On September 14 the trading house Attika will hold an auction to sell the assets of Armavir Electrometallurgical Works LLC. AEMZ was declared insolvent in August 2016. The registry includes claims for 2.5 billion rubles, including 8 million rubles of tax debts. AEMZ assets are evaluated at 276 million rubles, and this will be the…Details
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Evraz NTMK is continuing construction of a ball-rolling mill. The rail-beam shop has started assembling the main equipment. A furnace to heat billets before rolling, a rolling mill, a thermal treatment site and a shipping site will be prepared and assembled. The length of the line will be 300 meters. The new manufacture will create…Details
NLMK Group has embarked on the construction of a briquetting plant at its Lipetsk production site, a new production of steelmaking briquettes with a capacity of 700,000 tons per year. The project will create about 200 new jobs, and will enable NLMK to source raw materials for blast furnaces from blast furnace (BF) waste, cut…Details
The Cabinet of Ministers is underestimating the roll of metal industry in the national economy, the chairman of the Metal Makers Federation of Ukraine Sergey Belenky believes. According to him the Prime Minister of Ukraine Vladimir Groysman presented priorities in lawmaking for the autumn – some 50 governmental bills, which, when approved by the Verkhovnaya…Details
The construction of the bridge over the Kerch Strait will have negative consequences for Ukrainian metallurgy. Earlier the Russian authorities claimed that the project would not affect the free sailing in the Black and Azov Seas, nor the throughput of Ukrainian Azov ports – Mariupol and Berdyansk. “But the reality is different. Moscow has imposed…Details
In June Metinvest increased its corrected EBITDA by 23.5% YoY, to $147 million, but still it was 4.5% below the May level. According to the group statement, its income in June increased by 28.8% YoY, to $720 million, but fell by 2.3% MoM. In May Metinvest EBITDA grew by 13.24% MoM, to $154 million. In…Details
In January-July Magadan region mined 142.7 thousand tons of coal, down by 33.6% YoY. This year only 2 companies in the region mine for coal: Kolyma Coal Company and Association of business development. Severo-Vostochnaya Coal Company does not mine for coal this year, as it mined enough last year. In 7 months Kolyma Coal Company…Details
In January-June the consolidated earnings of Chelyabinsk Zinc Works reached 18.09 billion rubles, up by 44% YoY. EBITDA totaled 4.356 billion rubles, or 24% of the earnings. Net profit in H1 was 2.975 billion rubles against 1.855 billion rubles in H1 2016. Chelyabinsk Zinc Works is the largest metallic zinc and alloys manufacturer in Russia.…Details
Karabashmed is studying the possibility of optimizing techniques to obtain copper concentrate from metal manufacture slag. The Ural Federal University specialists are involved. At present the Karabashmed processing factory produces copper concentrate of the slag mix originating from Ausmelt furnace copper smelting, and converter shop. The scientists will review three types of processing: Ausmelt slags,…Details
In July, according to the State Fiscal Service, Ukraine exported 3384 thousand tons of iron ore raw materials, down by 198 thousand tons, or by 5.5% MoM. In January-July Ukraine exported 22.7 million tons of iron ore raw materials, down by 1.2 million tons YoY. Deliveries to Slovakia increased the most – by 637 thousand…Details
Ukzaliznytsia can still improve its financial efficiency, Zaporizhstal CEO Rostislav Shurma believes, commenting on the renewed financial plan of the company for 2017. “Instead of the expected increase in efficiency, fight with corruption and as the result the optimization of expenses, I saw the growth of expenses by 10 billion UAH. And to cover them…Details
Moody’s has increased the ratings of Ferrexpo plc, controlling Poltava and Yeristovo Mining and Processing Works, and Metinvest from Caa2 to Caa1. The PDR has been increased from Caa2-PD to Caa1-PD. At the same time Metinvest rating on the national scale (NSR) has been increased from B1.ua to Baa3.ua, while of Ferrexpo bonds from Caa2…Details
Russian hydropower giant RusHydro may pay only $88 million in cash in installments for a 50% stake in the Taishet Aluminum Smelter with the rest of the sum to be paid with 42.75% in Irkutsk Power Grid Company and future dividends from the plant. Construction of the smelter with a projected annual production capacity of…Details