In January-October Telen mined 97 million tons of coal. As of November 15 output reached 105 thousand tons. “Telen intends to operate while its license is still valid – till 2059. Our plans for the future is to increase output, expand sales markets and construct industrial premises”, the company said. In 2016 the company obtained…Details
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Natalka Mining and Processing Works, the main new project of Polyus, has received the first batch of Dore gold. The company is testing the new machinery. Polyus expects the project to reach full capacity by late 2018. Natalka gold-extracting factory with the capacity of 10 million tons of ore is the largest in Russia. It…Details
The rolling shop No. 1 of the Zlatoust Electrometallurgical Works has started manufacturing new products – the 45×580 mm hot-rolled strip. “The strip has been manufactured at the 1150-mill of the 2.8-ton steel ingot. In just one smelting of the 560×560 mm ingot we were able to receive the 45×580 mm strip with the high…Details
Corum Group has purchased a Doosan DBC160 drilling-milling center for its plant in the city of Kharkiv for 1 million euro. This is the largest investment in the manufacturing machinery of the company in the past several years. According to the company the purchase will allow it to produce most of the spare parts on…Details
In October world pig iron manufacture increased by 1.7% YoY, to 99.649 million tons. According to World Steel Association, China was leading with 60.015 million tons, up by 2.1% YoY. Ukraine occupies the 9th position with 1.655 million tons, followed by Taiwan with 1.25 million tons. In November Ukraine produced 1.83 million tons of pig…Details
The management of Zaporozhye Aluminum Works hopes that the Cabinet of Ministers will write off its 50 million UAH debts to the Pension Fund. According to the fund, Zaporozhye region companies’ debts stand at 62.204 million UAH. ZALK is the largest debtor with 53.32 million UAH, followed by Zaporozhye Titanium and Magnesium Works (4.24 million…Details
Since the start of the year Dalenergougol LLC has mined 60 thousand tons of coal at the Vostochniy site of the Ilyichevskoye deposits. The company operates four Belaz-7547 with the lifting capacity of 40 tons each at the site, as well as Komatsu PC 750 and Hitachi 650 excavators. By the end of the year…Details
In October Russian Railroads transported 8.9 million tons of iron ore, on the level of the year start. Since the beginning of the year some 91.3 million tons of ore have been transported, down by 0.2% YoY. Exports continued decreasing due to the growth of local consumption. The largest decrease in exports was in the…Details
S&P Global Ratings has improved the TMK rating to the Stable. The agency has also confirmed the company long-term ratings in foreign and local currency on the level of B+. “The Stable forecast shows our expectation of the company to continue making efforts to decrease the share of loan funds”, the agency said. According to…Details
In November Zaporizhstal produced 300.5 thousand tons of steel, down by 3.6% YoY. According to the company statement, pig iron manufacture increased by 14.8%, to 316.9 thousand tons, while rolled metal output dropped by 30.2%, to 186.2 thousand tons. The decrease in manufacture is explained by the capital repairs of 1150 and 1680 rolling mills…Details
The Republic of Bashkiria has granted tax preferences to 5 priority investment projects. Among them is the “Organization of the multistrand ropes manufacture”. Beloretsk Iron and Steel Works initiated the project. Investments total 510 million rubles. 68 new jobs will be created. (Ukrainian metal)Details
Gaysky Mining and Processing Works is finishing the technical revamping of the sixth ore-loading unit at the processing factory. This is the final stage of the work this year. The factory processes some 29-30 thousand tons of ore per day. Investments in the construction of the new unit total 24 million rubles. (Ukrainian metal)Details
Global rating agency Fitch has downgraded outlook for a BB- long-term issuer’s default rating of Russia’s Chelyabinsk Pipe-Rolling Plant, or ChelPipe, to Negative from Stable, it said in a statement. The Negative outlook reflects Fitch’s wariness about ChelPipe’s ability to reduce liabilities and the overall debt to funds from operations (FFO) ratio from 4x at…Details