The Supreme Commercial Court of Ukraine has left unchanged the ruling of the Kiev commercial court of appeals as to the volume of the main debt of Dneprovsky Iron and Steel Combine to Metinvest at 5.19 billion UAH instead of 2.566 billion UAH. At the same time the ruling of the Commercial court of Kiev…Details
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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…Details
On September 1 a new standard TK 99 “Aluminum” GOST R 57454-2017 “Primary aluminum and the alloys on its basis. Forms of output and delivery. Marking, packaging, transportation and storage” developed by the Aluminum Association came into effect. The goal of the standard is to improve the quality and competitiveness of aluminum products, and update…Details
Rost Bank has filed a bankruptcy claim to the Arbitrary court of Sverdlovsk region as to Rezhnickel. The amount of the claim is 202.6 million rubles. In late August Rost Bank filed a similar claim as to Ufaleinickel, demanding 202.6 million rubles as well. Rusal enterprises in the Ural Federal District stopped operating because of…Details
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…Details
The RusHydro board of directors has preliminary approved of the results of its participation in the construction of the Taishet Aluminum Smelter together with Rusal. RusHydro has estimated the cost of a 50% stake in the project at $388 million (22.5 billion rubles). Another aspect of the company participation in construction is Rusal confirmation of…Details
Rusolovo, the only tin-mining company in Russia, in January-August produced 511 tons of tin concentrate, up by 70% from the historical maximum of 300 tons, reached by the company in 2015. “The considerable increase of the tin output is the result of the consecutive investments into restoration and development of capacities”, the company CEO Evgeniy…Details
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.…Details
The European Bank fro Reconstruction and Development intends to lend ArcelorMittal Kriviy Rih 200 million euro. The total amount of the loan could reach 350 million euro, with 150 million provided with the help of other institutions. The loan will be used to support the AMKR investment program valued at $1.1 billion. (Ukrainian metal)Details
In January-August Ukraine produced 13.826 million tons of steel, down by 16% YoY. Rolled metal output decreased by 18%, to 11.806 million tons, pig iron – by 20%, to 12.772 million tons. At the same time pipe manufacture grew by 28%, to 691 thousand tons, while that of coke dropped by 21%, to 6.859 million…Details
The Ministry of energy and coal industry will find financial resources – some 1 billion UAH – to pay salary to miners and clear 2017 debts. According to the miners union, the primary goal of the ministry and the government is to pay salary to miners in full, as well as clear all the debts…Details
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…Details
Zaporozhye Aluminum Works has recalled its employees from the forced vacation, which started on August 17-18. Still the company is not producing aluminum wire rod because of the absence of raw materials (primary aluminum). “We were not producing wire rod in Q2 and Q3 because of two reasons: there were still products at the warehouse,…Details