Russia Metals and Mining

In Q1 2014, Russia reduced coal production to 113 million tons

In Q1 2014, Russia reduced coal production by 1.8% to 113 million tons. In April, Russia reduced coal production by 9.8% to 26.765 million tons, the Central Dispatcher Department of Fuel and Energy Sector reports.
Coal exports increased by 11.5% to 48.985 million tons, including 12.551 million tons in April (+6.4%).
Coal imports fell by 13.5% to 9 million tons, including 2.151 million tons in April (-4.9%).
Translated by Nadezhda Poltoratskaya

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Russia reduces rustproof steel exports

Russia reduced rustproof steel exports by 49.8% to 2,713 tons, according to evaluation of SpecSteel Association. It reduced exports of flat sections by 3.9% to 374 tons, wire by 52.9% to 8 tons, seamless pipes by 22.2% to 492 tons, electric welded pipes by 91.6% to 15 tons and primary intermediates by 92.5% to 185 tons. Sort steel exports increased by 103.1% to 1,639 tons.
Translated by Nadezhda Poltoratskaya
Source: http://www.metalinfo.ru/ru/news/71046

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VSMPO-AVISMA’s net profit increases by 39.4%

The company presented its financial statements for 2013.
In 2013 according to the International Financial Reporting Standards VSMPO-AVISMA’s net profit grew by 39.4% compared with 2012, amounting to $279 million 696 thousand dollars, RBC informs, referring to the report of the company.
In 2013 VSMPO-AVISMA’s IFRS revenue grew by 13.9 % and amounted to 1.612 billion dollars compared to 1.415 billion dollars in 2012. The gross profit amounted to $ 659.969 million ($ 590.254, an increase of 11.8%), the operating profit – $ 388.794 million ($ 296.348 million a year earlier, an increase of 31.2%), the profit before tax – $ 347.822 million ( 265.790 million in 2012, an increase of 30.9 %).
The ultimate supervisor beneficiary of the corporation is Mikhail Shelk.

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Norilsk Nickel sees increase in prices

Norilsk Nickel finished Q1 with the forecasted operational results. A slight reduction in nickel and copper production is connected with upgrading of the GMK’s enterprises and the optimization of the production expenses. Nickel production reduced by 5.2% to 67,800 tons within the period, due to the reduction in the yield of Kola GMK, Tati Nickel’s enterprise and reserving of operations at Lake Johnston in Australia. Copper production reduced by 0.7% to 90,400 tons that meets the forecasts of the company. This decline is compensated with growth in production of platinoids. Palladium production increased by 3.8% to 610,000 ounce. Platinum production increased by 6.9% to 150,000 ounces.

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Mechel’s stocks rose in price by 12% in the USA

Mechel’s stocks rose in price by 12% to $2.05 per stock in the USA at the background of the news about the anticipated repayment of a debt of $150 million by Mechel to Alfa Bank. However the transactions are still risky investment due to immense debt of Mechel in accompany with the tough credit situation and low prices for steel and coal, the Moscow analyst ,A. Tretelnikov says.
Bloomberg states that all Russian stocks began declining on the background of escalation of the conflict in the Ukraine and its spreading to the neighboring regions.

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The Altai Territory authorities are seeking the investor for waste deposits.

The Zolotushinsk concentrator tailings are not hopeless for re-development, Alexander Karlin, the Governor of the Altai Territory, and the press service of the regional administration stated.
The attempts to find an investor were taken a few years ago. Then there were two companies that were willing to participate in the tendering procedures, but because of the crisis and the decline in prices for non-ferrous metals, the project never came to fruition. Currently, this issue is not preserved and is still under development. According to Alexander Karlin the Zolotushinsk concentrator tailings of the Loktevsk region are not hopeless for re-development. The head of the region stated that the search for an investor would continue.

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In 2014, Crystal increases diamonds production by 4%

Last year Crystal made 137,700 carats of diamonds for $212 million. Revenue from diamond sales was $287.2 million; they sold 159,000 carats of diamonds, the CEO of Crystal Shkadov says. One of the tasks for 2013 was the sales of ready products (stock). Total revenue for 2013 was $392.2 versus the forecast of $387 million, and the production plan of 145,000 carats. This year Crystal awaits production of 143,000 carats for $250 million.

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In January – March, Norilsk Nickel increased nickel production by 5.2% to 67,818 tons and reduced copper production by 0.7% to 90,374 tons

In January – March, Norilsk Nickel increased the production of nickel by 5.2% to 67,818 tons, palladium by 3.8% to 18.97 tons and platinum by 6.9% to 4.67 tons, and reduced copper production by 0.7% to 90,374 tons.
In Q1, the Russian enterprises of the company reduced nickel production by 1.4% to 55,700 tons, due to the planned reduction in concentrate processing from the Zapolyarye subsidiary at Kola GMK in connection with the planned repairs at the Nadezhdinsky metal works and the stoppin in tolling material supplies by Fortaleza. Copper yield remained nearly unchanged at a rate of 88,900 tons. They increased the production of palladium by 4.5% to 597,000 ounces and platinum by 6.3% to 146,000 ounces, at the expense of gathered uncompleted production.
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Mechel unable to pay $300 million to Alfa Bank for Donetsk electric metal works

Last Friday Mechel of I. Zyuzin paid the last tranche of Alfa Bank credit of $150 million, several sources close to Mechel and Alfa Bank claim to Vedomosti. Mechel and Alfa Bank confirm the news.
Mechel faced the need to prematurely pay off the debt 1.5 months ago. On March 13th, Alfa Bank demanded at the meeting of  Mechel  and its creditors that the company should pay off the credit within one week. Mechel raised the money in Alfa Bank in August 2013 when it opened long-term revolving credit line; they reported nothing about its size then. The payment date was June or July. The representative of Alfa Bank explained then that Mechel violated covenants for the credit that became the basis for the demand to immediately return the money. Later the sources close to Mechel told that in the end of 2013 the company agreed about covenant holidays with all creditor banks with exception for Alfa Bank. If Mechel failed to pay to the creditor then it would happen cross-default on the other liabilities, the company announced in the accounting for 2012.

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MMK Group increased steel production in Q1 2014 by 9.4%

The total steel production in the MMK Group was 3.188 million tons, by 9.4% more than in Q4 2014, and by 4% more than in Q1 2013. Trade products dispatch increased by 7.2% to 2.919 million tons (+2.6% to Q1 2013). HVA products yield reduced by 2.8% to 1.281 million tons. HVA products shared 44% in total yield. Products dispatch to the consumers increased by 8.6% versus Q4 2013 and by 2.8% versus Q1 2013 to 2.822 million tons. Growth in sales is presupposed by growth in export dispatch by 29.2% and growth in supplies to the Russian and the CIS market by 4.1%.
 

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