KAZ Minerals company reduced the cost of the expected Aktogay copper mine project in Kazakhstan by $100 million to $2.2 billion, the company reported. “The project has benefited from the experience gained at Bozshakol mine project and from the use of local contractors following the 2015 tenge devaluation”, the company’s message said. The lowered budget…
DetailsMetalloinvest has redeemed its debut eurobond issue. The eurobonds for a nominal amount of $750 million were issued on the London Stock Exchange in 2011 with a five-year maturity period and an annual coupon rate of 6.5%. The redemption of the debut Eurobond issue and coupon payments were executed in full and in accordance with…
DetailsThroughput of Rosterminalugol in 2016 has reached 9 million tons year-to-date, the company’s press release says. The milestone ton was loaded on July 20. Rosterminalugol was established in 1996 to build and operate the coal terminal at Port of Ust-Luga. The company specializes in loading / unloading operations, freight forwarding services, building and maintenance of…
DetailsAzovstal Iron and Steel Works plans to have completed the construction of pulverized coal injection plant (PCI) by the end of this year and phase out natural gas for ironmaking. Pre-assembly of PCI steel structures is currently in progress. Metinvest Engineering, LLC acts as the General Contractor and the General Designer in this project. The…
DetailsPoltava Mining and Processing Works has decreased gas consumption by 33%, or by 5 million cubic meters, to 10 million cubic meters. According to the company chairman Victor Lotous, PGOK used sunflower seed husks instead of gas to make pellets. This allows the company to save some 50-60 million UAH annually. (Ukrainian metal)
DetailsIn June Nikopol Ferroalloy Plant produced 51 thousand tons of silicomanganese, down by 17.3% MoM, or by 10.7 thousand tons, to 51 thousand tons. According to the Association of Ukrainian Ferroalloy Producers, its ferromanganese output dropped by 45.8% MoM, or by 2.7 thousand tons, to 3.1 thousand tons. In January-June NZF produced 334.5 thousand tons…
DetailsIn June Zaporozhye Ferro Alloys Plant produced 24.5 thousand tons of ferroalloys, down by 1.2% MoM, or by 0.3 thousand tons. According to the Association of Ukrainian Ferroalloy Producers, in January-June ZZF decreased ferroalloys output by 12% YoY, or by 18.5 thousand tons, to 135.1 thousand tons. (Ukrainian metal)
DetailsThe preparation to put the second section of Avdiivka Coke and Chemical Works into operation, started on July 21, was stopped because of another shelling. On July 21, the company CEO Musa Magomedov informed that 2 damaged electricity lines were repaired. This allowed Avdiivka Coke to start preparing the second section of the works for…
DetailsIn June Ukraine exported $146.95 million worth of long rolled metal, while imports reached $12.3 million. According to the State Fiscal Service, the main importer of long rolled metal in June was Russia ($23.78 million). In January-June long rolled exports totaled $821.4 million, with imports on the level of $68.41 million. (Ukrainian metal)
DetailsOn July 15, ArcelorMittal Kriviy Rih dismissed Davinder Chugh from the office of the supervisory board member. According to the company statement, Chugh has been in this office for 2 years and has resigned. (Ukrainian metal)
DetailsSupervisory board of Zaporozhogneupor has given its preliminary consent to buy magnesite and graphite valued at 142.5 million UAH from Minmetals Japan Corporation. The corresponding decision was taken on July 15. (Ukrainian metal)
DetailsMetinvest reports on difficulties working on the Customs Union market due to the cancellation of zero duties on Ukrainian metal products. “Even where there is no antidumping duties we have to pay 5% import duties. This makes it harder to work, but still we have a strong distribution trade company in Russia and Belarus. We…
DetailsHighland Fund, a consortium established by prominent Chinese investment funds and corporations, made payment for a share in the joint venture set up together with Norilsk Nickel to develop Bystrinsky project in compliance with the signed agreement. The payment has been made after the Russian government Commission on Monitoring Foreign Investment had approved acquisition of…
DetailsIn June Ukraine produced 1830 thousand tons of steel, down by 20.7% MoM, or by 477 thousand tons. In January-June steel manufacture went up by 10.4% YoY, or by 1168 thousand tons, to 12417 thousand tons. (Ukrainian metal)
DetailsThe head of the so-called Donetsk People’s Republic Zakharchenko has decided to temporarily administrate the Donetsk Electrometallurgical Plant and create Yuzovka Iron and Steel Works on its basis, with all DEMZ assets given to the new company. Now Mechel faces the risk of losing control over DEMZ. The company is studying the situation and will…
DetailsSupervisory board of the Metinvest group has appointed Julia Dankova the financial director. Previously Dankova was the acting financial director. Alexei Kutepov, financial director since August 2013, resigned in winter 2016. (Ukrainian metal)
DetailsPoltava Mining and Processing Works believes that Germany, Austria, South Korea and Japan are its priority sales markets. According to the company chairman Victor Lotous, it plans to sell 65% Fe content pellets there. Last year PGOK exported 11494 thousand tons of iron ore pellets. (Ukrainian metal)
Details