Russia: VTB servicing 22% of gold-extracting market in Zabaykalye region

In 2017 VTB increased the number of gold-purchasing contracts with the Zabaykalye region enterprises by 32% YoY.

The bank concluded agreements to buy 2.9 tons of gold, or 22% of all gold produced in the region.

Last year Zabaykalye region yielded 13.2 tons of gold, up by 10% YoY. (Ukrainian metal)

Russia: Ministry of Economy discusses counter measures to US steel duties

The Ministry of Economic Development has hosted another meeting of the sub-commission on customs-tariff, non-tariff regulation and protective measures in foreign trade of the government commission on economic development and integration. In particular, the issue of US decision to impose special import duties of 25% on ferrous metal and 10% on aluminum was discussed. The…

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Ukraine: Zaporizhstal passes energy audit

Zaporizhstal has successfully passed the second audit of the Energy management system for the correspondence with the ISO 50001:2011. The auditors have highly estimated the work of the company in energy resources management. Zaporizhstal has been certified and regularly confirming its compliance with the requirements of the international standards ISO 14001, ISO 9001 and OHSAS…

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Ukraine: AMKR awarded for implementation of energy-efficient solutions and use of alternative fuel

PJSC ArcelorMittal Kriviy Rih has been awarded with a certificate for implementation of the best energy-efficient and resource-saving technologies that reduce the negative impact on environment. The company got the winner’s certificate during interregional conference, called Green Solutions of Business – Uniting for Sustainable Development, which took place in Dnepr. The Dnipropetrovsk Regional Council, the…

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Russia: Ruspolymet profit down in 2017

In 2017 Ruspolymet received 199.6 million rubles of net profit, down by 25% YoY, as calculated under the International Financial Reporting Standards.

At the same time, the company income totaled 8.65 billion rubles, up by 10.3% YoY. (Ukrainian metal)

Russia: Mangazeya Mining gold output down in 2017

In 2017 Mangazeya Mining Ltd LLC produced 24.3 thousand ounces of gold, down by 11.2% YoY.

The main reason of the drop is the low gold contents in the ore.

Ore mining grew by 2.7%, to 951 thousand tons.

Last year gold sales totaled 24.1 thousand ounces, down by 12.3% YoY. (Ukrainian metal)

Ukraine: UGOK sinter output up in April 2018

In April Yuzhniy Mining and Processing Works produced 1000.3 thousand tons of concentrate, down by 0.1% YoY. According to the company statement, sinter output increased by 7%, to 133.5 thousand tons. In January-April UGOK concentrate output dropped by 0.7% YoY, to 4012.3 thousand tons, while sinter manufacture grew by 13.8%, to 654.9 thousand tons. (Ukrainian…

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Russia: MMK IFRS net profit up in Q1 2018

The net profit of Russia’s Magnitogorsk Iron and Steel Works (MMK) rose by 15.8% YoY, to $279 million in January-March, as calculated under International Financial Reporting Standards (IFRS), the company said in a report on May 8.

Revenue increased by 23.8%, to $2.055 billion, while EBITDA grew by 23.9%, to $560 million. (Prime/Ukrainian metal)

Russia: coal mining up in April 2018

In April Russia mined 35.32 million tons of coal, up by 5.8% YoY, while exports increased by 0.7%, to 15.34 million tons. Deliveries to the domestic market grew by 17.5%, to 15.1 million tons. Imports dropped by 12.7% YoY, to 1.58 million tons. SUEK mined 9.2 million tons of coal, down by 1.2%, Kuzbassrazrezugol –…

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Russia: HGM gold output down in Q1 2018

In January-March Highland Gold Mining Limited obtained 59.31 thousand ounces of gold and gold equivalent, down by 9% YoY. This year the company intends to yield 265-275 thousand ounces of gold equivalent. Average gold price in Q1 was $1329 per ounce. Last year gold output at HGM enterprises grew by 4.3% YoY, to 272.3 thousand…

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