In January-June Petropavlovsk received 1.4 billion rubles ($24.5 million) of net profits, up 2.7-fold. Revenue increased by 19.7%, to 17.38 billion rubles ($304 million). EBITDA grew by 30% YoY, to 6.52 billion rubles ($114 million), despite the strengthening of the ruble, which increases Russian gold miners’ expenses when converting to dollars. Gold output in H1…Details
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Chelyabinsk Iron and Steel Works has won a tender to supply rails of the construction of the second belt of Moscow Subway. The cost of the contract is some 1.5 billion rubles. ChMK will produce rails for the southwestern site of the Moscow belt railroad. In particular, the company will supply around 35 thousand tons…Details
Zlatoustovsky Electrometallurgical Works will assemble new furnaces at the rolling shop No. 3 export site. Several heating furnaces produces by Bosio arrived at ZEMZ on August 18. The first 5 furnaces will be assembled and integrated in the manufacturing process in January 2018. This will decrease gas usage and expenses on transporting metal from one…Details
In 2017 Russian coal exports to the Asia-Pacific Region countries will exceed $5 billion. The share of coking coals will reach 25% against 18% in 2014. Coal transportation through Far Eastern ports in 2016 totaled 60%, up from 46% in 2009. 88% of Russian coalmining companies expect an increase in world coal prices in 2017.…Details
United Metal Company has announced its decision to shut down the open-hearth furnace shop at Vyksa Iron and Steel Works. The shop is expected to stop operating in Q1 2018. Most of the shop employees will work in other subdivisions. OMK will replace its own open-hearth steel with continuous cast billets produced by UralStal, a…Details
The state budget for the year 2018 does not provide for the subsidies to state coalmines. “Subsidies for mines are not stipulated in the 2018 budget project”, the minister of finances Alexander Danilyuk said. The chairman of the Donetsk military-civilian regional state administration Pavel Zhebrivsky in early June said that by autumn 2018 all the…Details
Gaz-Aliance Company LLC (Nizhny Novgorod), controlled by the fugitive Ukrainian entrepreneur Sergey Kurchenko, from the ex-president Victor Yanukovich gang, in July-August exported $70.6 million worth of pig iron and other metal products, produced by the metal companies, seized in February-March by the Russia-supported militants on the occupied areas of Lugansk and Donetsk regions. In late…Details
NLMK Group, an international steelmaking company with operations in Russia, Europe and the USA, has opened NLMK Turkey, its sales office in Turkey. As part of Strategy 2017, NLMK Group is focusing its sales on key markets, including Turkey, which accounts for up to 20% of the group’s export. The opening of NLMK Turkey will…Details
In August DTEK purchased 72 thousand tons of coal, mined in Lviv and Volyn regions, up by 37%. According to the company statement, DTEK combined heat and power plants are the main customers of Lvivugol and Volynugol. Purchasing volumes depend on the energy balance in the country and the demand for electricity. Since the beginning…Details
In August prices of industrial products increased by 0.4% MoM and by 23.6% YoY. According to the State Statistics Service, iron ore prices increased by 6.6%, coal by 6%, in metal manufacture by 2.8%. At the same time coke prices dropped by 1.5%. (Ukrainian metal)Details
Russian coal exports in January-August increased by 7.8% YoY, to 122.456 million tons, the Ministry of Energy of Russia statistics showed. In August, the commodity exports totaled 15,605,000 tons. Coal mining in the eight-month period reached 264,301,000 tons, with 230,404,000 tons supplied. (PortNews/Ukrainian metal)Details
Sudan has called on companies and investors from Russia to help its mining industry to develop, Mining Minister Hashim Ali Salim said. “Sudan has discovered reserves of 35 metals, but it produces only 13. We call on all companies to invest in other metals and in production and processing of them. The doors are open…Details
Kazatomprom National Atomic Company JSC and Emirates Nuclear Energy Corporation (ENEC, UAE) have inked a Memorandum of Understanding in Astana. The aim of the memorandum is to establish mutually beneficial cooperation between Kazakhstan and the United Arab Emirates in terms of peaceful atom and energy industry. In addition, the memorandum reflects the intentions to supply…Details