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The cost of gold increased by almost 15.74 manats (0.7%), to 2265.7005 manats per troy ounce in Azerbaijan on March 7, according to the data published by the country’s Central Bank. The cost of silver increased by 1.3%, to 28.3712 manats per ounce, the cost of platinum by 0.22%, to 1640.925 manats, while the cost…
DetailsBy the end of the year Chinese investors will have carried out two projects. The first is the construction of the metal works by Forever Fourshing Co. Ltd. Investments will total 7.4 billion tenge. The plant will produce 300 thousand tons of metal per year, with 80% to be exported. The company intends to export…
DetailsThe underground mine of Gaysky GOK is prepared to commission a new ore chute complex for loose materials needed to produce concrete. “Previously sand and crushed stone, needed to make the mixture, were delivered to the 910-meters horizon. It took 3 hours to load one machine, get down there, unload and get back to the…
DetailsIn 2017 Russia imported 280 thousand tons of corrosion-resistant flat steel valued at $604 million, up by 19.7% and by 32.7% MoM respectively. According to the customs statistics, this is also the record-high result for the past several years. Sheet with the width of 600+ mm accounts for 90% of the imports. The main supplier…
DetailsA Japanese and an Austrian company are interested in investing in Krivoy Rog Oxidized Ores Mining and Processing Works. According to the Ministry of economic development and trade, the first vice prime minister Stepan Kubiv met with Hiroshi Ishikawa of Kobe Steel. “The group of companies has developed a new technique of processing oxidized ores…
DetailsThe 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…
DetailsThe 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…
DetailsThe 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…
DetailsThe 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…
DetailsIn 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…
DetailsSeverstal – 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,…
DetailsMMK 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…
DetailsSeverstal 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…
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