The State committee on geology and mineral resources has this year attracted 4 foreign investors to prospect 10 gold deposits. The agreements have been signed with B2Gold (Canada), NordGold (UK), TUMAD (Turkey) and Shindong Resources (South Korea). Gold reserves on these deposits are not revealed, but investments in prospecting could total $8 million. The agreements…Details
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In January-November Amursky Ugol mined 3.1 million tons of coal. Out of the total volume the Severo-Vostochny pit yielded 1.2 million tons, up by 12% YoY. Yerkovetsky pit miners obtained 1.9 million tons of coal. This year the company has supplied over 1 million tons of coal to utility and housing enterprises of the Amur…Details
Krasniy Octyabr Iron and Steel Works will assemble new equipment in its rolled metal treatment shop – two scalping machines PL 370 and PL 250, as well as the 2-roll straightening machine RLL 250. All the machinery is manufactured by Danieli (Italy). The new machines will replace old mills, increase output as well as process…Details
Shareholders of Lysva Iron and Steel Works have approved of the board of directors reelection and the cancellation of the management agreement with Lysva Metallurgical Company LLC, as well as attracting a 3-year loan of 4 billion rubles at 8% from MMK. MMK managers have also been elected to the board of directors. LMZ capacity…Details
In January-November Ukraine received $7.848 billion from the exports of ferrous metals, up by 18.5% YoY. According to the State Fiscal Service, ferrous metals accounted for 19.88% of the total export revenue against 20.24% in January-November 2016. In November ferrous metals exports earned Ukraine $932.47 million, up from $744.43 million in October. Imports increased by…Details
The State Property Fund has set a list of enterprises to be privatized in 2018. According to the fund chairman Vitaly Trubarov, Zaporozhye Titanium and Magnesium Works is on the list. The fund intends to fulfill the privatization plan of 22.5 billion UAH. “This is the real amount, which the fund will reach. Soon the…Details
Energomashspetsstal has shipped a batch of rolls to Zaporizhstal. According to the company statement, the batch comprised of supporting rolls for cold- and hot-rolling with the total weight of 278.37 tons. The order has been carried out under the contract signed in 2011. In 2016 EMSS received the net loss of 1.497 billion UAH, down…Details
ArcelorMittal Kriviy Rih is at the head of the exporters rating. According to the company statement, the rating has been created by the “Top-100. Ratings of the largest” magazine on the basis of 2016 operation. Last year the top-100 companies exported over 450 billion UAH worth of products, up 2-fold YoY. ArcelorMittal Kriviy Rih exported…Details
In April-December Zagorsky Pipe Works received 55 thousand tons of rolled metal from South Korea. The delivery time from Posco to the warehouse is 25 days, which is almost twice faster mostly thanks to the Vladivostok Sea Trade Port and Russian Railroads. “The decrease in delivery time of rolled sheet brings South Korea closer to…Details
Krasnoyarsk Iron and Steel Works has commissioned a new press mill to manufacture products of easily and hard-deformable alloys. The Spanish Gia Clecim Press press is one of the most powerful in KraMZ press manufacture. Its size is around 3 thousand square meters. “The press capacity is over 450 tons per months. These products can…Details
Saratov Works of Reservoir Metal Structures has been declared insolvent. During the supervisory procedure, which has lasted since the beginning of the year, the insolvency officer has analyzed the company financial activity and decided that it will be impossible to restore solvency, as debts reach 1.26 billion rubles. The works was created in 1947 as…Details
Chelyabinsk Iron and Steel Works has increased the processing of iron-containing wastes. In 11 months the company has already exceeded the previous 5 years waste processing results. Sludge or mud is the by-product of manufacture. It is created during the operation of the blast furnaces. Because of the high iron content (around 40%) these wastes…Details
Officials in Kyrgyzstan discussed how to reduce the price of local coal, the State Committee of Industry, Energy and Subsoil Use reported. Currently, four companies in two shifts are working at an open pit in Kara-Keche. Every day 4,500-5,000 tons of coal are mined. There is a checkpoint guarded by the police at the entrance.…Details