In June the gold-extracting company Susumanzoloto acquired 100% of the Nedra LLC shares, which owns the license to develop the Shturmovskoye deposits. The project presupposes the construction of a factory with the capacity of the first stage at 200 thousand tons of ore per year. The mine design has already been prepared and it is…Details
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Korolevsky Pipe Works LLC has opened a sales office in the city of Krasnodar. At present the company is recruiting managers for the new office. At the premises of Tekhmash and Noviy Kubansky Profil LLC, Korolevsky Pipe Works manufactures section pipes of various sizes according to GOST 8645-68 and GOST 8639-82 of cold- and hot-rolled…Details
Saranskcable is putting metal manufacture into operation. The company intends to produce aluminum and copper castings and rolled goods with the capacity of 5 thousand and 10 thousand tons per year respectively. Thus the works plans to cover its own needs in aluminum and copper wire rod. The investment volumes have not been disclosed. At…Details
Uralskaya Kuznitsa has confirmed the correspondence of its certificate to produce materials to be used in aviation industry. The inspection has been carried out by the Aviaregistry of the Interstate aviation committee (AR MAK) and the State regional center of standartization, metrology and certification. The inspectors have checked the quality management system, manufacturing processes and…Details
In January-June Asha Iron and Steel Works received 353.2 million rubles of net profit, down by 19% YoY. According to the company statement, its income increased by 31%, to 11.16 billion rubles. Hot-rolled plate sales totaled 8.7 billion rubles, or 78% of the volume. Rolled sheet sales reached 15%, or 1.7 billion rubles, up by…Details
TMK and ChTPZ, accounting for some 45% of Russian large diameter pipes manufacture, decreased local sales because of Gazprom lowering its purchases. In H1 TMK increased earnings by 11% YoY, to $1.54 billion, yet the seamless pipes increase was chiefly countered by the considerable drop in revenue from the sales of welded pipes. In particular,…Details
Ukraine: evidence of removing coal from uncontrolled areas reason for filing claims to international courts
Deputy Minister for Temporary Occupied Territories and Internally Displaced Persons Heorhiy Tuka has said that if there is evidence of shipping coal from the Ukrainian temporarily uncontrolled areas in Donetsk and Luhansk regions to Russia, this could be a reason for filing lawsuits to international courts. “These events are not in line with international requirements.…Details
Energomashspetsstal has produced and shipped a batch of rolls to Zaklad Mechaniczny ELTECH sp. z.o.o. The billets will be used to produce electric machines. The total weight of the rolls is 64.16 tons. The order has been made under the contract concluded in 2011. In August-September, according to the agreement, 12 more rolls with the…Details
According to the market participants, in September prices for rolled metal will continue growing mostly due to the ongoing price increase on world markets and the ruble weakening. MMK has already informed its customers of the price increase in September, namely of 10-18% on bars and sheets. The seasonal revival of the demand and the…Details
The National anticorruption bureau of Ukraine chairman Artem Sytnik says Dmitry Firtash has bought Zaporozhye Titanium and Magnesium Works for $1. “We’re investigating the case as to the management of ZTMK. And we see that Firtash has taken it for just $1. Of course we’re not investigating the Firtash responsibility at present, but we’re on…Details
In January-June Chukotka autonomous district obtained 14.6 tons of gold, down by 13% YoY. Silver output totaled 76 tons, down by 20%. The decrease is explained for the most part with the drop in reserves and its content at Kupol and Dvoynoye deposits. Chukotka Mining-Geological Company mined the most at Kupol: 5.6 tons of gold…Details
Chelyabinsk Iron and Steel Works has finished modernizing the 6-lane continuous casting machine in its oxygen-steelmaking shop. The modernization will improve the efficiency of the continuous cast billet machine No. 4. The reconstruction implied the previous experience from the repairs of another machine, done in July. The oxygen-steelmaking shop operates 4 continuous casting machines with…Details
In Q2 TMK received $1.07 billion, up by 17% QoQ, with H1 earnings up by 27% YoY, to $2.05 billion. According to the company statement, its corrected EBITDA in Q2 totaled $134 million, down by 6% QoQ, and $275 million in H1, up by 2% YoY. Net losses in Q2 constituted $19 million, with net…Details