Russia Metals and Mining

In 2013, Metalloinvest decreased ore mining by 3.55% to 38.371 million tons

In 2013, Metalloinvest decreased ore mining by 3.55% to 38.371 million tons from 39.782 million tons in the previous year, the company reports.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In 2013, Metalloinvest reduced net profit by 37.5%

In 2013, Metalloinvest reduced its net profit by 37.5% to $1.08 billion, EBITDA by 12.3% to $2.24 billion, revenue by 10.6% to $7.324 billion, profitability by EBITDA by 0.6 basis points to 30.6%, net debt by 9.3% to $5.443 billion, ratio of net debt to EBITDA to 2.43 by the end of 2013 compared to 2.35 by end of 2012, and increased capital investment by 3.2% to $478 million. By December 31 2013, cash funds and their equivalents were $523 million compared to $468 million by the end of 2012.
Translated by Nadezhda Poltoratskaya

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In 2014, Pavlik is going to produce 2.4 tons of gold

In 2014, Pavlik ZRC JSC, a subsidiary of Arlan IK will launch the homonymous deposit in the Tenkinsky district of the Magadan region in August, and  is going to produce 2.4 tons of gold in 2015, the Vice CEO of the company for strategy development V. Makarov says at the session with the Governor of the region. The plant is going to annually process up to 3 million tons of ore and to produce 6-7 tons of gold at the first stage, and to double the indices at the second stage.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

In 2013, Polyus Gold reduced net profit by ISA by 6.7 times

In 2013, Polyus Gold Int., including Polyus Zoloto JSC reduced net profit by ISA by 6.7 times to $143 million, and corrected profit by 42% to $564 million. The company announces about writings off for $472 million due to the fall in gold price, including $248 million at the Nezhdaninskoye deposit, $138 million at Kuranakh and $48 million at Degdekanskoye. EBITDA reduced by 30% to $910 million, revenue reduced by 14% to $2.3 billion following 17% fall in gold price. Production prime cost increased by 1% to $707 per ounce.
Translated by Nadezhda Poltoratskaya

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Pervouralsk new pipe plant to increase life of pumping and compression pipes

A unique technological process, which is capable of increased wearing quality of tubing coupling, has been patented by Pervouralsk new pipe plant (a part of ChTPZ). Pervouralsk new pipe plant became the first pipe enterprise in Russia, which introduced technology of diffusion zinc coating of tubing coupling, using zinc powder with nanocrystallized structure of entities surface.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Mechel settles loan deferment with Alfa-bank

“Mechel” has agreed on a 5-weeks deferral of repayment at $150 million, a spokesman for “Mechel” said.
They officially confirmed the information in Alfa-bank.
There appeared information a week ago that the bank wanted Mechel to cancel the credit at $150 million before schedule. At that time they said in Mechel that they had money to redeem the debt.
Under the agreement, the company is to pay loan in June-July 2014, but the covenants were violated as far back as in autumn last year, a companion of RBK said. The debt was announced to be redeemed 2 weeks ago and Mechel was to pay the debt the next day, a spokesperson, familiar with the situation said. The problem was discussed at the meeting with the Minister of Finance A.Siluanov.  Alfa-bank has agreed to postpone the payment for another 5 weeks.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Tagmet confirms compliance of its products with GAZCERT

Taganrog metallurgical plant (Tagmet, a part of TMK) has passed certification of welded pipes for gas and water conveyance and electric-welded pipes in system of voluntary certification GAZCERT that confirms their competitiveness for supply to Gazprom.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

FGC UES to provide an output of more than 150 MW to expand the Stojlensk Mining and Beneficiation Complex.

The Federal Grid Company started upgrading the power supply for one of the largest producers of iron ore – the Stojlensk Mining and Beneficiation Complex. Upon the completion of work, the company will get 151 MW of power required to run a new factory for the production of 6 million tons of iron ore pellets per year.
"We have a task before us - to provide the technological opportunities for the expansion of the company. 

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Analysts predicts decline in profits in Polyus Gold at year-end 2013

The net profit of Polyus Gold International Ltd, the Russian largest gold producer, may be only $100 million in 2013 (10 times less than in 2012). Analysts say, explaining it by nonmonetary deductions and the reduction of prices on gold. The decline of the revenue is expected to make up 12%, to $2.3 billion, EBITDA will go down by 37% to $870 million.
The net loss of Polyus Gold under IAS made up $173 million because of write offs in H1, 2013 against the income in 2012. It was due to devaluation of assets by $469 million amidst gold prices reduction. According to analysts, the net profit of the company in H2, 2013 will make up $25-300 million. Analysts do not anticipate writing offs in H2, 2013.

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Metalloinvest announces its financial results under IAS for 2013

Financial results:
The proceeds made up $7 324 million (-10.6%);
EBITDA was $2 240 million (-12.3%);
The EBITDA profitability made up 30.6% against 31.2% in 2012;
The net profit was $1 080 million (-37.5%), and the net debt was $5 443 million;
The ratio net debt/EBTDA made up 2.43x against 2.35x (+3.2%);
The capital costs made up $478 million (+3.2%) and the assets - $10 451 million (+0.9%).
 
The industrial results:
The production of iron ore made up 38.4 million tons (-3.5%), pellets – 22.6 million tons (-0.3%), hot-briquetted iron/ direct-reduced iron – 5.3 million tons (+3.1%), cast iron – 2.2 million tons (+4.9%),steel – 4.7 million tons (+16.7%).

Full text available to premium subscribers only.

Buy full access for 24 hours now

or

Request a quote to subscribe for a longer period

Oil and Gas, Metals and Mining, News from Russia and neighbouring countries
42a Pushkina Street; Ufa, Bashkortostan 450076; Russia
E 54° 43.48836" N 55° 55.52346"
Telephone: +7 927 303 00 25

Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer