In 2016 Metalloinvest increased iron ore output by 3.1% YoY, to 40.7 million tons. In Q4 2016, the company increased iron ore production1 to 10.3 million tons, up by 4% QoQ. Annual pellet output reached 25.2 million tons, up by 5.9% YoY, mainly due to the launch of Pellet Plant #3 at MGOK. In Q4…
Metalloinvest and United Metallurgical Company (OMK) have signed a long-term contract for the supply of steel billets for the production of seamless railway wheels. Round cast billets with a diameter of 455 mm will be produced at Ural Steel, a part of Metalloinvest, and will be delivered to the Vyksa Steel Works (VMZ, Nizhny Novgorod…
Metalloinvest has concluded long-term contracts for the delivery of hot-briquetted iron to Magnitogorsk Iron and Steel Works (MMK), Tube Metal Company (TMK) and the ChTPZ group. Metalloinvest will supply 570 thousand tons of HBI: 200 thousand tons to MMK, 220 thousand tons to TMK and 150 thousand tons to ChTPZ. “These are the first long-term…
Russian metals holding Metalloinvest plans to make an initial public offering (IPO) and is waiting for a good market environment, a spokesman for the company reported. “Metalloinvest is procedurally ready for the IPO in many respects and the degree of readiness will be even higher after the completion of the shareholder capital reorganization. The iron…
Metalloinvest is negotiating the transit of 5 million tons of mining products through Ukraine with Ukrzaliznytsia and the TIS group. “We have a client who wants to transport 5 million tons of products to Ukraine. That’s transit. We have decreased transshipping tariffs in the port, but we are still uncompetitive. If Ukraine doesn’t take this…
In January-June Metalloinvest received $428 million of net profits, down by 17.2% YoY. According to the company statement, its revenues dropped by 20.8% YoY, to $1931 million. EBITDA decreased by 38.9%, to $533 million. Net debts remained on the December 31, 2015 level at $3851 million. The company believes the drop in its finances has…
Metalloinvest 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…
Metalloinvest has signed a RUB 6.8 billion agreement to ship iron ore concentrate of the highest grade with iron content of up to 69.5% to Industrial and Steelmaking Holding (ISH). Prices take into account changes in market conditions. In 2016, Metalloinvest started sales of high-grade products with a low silica content and increased iron content.…
