Metalloinvest is transferring its managing company from Moscow to Stariy Oskol in the Belgorod region. The town houses its main manufacturing capacities. Moscow will retain financial division, GR and marketing. The transfer has already commenced and is expected to be finished in 2018. Half of the managing company will be relocated to Stariy Oskol by…
DetailsAn employment center for Metinvest workers from the companies on the occupied territories has started operating in Mariupol. According to Azovstal CEO Enver Tskitishvili, the Metinvest staff is a single body, despite territorial spread. Azovstal has already employed the first workers from the Yenakievo Iron and Steel Works. Other Metinvest enterprises do the same. On…
DetailsIn January-February Chukotka region mined 3,577 tons of gold, down by 14% YoY. The overall decrease was the result of the output drop at the large gold and silver deposits of Kupol and Dvoynoye. At Kupol the Chukotka Mining and Geological Company mined 1.472 tons of gold, down by 218 kg YoY, and 19.9 tons…
DetailsFrom the start of the year and as of March 17, the gold-mining company Druza has mined 135 kg of gold at its Nevskoye deposits. “At present we continue mining ore gold at the Nevskoye deposits. Operations at the Bolshoy Dogaldyn have already been started”, the company chief geologist Konstantin Morgun said. In 2017 Druza…
DetailsThe management of Susumanzoloto intends to mine 4050 kg of gold at its deposits in the Magadan region. “At present we make all the preparations to the season: repair machinery, carry out drilling and blasting. We’ll start extracting alluvial gold in April. At the same time we continue mining ore gold at the Vetrenskoye deposits.…
DetailsInterpipe has started importing scrap from Moldova. “We import scrap from Russia and from Moldova. These are just trial batches, of around several tons. But I expect scrap imports to increase in future. There are no other options”, Interpipe finances and economy director Denis Morozov said. According to him, if scrap is imported from other…
DetailsIn 2016 Ukraine imported 1.35 million tons (31.55 thousand wagons) of coke from the uncontrolled territories, and supplied 193.6 thousand tons of coke (4.52 thousand wagons) there. According to the Ukrzaliznytsia report, iron and manganese ore imports from uncontrolled territories totaled 28.72 thousand tons (430 wagons), exports – 5.27 million tons (76.54 thousand wagons). Ferrous…
DetailsA delegation from AvtoVAZ headed by its president Nicolas Maure has paid a visit to Magnitogorsk Iron and Steel Works. The guests visited the oxygen-converter shop of MMK, as well as the sheet-rolling shop No. 11, which now has the newest cold-rolling mill, intended for high-quality automobile sheet production in particular. The sheet is used…
DetailsThe shareholders of PJSC Central Mining and Processing Works, a part of Metinvest Group, intend to pay UAH 1.665 billion from the UAH 2.219 billion net profit in dividends for 2016. It is planned to distribute profit at an annual meeting of the shareholders scheduled for April 19. According to the draft decision of the…
DetailsIn 2016 Rusal income decreased by 8% YoY, to $7.983 billion, because of the LME average aluminum price drop of 3.5% YoY, to $1.604 per ton. The corrected net profits and normalized net profits totaled $590 and $1.257 billion respectively, as opposed to $671 million and $1.097 billion in 2015. (Ukrainian metal)
DetailsThe Pipe Metallurgical Company (TMK) has announced the appointment of Vyacheslav Gagarinov the managing director of Sinarsky Pipe Works. Previously he has served as the chief engineer of the company. SinTZ ex-director Vyacheslav Popkov has been transferred to the position of the deputy manufacturing general director of TMK. Gagarinov has been working at SinTZ since…
DetailsThe state owes salary only to the Lisichanskugol miners in Lugansk region. “At present except for the Lisichanskugol salary debt, which is 110 million UAH, there are no debts to state mines”, energy and coal industry minister Igor Nasalik said. In early March Lvivugol miners threatened to stop supplying coal because of the salary debts…
DetailsIn 2016 Poltava Mining and Processing Works received 32.15 million UAH of net losses, down from 5.9 billion UAH in 2015. The company current liabilities increased by 10.9% YoY, to 21.26 billion UAH, fixed liabilities dropped by 18.1%, to 841.89 million UAH, while accounts receivable went up by 11.1%, to 5.26 billion UAH. The company…
DetailsRussian gold producer Polyus plans to sell its 82.3% stake in the Nezhdaninskoye gold deposit in the republic of Yakutia to businessman Ivan Kulakov. The deal is valued at $150 million, and precious metals producer Polymetal, the minority shareholder of the deposit, will keep an option to raise its stake in the project to 50%.…
DetailsIn January-February Kuzbass region mined 37.3 million tons of coal, up by 5.7% YoY. Power-generating coal totaled 26.7 million tons, up by 7.2%, coking coal – 10.6 million tons, up by 1.9%. In particular, Raspadskaya Coal Company increased output by 0.6 million tons, Kiyzasskiy Open-pit Mine – by 0.5 million tons, SUEK-Kuzbass and Stroyservice –…
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