Russia Metals and Mining

Metalloinvest pays 448.8 million rubles in repayment of the 6th coupon of the 6 series bonds

Metalloinvest has paid 448.8 million rubles in repayment of the 6th coupon of the 6 series bonds, the company reports.

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In 2015, consumption of coated flat rolled metal in Russia may be at the level of last year

S.Maslennikov, CEO of Steelinvest, has spoken at the conference "Painted and galvanized rolled steel-2015", which is currently underway in Moscow.
He noted that at the beginning of last year, it was expected that the consumption of coated steel in Russia would be about 6.0 million tons in 2014, but the actual consumption was 5.64 million tons, i.e., almost at the level of 2013 Thus, in the first 5 months of the year there was an increase in consumption as compared to 2013 (+ 3%), but in the next 5 months there was the decrease in the consumption (-3% over 10 months).
The consumption of galvanized rolled steel in Russia reached 3.34 million tons, while Russian manufacturers provided 77% of this volume. The import amounted to 740 thousand tons, decreased by 9% as compared with the previous year.

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Russian Platinum wants to buy plant from Norilsk Nickel

Russian Platinum, which develop two platinoid deposits in Taimyr, has offered to buy a plant from Norilsk Nickel, which it prepares for conservation, said representative of Russian Platinum Andrei Rumyantsev.
"We believe that the closure of nickel plant will put Norilsk Nickel and the city in front of a number of problems - social, technological, infrastructural, which we could solve. We could undertake some risk of the plant closure, rebuild industrial site, recreate jobs, thereby forming the tax deductions,"- he said.
Russian Platinum estimates the cost of Norilsk Nickel for the plant conservation at 1.5 billion rubles. How much, according to Russian Platinum, the enterprise costs, Andrei Rumyantsev didn’t specify. Response to the initiative hasn’t yet been received, he said. Norilsk Nickel doesn’t comment on the proposal.
An alternative to buying the nickel plant can be as acquisition of a platform and energy infrastructure of the company, said Andrei Rumyantsev.
Norilsk Nickel plans to close down the obsolete nickel plant, commissioned in 1942, in 2016. The volume of metal refining and smelting will be moved from the nickel plant to a more modern Nadezhda metallurgical plant, for which overhaul to increase the capacity of smelter furnaces is carried out at the plant.

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In 2015 Vyska steel expects growth of 20% - up to 2.2 million tons.

Managing director of the plant Sergei Filippov told about the current and future activities of Vyksa Steel Works, one of the largest in Russia and Europe, in an interview with "Metal Supply and Sales".
- What measures are taken to reduce the impact of unfavorable economic conditions?
- Of course, it's a pretty tough period. To reduce the negative impact of all these factors we enabled work on import substitution of the materials and components in procurement for the needs of production at the plant, as well as initiated the increase in selling prices for products.

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In 2014, MMK reduced its net loss under IAS 55 times

In 2014, the net loss of the Magnitogorsk metallurgical plant (MMK) under IAS amounted to $44 million against the loss in the amount of $2.429 billion in 2013, the company reports.

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"Mechel" agrees to pay VTB 4.5 billion roubles.

"Mechel" will pay 4.5 billion roubles of interest debt to VTB, "the Vedomosti" informs, citing sources familiar with the negotiations, on Thursday, March19.
Previously the owner of 51.2% of "Mechel" Igor Zyuzin and VTB President Andrey Kostin held a meeting where they discussed the restructuring of the company's debt to the bank. The parties agreed to the settlement of percentage of debt 4.5 billion roubles by "Mechel", which includes interest payments on a loan of 44 billion roubles, as well as fines and penalties for late payments.

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The number of rigs on the Russian shelf to double.

Shipbuilding enterprises of Russia and Asian countries will increase the rate of production of mobile drilling platforms for offshore operations in Russia.
It is expected that by 2030 on the Russian shelf the number of drilling rigs will double to 30 units, the Deputy Energy Minister Kirill Molodtsov informs.

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In 2014 "Metalloinvest" reduces its net debt by 23%.

At the end of the reporting period the share of long-term borrowings decreased to 86.4% compared to 96.8% on December 31, 2013 in connection with the forthcoming offer on rouble bonds in March 2015.
The net debt of "HC "Metalloinvest", the largest iron ore producer in Europe and the CIS in 2014, under IFRS decreased by 23.1% - up to 4.185 billion dollars, the company informs.

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"Rosneft" places a bet on Trafigura.

Trader will provide the company with prepayment in hard currency.
The Swiss trader Trafigura, who from April, according to unofficial data, will buy about 1 million tons of oil per month from the oil company, can become the largest trader of "Rosneft". According to "the Kommersant", the contract provides for  advance payments, and under normal conditions for such contracts "Rosneft" can get almost $ 1 billion from the trader for the next six months. Cut out due to the sanctions from Western funding "Rosneft" needs funds to pay for off its debts.
The Swiss trader Trafigura is in talks with "Rosneft" to increase its purchases of crude oil from the oil company. According to Reuters, in April trader will start to export more than 1 million tons of "Rosneft" oil a month - nearly six times more than what Trafigura buys now. A source of "the Kommersant" in the market confirms this information, but adds that currently the contract is not concluded, the negotiations continue and the final volume of deliveries for the trader and delivery terms are not defined. "Rosneft" and Trafigura do not comment on the situation.

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Mechel claims for state support

As the Forbes has got to know, President Vladimir Putin instructed officials to study perspectives of the Elga coal deposit.
Elga coal complex of Mechel in Yakutia can receive government support. The Russian President Vladimir Putin instructed his authorized representative in the Far East Yuri Trutnev to study this possibility, two people who heard about it at the recent government meeting reported to the Forbes. Representative of Trutnev Timur Chernyshev confirmed that "there are instructions of the President to look into the prospects of this project and to understand what is required to launch it". "In the near future, this work will be done," - he said. A representative of Mechel confirmed that the company has been engaged in dialogue with government agencies about the possibility of state involvement in the development of the Elga project infrastructure for several months, but declined to comment on the possible instruction of Putin. Putin's spokesman Dmitry Peskov said that he was not aware of the President's instruction about Elga.
This may be the inclusion of the construction of the Elga coal mining complex in the list of priority investment projects of the Far East, said one of the Forbes’ interlocutors.

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