Metalloinvest carries on its investment program of mining transport development of its mining and processing works. According to the company statement, in March Lebedinsky and Mikhailovsky GOKs received 2 new BelAZ trucks with the lifting capacity of 220 and 130 tons, as well as a locomotive with cars. Three more trucks will be supplied in…
Metalloinvest will pay dividends for 2016 in the amount of 18.94 kopeks per 1 ordinary share. The total amount of dividends to be paid is 14.19 billion rubles. In November 2016 the company announced the payment of 220 billion rubles of dividends to complete consolidation and transfer shares to the Russian jurisdiction (2.939 rubles per…
Metalloinvest is transferring its managing company from Moscow to Stariy Oskol in the Belgorod region. The town houses its main manufacturing capacities. Moscow will retain financial division, GR and marketing. The transfer has already commenced and is expected to be finished in 2018. Half of the managing company will be relocated to Stariy Oskol by…
In 2016 Metalloinvest sold a packet of Nornickel ADR valued at $342 million (1.4%). According to the group statement, as of December 31, 2015 it owned 3.2% of Nornickel shares, as of December 31, 2016 – 1.8%. Now the group has some 29.013 million ADR of the nickel company, having sold over 21.181 million. Nornickel’s…
In 2016 Metalloinvest received $1.15 billion of net profits, up 5.3-fold YoY. The company revenues decreased by 3%, to $4.26 billion. EBITDA dropped by 12.2%, to $1.258 billion. The company debts decreased to $3.16 billion from $3.56 billion as of December 31, 2015. “In 2016 Metalloinvest reached record iron ore output volumes at Lebedinsky and…
Standard & Poor’s Ratings Services (S&P) has revised its outlook on Metalloinvest from Negative to Stable. S&P also affirmed the company’s ‘BB’ long-term corporate credit rating. According to S&P’s latest report, the upgrade to a Stable outlook reflects positive iron ore price trends, as well as actions taken by Metalloinvest’s management team to deleverage and…
Metalloinvest announced the signing of an additional loan agreement with ING Bank. According to the terms of the agreement, the ING Bank has increased the limit of the company’s revolving credit line from $100 million to $150 million and extended the duration of the loan by two years. The bank has also improved the terms…
Uralskaya Stal, a part of Metalloinvest, has started producing slag pots. The first trial pot for the pig iron manufacture of the company was produced in July 2016. The pot is still operating, even after 500 pourings. Metalloinvest buys 30 slag pots for its enterprises each year. Following the pot for the blast furnace shop,…