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Ukraine: Lviv against uniting mines

The Lviv region state administration is against uniting all the state mines into one company, the administration fuel and energy saving department director Mikhail Melnik reported. “We don’t like the idea of turning separate enterprises into manufacturing subdivisions. We want money invested into each mine, we want them modernized. The country is carrying out the…

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Russia: Nornickel modernizing manufacture

Kola MMC has finished reconstructing the nitrogen-oxygen plant, having put into operation a new air-separation unit with compressor equipment. The modernization will allow Kola MMC to considerably decrease expenses when manufacturing air separation products widely used in the non-ferrous metals manufacture. The company believes the economic impact from the implementation of new techniques will amount…

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Russia: NLMK to road show its eurobonds

NLMK is planning to start a road show with dollar-nominated eurobonds in USA and Europe on September 6. Meetings with investors will be held in London, Zurich, New York and Boston. J.P. Morgan, SG CIB, ING and UniCredit will act as organizers. Depending on the market situation NLMK intends to offer mid-term bonds to investors.…

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Russia: Reserv to lose Utinka gold

The Russian Environment Surveillance Service in Magadan region wants to annul the license to use subsoil resources given to Reserv LLC to operate at the Utinskoye deposits. According to the service the company has not started constructing infrastructure objects, nor has it prepared the mining object to be put into operation. The company director Victor…

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