Russia: MMK recognized by the Ministry of Natural Resources and the Environment for its active environmental policy

MMKBy admin 21.12.2017 Leave a comment

Magnitogorsk Iron and Steel Works was awarded by Russia’s Ministry of Natural Resources and the Environment for its active environmental protection policy. Government experts awarded MMK top marks for its large-scale environmental projects this year. The awards ceremony took place on December 12 at the Ministry’s Federal Environmental Council in Moscow. MMK’s Director of Occupational…

Russia: MMK recognized as one of WWF Top Ten most environmentally responsible companies

MMKBy admin 15.12.2017 Leave a comment

Magnitogorsk Iron and Steel Works has been named one of the World Wildlife Fund’s Top Ten most environmentally responsible mining and metallurgic companies in Russia in 2017. MMK came eighth place in a list, the highest achievement for Russia’s iron and steel companies. The results of the study were presented at the UN office in…

Russia: MMK to pay dividends for Q3 2017

MMKBy admin 12.12.2017 Leave a comment

Shareholders of the Magnitogorsk Iron and Steel Works decided to pay dividends for the operation in Q3 in the amount of 1.111 rubles per ordinary share. The total amount is around $209 million, or 59% of the company funds. This corresponds to the dividend profit of 2.5%. The shareholders entitled to receive dividends will be…

Russia: MMK agrees on LMZ purchase

Lysva Iron and Steel Works, MMKBy admin 12.12.2017 Leave a comment

Magnitogorsk Iron and Steel Works has finalized the deal on the purchase of 100% of LMK Group. The group comprises of Lysva Metal Company, Lysva Iron and Steel Works and Insayur-Autotrade-TL Trade House. LMK Group is the only producer of electrolytic galvanized rolled metal with coating in Russia. Its total capacity is 350 thousand tons…

Russia: MMK managers in LMZ board of directors

Lysva Iron and Steel Works, MMKBy admin 11.12.2017 Leave a comment

Shareholders of Lysva Iron and Steel Works have approved of the board of directors reelection and the cancellation of the management agreement with Lysva Metallurgical Company LLC, as well as attracting a 3-year loan of 4 billion rubles at 8% from MMK. MMK managers have also been elected to the board of directors. LMZ capacity…

Russia: Antimonopoly Service approves Lysva Works sale to MMK

Lysva Iron and Steel Works, MMKBy admin 24.11.2017 Leave a comment

MMK has received the approval of the Federal Antimonopoly Service for the purchase of Lysva Iron and Steel Works with the capacity of 360 thousand tons per year. Back in September MMK reported that it was regularly monitoring the M&A market and was ready to discuss the acquisition of prospective assets. At present neither MMK,…

Russia: MMK to get Gazprom gas

MMKBy admin 23.11.2017 Leave a comment

Magnitogorsk Iron and Steel Works has concluded a 10-year agreement with Gazprom Mezhregiongaz Kurgan for the delivery of gas. The volume of the deal is 40.4 billion rubles without VAT. The agreement is valid through December 31, 2027. At present the main volume of gas to MMK is provided by Novatek-Chelyabinsk. Thus, MMK is diversifying…

Russia: MMK Board of Directors recommends dividends for January-September 2017

MMKBy admin 10.11.2017 Leave a comment

On November 8 Magnitogorsk Iron and Steel Works Board of Directors recommended that the Extraordinary General Meeting of shareholders scheduled for December 8 approve a dividend of RUB 1.111 (before taxes) per share, representing a total of approximately $214 million at the current exchange rate, for the first nine months of 2017 on MMK’s issued…

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