Russia Metals and Mining

More than 40 large hydrocarbon fields in the Arctic are in Russian sector

More than 40 large hydrocarbon deposits in the Arctic are in the Russian sector. And next year, after submission of an application to the United Nations, Russia plans to expand its domain due to the Lomonosov and Mendeleev Ridges.
At the end of last year, Russia received the first batch of Arctic oil. The development of the Arctic shelf began from the development of Prirazlom field. In general, about 60 large deposits of hydrocarbons are in the Arctic, more than 40 of them are located in the Russian sector. Today Russia is now planning to expand its domain due to the Lomonosov and Mendeleev Ridges at the bottom of the Arctic Ocean. The corresponding application is expected to be submitted to the United Nations next year.

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In H1, NLMK increased net profit by 4.6 times

In H1, NLMK increased its net profit by US GAAP by 4.6 times to $332 million. In Q2, it reduced by 9% to $158 million.
In H1, NLMK reduced revenue by 4% to $5.446 billion. In Q2, it increased by 6% to $2.808 billion.
EBITDA increased by 48%to $1.603 billion in H1, and by 27% to $594 million in Q2.
In Q2, the major domestic consumers of NLMK, the construction and infrastructure sector enterprises demonstrated their seasonal balance, and at the global markets, metal products demand stabilized at the level of Q1.
The loading of NLMK’s steel smelting capacities remained close to their maximum, despite a reduction in steel production at the major site by 3% versus Q1 due to repairs in the blast furnace shop. In Q3, they await compensation of that reduction by a growth in steel production by 5%.

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Federal Technical Regulation and Metrology Agency approves two copper standards

Four new interstate standards have been approved by orders of the Federal Technical Regulation and Metrology Agency (Rosstandart). "The adoption of interstate standards gives Russian enterprises possibility to diversify their assortment, taking into account modern technical requirements, to improve the quality and competitiveness of their products on the markets of the Customs Union and the CIS," - the press release of Rosstandart says.

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ChMK has shipped rails to Norilsk Nickel

The Chelyabinsk metallurgical plant (ChMK in the structure of Mechel group) has shipped the rails to the Trans-Polar branch of Norilsk Nickel.
The rails of the universal rail-and-structural steel mill will be used by ChMK at the repair and construction of technological railways at the trans-Polar branch of Norilsk Nickel. The volume of the differentiated and thermal-strong rails of P50 type made up about 850 tons.
The rails of P50 category is the second type of rails produced at the universal rail-and-structural steel mill along with P65. The products of the rail unit of ChMK are certified by the Promtransniiproekt Institute (Moscow) by TU 14-2Р-475-2013. These are the differentiated and thermal-strong rails of wide tracing ruts for railway transport of organizations.

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S.Lavrov: Russia and Kazakhstan to sign agreement on atomic power plant soon

Russia and Kazakhstan will sign in the near future an agreement on the construction of atomic power plant in the Kazakh city of Kurchatov, said the Russian Foreign Minister Sergei Lavrov on August 6th. Previously, the state-owned corporation Rosatom reported that Russia and Kazakhstan developed a draft intergovernmental agreement on cooperation in the construction of the first nuclear power plant in Kazakhstan, and substantial progress was reached in the matter. "The agreement is getting ready to be initialed, and it will be signed soon," - Lavrov said at the meeting with his Kazakh counterpart E. Idrisov. On May 29th, Rosatom and Kazatomprom signed a memorandum of understanding on cooperation in the construction of the first Kazakhstan atomic power station with water-cooled power reactors of Russian design with estimated capacity of from 300 MW to 1200 MW.

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Victor Tolokonski: ""Norilsk Nickel" environmental plans are major qualitative changes".

The meeting of the Regional Public Council for the Environmental Protection of the Governor of the Krasnoyarsk Region took place in Krasnoyarsk. E.V. Vavilova, the Acting Minister of Natural Resources and the Environment, presented a report on the current environmental situation in the Krasnoyarsk region to participants of the event - the deputies of the Legislative Assembly and the City Council, the academics and representatives of environmental organizations.
Then the attendees got acquainted with the ongoing and planned activities to reduce the negative environmental impact of the leading enterprises of the region: "Vankorneft", MMC "Norilsk Nickel", "Krasnoyarsk Cement", UC "RUSAL", the Krasnoyarsk branch of LLC "Siberian Generating Company". So, the first step in major environmental changes in the region, scheduled by MMC "Norilsk Nickel", will be the stopping of the Nickel Plant in 2016. As Alexander Rumin, the director of the Taimyr Peninsula, explained: "with the nickel capacities closed the emissions of sulfur dioxide will be reduced by 15%, there will be a substantial reduction in the maximum allowable concentrations in a residential area of the city".

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Russian steel market in H1, 2014

Many specialists say the prices on mill products may have reached their peak in H2 and are about to go down in the autumn. The prospects of the domestic steel sector are not fairly good. At least, they are better than it was supposed to be in early 2014.
The first half of 2014 was successful for Russian metallurgists. The quotations on flat-rolled and long products in the world market stagnated during this period.

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Casting and rolling shop of OMK increased rolled steel production by 6%

In H1, the casting and rolling shop of OMK increased hot rolled steel production by 6% to 530,000 tons. They also made within the period 162,000 tons of strips and 24,000 tons of steel plates. The growth in production is connected with the increase in rolled steel consumption by the pipe shops of the Vyksunsk metal works as its production capacities and the volume of the orders increased in comparison with the former period.

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P. Fyodorov, Norilsk Nickel Executive Officer: the sanctions will not influence the development of the company

Neither the EU nor the USA are the states with a developed mining industry.
P. Fyodorov, of Norilsk Nickel tells Russia 24 TV Channel about the potential of relations with the Eastern states. The company is one of the first that re-oriented to the East and continues the correction of this strategy. He claims that all their first-class mining projects are located in Russia. First of all, they are the projects of the Norilsk industrial area and a number of projects at the Kola peninsula. Norilsk Nickel has analyzed in details all the African and Australian projects, and none of them could be regarded the first class assets on which the company would concentrate its efforts.
The eastern vector of development of the company’s economy is politically correct as well. Our Chinese partners are reliable metal consumers independent from Western sanctions. Nickel consumption rapidly increases in China. Now the state consumers 1 million tons of the metal a year, including nickelized cast iron, that is rather a lot. Speaking about the company’s supplies, before the talk about the sanctions and worsening of the external situation, they increased by 3 times from 30,000 tons in 2008 to 100,000 tons of nickel this year. Palladium sales have increased by 7 times, from 10 tons in the beginning of 2000-s to 65-70 tons now.

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S&P has raised the rating of Severstal OJSC from “stable” to “positive”

 The agency has confirmed the long-term company’s rating at the “BB+” level.
S&P has raised the forecast by the credit rating of Severstal from “stable” to “positive”, the agency reports. S&P confirmed the long-term corporate credit rating of the company at the “BB+” level and the rating by the national scale at the “ruAA+” level.
Severstal OJSC is one of the largest in the world vertically integrated steelmaking and mining companies with the assets in Russia and the USA, as well as the Ukraine, Latvia, Poland, Italy, Liberia an Brazil.
A. Mordashov controls 79.2% of the company.

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