The Federal Agency of Subsoil Use (Rosnedra) has announced a competition for the right to use the subsoil with the view of prospecting and mining tungsten-molybdenum ores at the Tyrnyauzskoye deposits in the Kabardino-Balkar Republic. The initial payment for the site is some 1.08 billion rubles. The site will be auctioned on April 17, 2018.…Details
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The Priamurye region-based mining company Odolgo increased alluvial gold output in 2017 to 38.9 kg. Last year the company obtained 37.6 kg of gold. At the same time, the output plan for 2017 has been only 50% fulfilled. The target for the next year has not been officially set yet, but according to the company…Details
Novgorodsky Iron and Steel Works is finishing the modernization of power machinery in the copper electrolysis shop. In December it has replaced 9 out of 12 electrolysis series shunting switches. This transfer will considerably decrease expenses on managing and repairing the machinery, having prolonged its service life. The cost of one shunting switch is 3…Details
In 2017 Elgaugol LLC has purchased over 20 units of mining machinery. In particular, in December the company received 4 BelAZ dump trucks with the lifting capacity of 130 tons. In early 2017, 5 KamAZ buses were purchased to bring employees to the work. The company has also purchased 5 lifters. “In 2018 we intend…Details
The capacity of the processing factory at the Stoylensky Mining and Processing Works has increased by 800 thousand tons of iron ore concentrate per year thanks to 4 new press-crushing mills. Thus, the annual capacity of the GOK has reached 17.4 million tons, completely covering the needs of NLMK in iron ore concentrate with Fe…Details
TMK intends to issue bonds valued at 60 billion rubles. According to the company statement, the decision was taken at the board of directors meeting on December 25. The bonds will be issued for 15 years. At present TMK has two issues of eurobonds with the maturity in January 2018 and April 2020 with the…Details
The Ministry of industry and trade has responded to the claim of domestic metal makers pointing to the Kazakhstan dumping with flat rolled metal supplies, and following the address of Russian Steel has started an investigation. Kazakh metal companies have drastically increased supplies, which, as claimants say, is connected to the state subsidizing steel makers.…Details
Centravis Production Ukraine forecasts that in 2017 its sales will grow by 20% YoY. “Sales volume-wise we will grow this year by 20% it tons”, the company sales director Waldemar Scheiermann said. According to him, the company orders portfolio in 2017 narrowed as it cut short-run and low-margin products. (Ukrainian metal)Details
Ukrainian Prime Minister Volodymyr Groysman has instructed the Minister of Energy and Coal Industry, Ihor Nasalyk, within three months starting from January 1, 2018 to draft and submit for consideration by the Cabinet of Ministers a step-by-step plan for the development of the state coal industry. “We need to increase the volumes of extraction of…Details
The new shareholders of Evraz Sukhaya Balka, sold in May to DCH, at their meeting on December 27 made several decisions regarding the company. “The shareholders have decided to rename the company into Sukhaya Balka”, the company statement reports. The corresponding changes will be introduced to the state registries. The company annual output is over…Details
AzerGold CJSC exported 60,552 ounces of gold and 86,806 ounces of silver in April-December, the company said in a message on December 27. The export of precious metals brought an income of 121 million manats to Azerbaijan’s economy. Having successfully passed the procedures of KYC (Know Your Customer) and due diligence required by international refining…Details
Seven companies of Russia’s Arkhangelsk region, engaged in mining, are interested in cooperation with their colleagues from Azerbaijan. The list of these Russian companies has been published by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO). These are PJSC Severalmaz, JSC Arkhangelskgeoldobycha (diamond mining), LLC Onega Nerud (mining), JSC Severo-Onega bauxite mine (bauxite, clay, basalt…Details
Companies controlled by tycoon Viktor Vekselberg have sold a combined stake of 22.3% in U.K.-registered Petropavlovsk Plc, which mines gold in Russia. Bahamas-based Renova Assets sold its entire 14.7496% stake in the gold mining company, while Metkombank, controlled by Vekselberg, sold its stake of 4.4211%, and Lamesa group, a subsidiary of Vekselberg’s multi-industry holding Renova…Details