We will try to reach synergy, as DMZ produces metal, and KhTZ consumes a lot of metal. DMZ also consumes Sukhaya Balka…Details
The members of the Kirovograd regional council have allowed the Petro-Consulting LLC to mine for lithium in the Dobrovelichkovka district. The company has promised to carry out some investment projects: repair the school, build the blow well for the school, repair two medical premises, etc. According to the company, lithium mining will be carried at…Details
In 2017 Norilsk Nickel received $9.1 billion of revenue, up by 11% YoY, mostly because of the metal price growth. EBITDA grew by 2%, to $4 billion. The company net profit totaled $2.1 billion, down by 16% YoY. Capital investments increased by 17%, to $2 billion. Nornickel net debt as of late 2017 grew to…Details
Severstal – Bar Works Balakovo has mastered the manufacture of a new product – round bars of DC01 steel with the diameter of 10 mm. The manufactured hot-rolled metal fully corresponds to STO 00186217-023. This metal is used by Severstal-Metiz to produce cold-rolled sections. “The DC01 steel grade will allow us expanding our product range,…Details
MMK is carrying out a project to process slurry at the crushing factory No. 5. The idea to process slurry originated 15 years ago. The company specialists found out that slurry pond contained iron concentrate. In 2015 it was decided to develop this direction. The slurry pond reserves are estimated at 14 million tons. It…Details
Severstal has modernized the 2000-mill in the machine-building center Tyazhmash shop. “The investment project estimated at over 48 million rubles will increase the press efficiency, improve the product quality and decrease its prime cost”, Severstal Russian Steel CEO Vadim Germanov noted. After modernization the precision of forgings increased, as tolerance dropped from 10 to 3-5…Details
Belarus Iron and Steel Works had to shut down its manufacture because of the fire. The fire broke out on March 5 in the electric arc furnace shop No. 1. 30.6 thousand meters of electric cable insulation was damaged. Fortunately, there were no casualties. According to the company press service, the fire was the result…Details
Russia’s gold production rose about by 6.8% YoY, to 317.660 tons in 2017, Sergei Kashuba, chairman of the Union of Gold Producers of Russia, said on March 6. Gold producers raised their output by 6.4%, to 254.216 tons in 2017, while by-product gold production gained 11.6%, to 16.459 tons, gold scrap production went up by…Details
The cost of gold decreased by 5.53 manats (0.25%), to 2249.9633 manats per troy ounce in Azerbaijan on March 6, according to the data published by the country’s Central Bank. The cost of silver decreased by 0.6%, to 27.9995 manats per ounce, platinum by 0.6%, to 1637.2983 manats, and the cost of palladium decreased by…Details
AzovElectroStal (Mariupol) asks the Ministry of Ecology to allow it operating without a gas filter. The company is asking for a term of 7 years, within which it will take all the required environmental measures. The locals are against. In 2014-2017 the company was not operating, and the number of employees dropped from 6 thousand…Details
The Novogrodovskaya 1-3 and Rossiya mines have been sold to a new owner. According to the sources, Valery Atanov, a businessman from Makeevka, represented Eduard Bondarenko, chairman of Donbassenergo, who confirmed his relation to both mines. “By July we are prepared to put a new long face into operation at Novogrodovskaya , which will provide…Details