Metals and mining

In 2014, Kazakhmys to maintain copper production at the level of the previous year

In 2014, Kazakhmys Plc plans to maintain the last year’s volume of copper production, the company’s press centre reported.

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Growth of steel consumption in Russia to make up 3% in 2014

~~In 2014, Severstal expects increase in steel consumption in Russia by 3%, mainly due to growth in such sectors as construction and the oil and gas industry (including due to purchase of large diameter pipes for new projects), Severstal reports, referred to its general director and the main shareholder of the company, Alexei Mordashov.
“In 2014, the management’s efforts will be directed to the further improvement of the profit rates. The implementation of the previously approved strategy of the company, aimed at the increase of efficiency, the maintenance of the lowering of costs, the optimization of capital investments and the creation of higher added value due to a better customer-oriented approach and the  improvement of product portfolio will contribute to it,” – the main shareholder of Severstal noted

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Severstal reports its financial results in the 4th quarter and 2013

Results of 2013 in comparison with results of 2012:
Good dynamics of performances, showed against the background of complicated market conditions, was reached due to focus, made on increase of internal efficiency, costs control, improvement of product range and increase of customer-oriented approach;
Increase of EBITDA rate during all quarters of 2013;

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Kazakhmys considers possibility of reorganization

Kazakh company Kazakhmys considers possibility of reorganization by separation of Vostoktsvetmet’s enterprises from Kazakhmys Corporation into an independent legal entity within the public company Kazakhmys Plc, the company’s press centre reported.
According to the report, Kazakhmys Corporation will keep assets of the following enterprises: Zhezkazgantsvetmet, Karagandasvetmet, Kazakhmys Smelting and Kazakhmys Energy, and will continue to operate as a private, non-public company. The Kazakhmys group’s Board of Directors and executive management believe that such reorganization will provide perspective for a successful long-term development of the assets.
"The assumed reorganization will allow enterprises of the Karaganda region to conduct their own investment policies, being within an independent structure without debt burdens of the public company, that will have a positive impact on the upgrade of the assets, recovery and expansion of resources in the Karaganda region. Vladimir Kim will continue to be the main shareholder in both companies,"- said the press release.

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In 2013, Kazakhmys reduced its loss by 10.5% to $2.032 billion

In 2013, Kazakh mining company Kazakhmys Plc made the net loss in the amount of $2.032 billion against the loss in the amount of $2.270 billion by results of 2012, the company’s press centre reported.
In 2013, the company’s proceeds fell by 7.6% to $3.099 billion as compared with $3.353 billion in 2012. In the reporting period, the company’s EBITDA was $1.149 billion as compared with $1.912 in 2012. The report explains that the decrease in this rate was caused by low metal prices, reduction of sales and increase in costs. By results of 2013, the company made the pretax loss in the amount of $681 million against the pretax profit in the amount of $151 million in 2012. In 2013, the base profit declined to $190 million from $492 million in the previous year.

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Gazprombank says goodbye to titanium – it leaves VSMPO-Avisma’s share capital

As the Kommersant has got to know, Gazprombank that helped VSMPO-Avisma’s management to obtain control in the company a year and a half ago, now leaves its capital. As a result, Mikhail Shelkov and Mikhail Voevodin consolidate about 65% of VSMPO’s shares. Rostekh will maintain its blocking stake in the company, but the majority shareholders are ready to buy all its securities from the market.
The VSMPO-Avisma’s management headed by Mikhail Shelkov and Mikhail Voevodin have bought 15% of the titanium company’s shares from Gazprombank. This was told by sources that are close to VSMPO’s shareholders and confirmed by co-owner and general director of the company Mikhail Voevodin and the bank’s vice president Andrei Zokin.

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Alrosa to mine 5 million carats per year at the Udachnaya pipe

In July of 2014, Alrosa plans to launch the largest underground mine in the world at the kimberlite pipe of Udachnaya, provided for mining of 4 million tons of ore that corresponds to production of a little more than 5 million carats of raw diamonds, the company’s head, Fedor Andreev reported at the meeting with the Russian President ,Vladimir Putin.
“In July of the current year, we plan to launch the largest underground mine in the world  - the Udachny – that will allow us not only to maintain our production level, but also provide people with jobs,” – Andreev said.

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Iron ore assets of Metinvest: where and why profit-2013 grew

On Tuesday, February 25, financial rates of mining and dressing enterprises of the Metinvest group, for 2013 were published. According to information of the enterprises, prepared for annual meetings of shareholders that will take place in March and April, last year Severny GOK increased its net profit by over 25% as compared with 2012 to a little more than 4.44 billion hryvnias, and Centralny GOK doubled its profit to about 1.575 billion hryvnies. Another GOK of the group – Inguletsky – decreased its net profit by 1.1% to 4.713 billion hryvnias last year. Together these three iron-ore enterprises of Metinvest earned 10.73 billion hryvnias in 2013, or over $1.187 billion.
Last year’s results of these enterprises also show growth concerning 2012. Last year, the Severny GOK increased production of iron ore concentrate by 3% to 15 million tons and pellets by 8.8% to 10.84 million tons. In the same period, the Centralny GOK maintained the production of pellets (2.31 million tons) at the level of the previous year, but increased the output of concentrate by 3% to about 6.6 million tons. The Inguletsky GOK increased the production of concentrate by 0.2% to 13.62 million tons (the enterprise doesn’t output pellets).

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Kuzbassrazrezugol starts to construct dressing plant with capacity of 3 million tons of coal per year

A new dressing plant to handle 3 million tons of coal per year will be constructed at the Kaltansky opencast coal mine, UGMK reports.
The new dressing plant Kaltanskaya-Energeticheskaya will be the 6th dressing plant of the company. In accordance with the program of dressing capacities development, 9 dressing plants will operate at Kuzbassrazrezugol by 2018.
“The dressing plant Kaltanskaya-Energeticheskaya is the first stage of the large-sale program of dressing capacities increase in 2014-2017. Three more new dressing plants are planned to be launched in this period – at the Taldinsky, Krasnobrodsky and Bachatsky opencast coal mines, one per year. As a result, Kuzbassrazrezugol will process and dress all available coal that is 90% of the total production volume,” – UGMK reports.

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Loading of Serov metallurgic plant doesn’t exceed 75%

In January of 2014, production at the Serov metallurgic plant was decreased by 20% as compared with 2013. This led to necessity to optimize costs. The enterprise reported that decision on reduction of 196 employees was made because of this. In January, the plant produced 21 thousand tons of commercial rolled metal and calibrated steel that is by 20% less than in the same period of the previous year.

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