Russia Metals and Mining

Prodan: the Ukraine to buy coal in Russia.

Before the end of the year the Ukraine planned to import 5.6 million tons of coal, Russia is among its possible suppliers, Yuriy Prodan stated on Tuesday.
"We have taken measures to compensate for the deficit that exists. We enter into an agreement for the supply of coal from the territory of the Republic of South Africa, this is 1 million tons of coal, which are to be delivered up to the end of the year. We enter into an agreement for the supply of this brand of coal from Russia, unfortunately, this brand is only present in Russia and some other countries", - UNIAN quoted Prodan.
"The total volume under those contracts that we have on the coal supply to the end of the year is 5.6 million tons", - he added.

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Project of Kirov non-ferrous metal working plant acknowledged priority

Government of the Kirov region approved a list of priority investment projects in the region in the decree №247 dated September 3.
The list includes 19 investment projects of 14 enterprises of the Kirov region with the largest investment amounts and high levels of economic, budgetary and social efficiency.

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Buryatia seeks for leadership in gold production

In 2014, Buryatia is going to increase gold production by 5% to 6.2 tons, the Minister of Natural Resources of Buryatia Y. Safyanov says. He says that of the leaders in production is Buryatzoloto, a subsidiary of Nordgold that outstripped ore bodies at the Zoon-Kholbinskoye deposits with nice specifications, and bought the licenses for the new sites development.

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Mechel’s shares fall by over 15%

During today's trading on the Moscow Stock Exchange Mechel’s shares fell over 6 rubles. On Friday, 1 share of the metallurgical company cost 35.1 rubles, yesterday in the evening the value of its paper fell to 29 rubles.
At the same time, the cost of Mechel’s depositary receipts dramatically fell on the New York Stock Exchange. The trading of Mechel’s securities opened at the level of $0.95 per share in New York, which is by about 34.5% below the closing level of September 19th, 2014.
"The sharp decline in the value of the company’s shares was caused by rumors about the ongoing negotiations on the company’s debt restructuring," - a representative of the company said. "Mechel is making every effort to reach a mutually beneficial solution that would suit all parties," - he added.

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RUSAL plans to develop a new aluminum alloy.

By 2017 UC RUSAL plans to develop the technology to produce ruggedized nanostructured aluminium alloys for use in the electrical industry and other industries, according to Prime. The project will cost 100 million roubles, of which UC RUSAL will provide 40 million, and the federal target program - 60 million.
The engineering and technology center (ETC) of UC Rusal at Irkutsk aluminum smelter(IrkAZ), included in the group, will lead the development.
The aim of this project is to increase the strength of the electrical conductors 1.5-2 times to store the electrical conductivity at the same level, the message informs.

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According to Russian Ministry of Natural Resources,the introduction of the deduction of expenses for geological exploration from MET to increase oil reserves by 2 billion tons before 2035

According to the calculations of the Russian Ministry of Natural Resources, the introduction of the deduction of expenses for geological exploration from MET or profit tax will increase oil reserves by 2 billion tons before 2035, including through new discoveries. This will also ensure the additional production up to 400 million tons, the Minister of Natural Resources and Environment, Sergei Donskoy stated during the International Investment Forum "Sochi-2014".
According to him, the pace of geological exploration in Russia "is completely inadequate for the future" due to the fact that companies are not interested in large-scale search for new mineral deposits, as there are no legal mechanisms that encourage the exploration. The Minister cited the example of taxation in some countries where the proportion of natural resource rent is traditionally high. The taxation in the oil and gas production in such countries is based on the profit, and geological exploration is specifically stimulated. "The solution, in our opinion, could be the introduction of the system of the deduction of expenses for geological exploration from MET or profit tax base. There is an analogue in the legislation – the deductions of costs for provision of industrial safety in mines from the coal MET," - S.Donskoy said.

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Norilsk Nickel to use money from sale of Tati Nickel and Nkomati to pay dividends

Norilsk Nickel will use money from the sale of its African enterprises Tati Nickel and Nkomati to pay dividends, the company’s director of the department for investor relations, Vladimir Zhukov reported on the margins of the investment forum "Sochi-2014".
"It’s far from certain that these will be special dividends. This money can be added to some annual dividends. We have two main areas, where we direct funds – the capital expenditure program, about $6.5 billion in the next three years, and the payment of dividends,"- said Zhukov.
Norilsk Nickel expects closing the transaction on the sale of its African enterprises Tati and Nkomati in a few weeks, the negotiations are at an advanced stage.

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Alrosa does not have a president any more

The ex-president, F. Andreyev has decided to leave his post referring to health concerns. He announced that at the weekly session with the management of the company on September 22nd. Ceasing his operational governance over the company, he will continue his work in the supervisory council of Alrosa. The acting president of Alrosa is now the Vice President of the company I. Ryatshin.

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Experts think that merger of Alrosa and Kristall is inevitable

A merger of Alrosa and the largest domestic enterprise for the production of diamonds - Kristall – is a matter of time, some experts, close to the diamond and diamond-cutting industry in Russia, believe, the Izvestia writes.
Russia, represented by the state-owned company Alrosa, is the leader in the sale of diamonds abroad, but, according to statistics, only 13% of the mined remains in the country. According to the curator of the industry, the Deputy Prime Minister, Yuri Trutnev, "we must process the natural wealth of our country, leaving a high added value in the territory of Russia". We are talking about the Yakut diamonds that Alrosa mines and the exports of which grows: in the first six months of 2014, according to the Finance Ministry, it increased by 8.7% to $2.5 billion.

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Ufaleinickel can switch to hydrometallurgy

There carried out a scale operation on the repair and modernization of the current production, implementation of energy-saving technologies, aimed at an increase of the competitive ability of the products at Ufaleinickel (Verchny Ufaley city, Chelyabinsk region). It is said about in the press-release of the enterprise.

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