The potential investor of the insolvent KVV Liepājas metalurgs is given two weeks to consider purchasing the company, says Latvian Economy Minister Arvils Ašeradens. He admits that talks with the potential investor are not over; the investor wants to secure the most beneficial conditions in business negotiations. Latvian government is also highly interested in getting…Details
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Standard&Poor’s has changed the rating forecast for Ferrexpo plc, owner of Poltava and Yeristovo GOKs, from Stable to Positive. On December 29, 2017 S&P improved the group rating following the “high productivity” shown lately. The agency has also confirmed Ferrexpo’s long-term rating at B-. The rating improvement is the result of the stable iron ore…Details
In December 2017 Ukraine produced 1.87 million tons of pig iron, 1.88 million tons of steel and 1.7 million tons of rolled metal, all up by 3%, 0.4% and 7% MoM respectively. “Output increase in December 2017 was mostly thanks to Mariupol Iron and Steel Works and Zaporizhstal”, Ukrmetallurgprom reported. In January-December 2017 Ukraine produced…Details
The Novovolynskaya mine No. 9, a part of the state enterprise Volynugol, has suspended operation because of the lack of equipment. “The enterprise has stopped mining coal. And the reason is simple – they have nothing to work with. The mine was developing three long faces. For the past week they were barely working on…Details
The contract with the acting financial director and chief accountant of ArcelorMittal Kriviy Rih Sergey Plichko has been prolonged for another quarter. According to the company decree dated December 28, 2017, the contract is prolonged through March 31, 2018. Plichko was appointed chief accountant, acting CFO on February 17, 2017. Prior to that he was…Details
Mechel informs that the group CFO Sergey Rezontov is leaving the company. According to the statement, Rezontov resigned due to his personal reasons. “We are grateful to Sergey Rezontov for his work”, Mechel CEO Oleg Korzhov said. (Ukrainian metal)Details
In December 2017 ArcelorMittal Kriviy Rih and Mariupol Ilyich Iron and Steel Works received the most VAT among metal companies – 659.432 and 656.42 million UAH. In November 2017 they received 633.194 and 671.433 million UAH respectively. According to the State Treasury Service, Zaporizhstal was paid 407.011 million UAH (305.218 million UAH in November 2017).…Details
In 2017 Seligdar commissioned 3 processing factories, produced over 1 thousand tons of tin and increased mining volume by 30% YoY and gold reserves by 19 tons. Last year the group also struck an important deal of Rusolovo shares consolidation. As the result, the group balance received a major asset. Seligdar plans to pay dividends…Details
In December 2017 Zaporizhstal increased pig iron output by 38.2% YoY, to 365.7 thousand tons. According to the company statement, steel manufacture grew by 17.2%, to 357.8 thousand tons, and rolled metal – by 10.4%, to 295.2 thousand tons. In 2017 pig iron output increased by 5.4% YoY, to 3.795 million tons, steel – by…Details
In January-November 2017 Ukraine imported 4.11 million tons of power-generating coal for thermal and combined heat and power plants. According to the Ministry of energy and coal industry, in 11 months Russia supplied 3.083 million tons of coal (75% of all the imports), South Africa – 653.2 thousand tons (15.9%), USA – 254.8 thousand tons…Details
This year the United Mining and Chemical Company, which manages Volnogorsk Iron and Steel Works and Irshansk Mining and Processing Works, intends to increase investments 2-fold, to 200 million UAH, “2018 will be the year of manufacture reconstruction. I believe our investments will exceed those of 2017 2-fold. It’s difficult to name the exact amount,…Details
The Zaporozhye subsidiary of the State Property Fund has announced the electronic auction of Aluminum Foil Works at the Ukrainian Universal Exchange. The starting price of the state enterprise is 583.9 million UAH. The auction is scheduled for January 19. The participation requests are accepted through January 15. (Ukrainian metal)Details
In November 2017 Vyksa Iron and Steel Works railroad shipments to domestic customers and for exports totaled 217.7 thousand tons, up by 22% MoM and by 8.5 YoY. In October 2017 the results were down by 9.4% MoM and by 1.7% YoY, while in September – up by 67.1% and by 53% respectively. In November…Details