Russia Metals and Mining

Sibinvestgroup buys a coal deposit in the Novosibirsk Region

The Siberian Investment Group (Sibinvestgroup) bought a coal deposit with the potential reserves of 23 million tons in the Toguchinsky district of the Novosibirsk Region.
Sibnedra (Siberian Agency on Subsoil Use) conducted the auction for geological exploration, extraction and coal mining at the Kurundussky sector at the territory of the Toguchincky district. Two companies applied for the auction – Transpromresource CJSC (Moscow) and Sibinvestgroup LLC (Novosibirsk).

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Sayanogorsk aluminium plant decreases aluminium production, but increases output of alloys

The Sayanogorsk aluminium plant (SAZ, a part of UC Rusal) has summed up its industrial results for the first nine months of 2013. In the first three quarters, the total aluminium production of SAZ made up 598.7 thousand tons that is less than in the previous year; at the same time the share of high value-added products grew that allows the plant to increase its profitability in conditions of very low world prices of primary aluminium.

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Rosgeologia discovers 75 tons of prognostic resources at the Malinovsky project

~~The geologists of Primorgeologia (a part of Rosgeologia) have completed works at the Malinovsky project in the Primorsk region: two perspectives area were allocated for further works – the Solnechny and Dorozhny ore clusters with prognostic gold resources in the amount of about 75 tons, Rosgeologia reports.
Besdies, seven more perspective areas within the Malinovsky project were recommended to be studied – according to specialists, at least small and medium deposits of gold, silver, titanium, copper, nickel, tin and tungsten can be discovered here.

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In January-September of 2013, Serov ferroalloys plant decreased its profit two times

In January-September of 2013, Serov ferroalloys plant (the Sverdlovsk region, a part of ENRC) decreased its profit under RAS two times as compared with the same period of 2012 to 505.285 million rubles, the enterprise reports.

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In the first nine months, the Uralelektromed’s profit decreased 10 times

In the first quarter of the current year, the enterprise on production of copper cathodes and copper products,Uralelektromed made the net loss in the amount of 80.2 million rubles.

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In Q3, Chelyabinsk electricrometallurgic plant made a profit, but its loss in the first nine months exceeds 980 million rubles

In the third quarter of 2013, the largest Russian ferroalloys producer Chelyabinsk electricrometallurgic plant (ChEMK) made the net profit in the amount of 42.3 million rubles after the net loss in the previous quarter, which made up 565.8 million rubles. In the first quarter, the loss exceeded 458.9 million rubles.

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Rimera to provide equipment for pilot tests at the wells of Lukoil

~~10 sets of oil-extraction equipment made by Alnas plant (Almetievsk asset of Rimera) will be delivered to the wells of Lukoil-West Siberia for the pilot tests by the end of the year.
The list of the necessary equipment includes electric-centrifugal pumps with axial bearings, submersible motors and hydroprotection with submersible diaphragm bandages. The hydroprotection was produced against the special order of Lukoil to meet the technical requirements and operating conditions.
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Alexei Mordashov tries to forge “steel OPEC” to balance demand and supply

Severstal’s owner Alexei Mordashov has offered the world leadingsteel companies to limit their production to meet the crisis of overproduction. The scheme of production volumes control exists in the oil industry within the Organization of Petroleum Exporting Countries (OPEC); a similar agreement existed in the potash industry until recently. But, according to analysts, Chinese companies will sabotage “the steel OPEC”.
Severstal intends to offer to the world's large steel companies an agreement on the limitation of steel smelting volumes and stoppage of surplus production, the company’s General Director and the main owner Alexei Mordashov stated to the Financial Times yesterday. He cited as an example measures, assumed by the largest aluminium producers – in the EU, USA, Russia, Canada, Australia and Norway – in 1994. Then they agreed to stop surplus capacities and the world aluminium production fell by 6%. Yesterday, within the Investor Day, Mordashov specified that negotiations with Heads of steel companies should be started as soon as possible. According to him, the World Steel Association, where Alexei Mordashov was chairman in 2012-2013, or the Organization for Economic Cooperation and Development can be the venue for such agreement.

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Severstal to reduce its capital investments by 30%

The Balakovo plant will become the last investment project of the company. Severstal is not going to construct any new facilities.
As reported by the General Director of the company, Aleksei Mordashov, in 2014-2017 annual capital investments won’t exceed $1 billion. At the same time, about $400 million will be invested into development – small projects at the amount of $5-10 million USD. “We invest into development very carefully and only in the spheres where we are confident about the target return on investment”, CFO of the company, Aleksei Kulichenko said.

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Severstal’s Head offers world steel makers to come to agreement on production decline

The General Director and main owner of Severstal Alexei Mordashov in interview to the Financial Times has called Chiefs of the largest world steel-smelting companies to develop and conclude a global agreement on limitation of steel smelting and stoppage of excess capacity.
“We will be doomed to relegation battle without solving problem of ratio between demand and supply, without optimization of the sector, - Mordashev said. – The surplus of capacities is a complicated problem for our industry in global scale, a deep crisis, like the one in the USA 10-15 years ago, threatens us without its solving – then every fourth steel-smelting enterprise became bankrupt”.

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