“The Kyrgyz government has no means to clear Kumtor’s open pit, so it is necessary to develop glaciers,” Deputy Prime Minister Duishenbek Zilaliev said at a parliament meeting. According to him, if Kumtor does not work, then the glaciers will collapse into the pit. The government will have to clear it at its own expense,…Details
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Centerra Gold Inc. (Centerra) and Kumtor Gold Company (KGC) have summed up their operating results in 9 months of 2017. KGC produced 404,584 ounces or 12,583.98 kg of gold, Public Relations Department of Kumtor Gold Company reported. During the third quarter of 2017, Kumtor produced 138,561 ounces of gold compared to 166,030 ounces of gold…Details
In January-September the income of TMK increased by 31% YoY, to $3.191 billion. According to the company statement, in Q3 the growth totaled 3% QoQ, to $1.14 billion. EBITDA for Q3 increased by 27%, to $169 million, for 9 months – by 14%, to $444 million. Net profit totaled $22 million in Q3 and $46…Details
The Corum Druzhkovka Machine-Building Works has supplied 162 sections of anchoring to the Dalnyaya mine, a part of Donskoy Antrazit (DTEK). According to the company statement, this is the largest anchoring order this year. “Similar anchoring is already successfully used at the mine. We made the first delivery in 2013, and the second order is…Details
In October consumption of anthracite in Ukraine dropped by 30%, or by 300 thousand tons. According to the vice-prime minister Vladimir Kistion, 100 thousand tons have been saved thanks to the warm October and 200 thousand tons because of the switch of thermal power plants to the gas-coal. Kistion is sure that next year the…Details
BSK Steel appeared a year ago. Since then the company has assembled a polymer-coating line with the annual capacity of 200 thousand tons. The first output was in June. At present the company produces some 4 thousand tons per month with the thickness of 0.3-0.5 mm with various coatings. The metal is supplied across Russia,…Details
Evraz might get competitors in the purchase of Sibuglemet, which it has been managing since 2015. In December VEB will hold a competition to manage the holding in Kemerovo region. It had to be hold in summer, but was postponed due to no interest except for on behalf of Evraz. But the new sales already…Details
Metinvest and Lemtrans have signed a 3-year cooperation agreement. Within the agreement Lemtrans will not only provide open cars to Metinvest, but will also manage all the open cars of the holding. The new agreement takes into account the experience of the previous 3-year contract. “We are taking steps to increase our own open cars…Details
The aim of PJSC ArcelorMittal Kriviy Rih is to create a manufacturing company of high-quality spare parts for own needs and for the needs of external customers. LLC Casting & Mechanical Plant will be established by merging the shops of the company. A competitive enterprise having a team of highly skilled specialists, with a strong…Details
The members of the Parliament did not like being called terrorists because of Kumtor, Saidulla Nyshanov said at a session of the Parliament on November 16. The deputies discussed scandalous amendments to the Water Code permitting work on Davydov and Lysyi glaciers. Deputies also visited Kumtor, as well as representatives of the government and the…Details
Japanese corporations are interested in joint projects with Kazakhstan on geological exploration of gold and copper, Kazakh Kazgeologiya said in a message. During the Japan-Kazakhstan business forum entitled “Investment opportunities in the regions of Kazakhstan” in Tokyo, the sides discussed investment projects in the mining and metallurgy, energy, chemical, and agrarian industries. Vice-Minister for Investments…Details
Within its investment program ArcelorMittal Temirtau purchased special machinery valued at around $1.3 million for its Orken-Kentobe mine. In particular 4 new BelAZs have been put in operation. “The lifting capacity of the new machines is 55 tons. They have an increased passability and are completely computerized”, Orken-Kentobe transport director Sergey Shlepkin said. (Ukrainian metal)Details
In Q3 Lysva Iron and Steel Works received 91.5 million rubles of net losses, with the net loss of 218 million rubles in Q2, as opposed to 182 million rubles of net profit in Q3 2016. In January-September losses totaled 366.7 million rubles as opposed to 202 million rubles of net profit in January-September 2016.…Details