Russia, Mikhailovsky GOK
One of the leaders of the Kursk industry – the Mikhailovsky GOK- has started the shipment of flotation pellets to Dunaferr (Hungary).
In H2 2016 Metalloinvest will increase the shipment of iron ore pellets to NLMK by 900 thousand tons. The shipment to NLMK is held by the Lebedinsy and Mikhailovsky GOKs.
The volume of the minerals production in the Kursk region grew by 7.5% in January-June 2016. It was reported by the press centre of the Kursk region’s administration.
In H1 2016 the Poltava GOK (in the structure of Ferrexpo) exported 5.743 mln tons of iron ore pellets to Europe, Middle East, Japan, Korea and China.
Metalloinvest and Novolipetsk Iron-and-Steel works announce on an extension of the current contract for supply of pellet until December 31, 2016.
Under the reached agreement, the total volume of supply this year will make up more than 3 million tons of pellet.
The Ministry of Natural Resources of Russia has coordinated postponement of the launch of the Udokan copper deposit development, said the head of the Ministry Sergei Donskoy.
"The terms have long been actualized. We asked to extend the deadline at the beginning of the year. Currently all decisions on the Udokan deposit are made", - the Minister said.
Metalloinvest has launched a complex of roasting machine №3 at Mikhailovsky GOK.
This complex is a unique project in scale and significance, the investment in which made up over 16 billion rubles. The project helps to increase the overall capacity of Metalloinvest on iron ore pellets production by 5 million tons to 27.6 million tons per year and to create about 600 additional jobs in the region.
The development of Udokan may also be conducted at the expense of the National Welfare Fund, MedvedevEdited by Rhod Mackenzie / 2015-09-25 09:02:21
The development of the Udokan copper deposit in the Trans-Baikal can be also conducted at the expense of the National Welfare Fund, Russian Prime Minister D.Medvedev said on Thursday.
“We will also consider the first project that can be implemented using the funds of the National Welfare Fund.
The fall in prices on the global market of iron ore has decreased the financial performance of the largest Russian producer Metalloinvest. In the first six months of this year, the company reduced its revenue by 31% to $2.4 billion, and the net profit - by 5.8%, to $517 million. Analysts don’t expect any significant improvement in the situation on the ore market: in the major producing countries, like Russia, any increase in theexport of raw materials against the background of the devaluation of the national currencies, and the key Chinese demand could drop significantly because of the devaluation of yuan.
Metalloinvest has published its financial results under IAS in the first six months of the current year, reduced almost all indicators, except EBITDA margin. The revenues decreased by 31% to $2.4 billion, EBITDA fell by 20.2% to $872 million, and the net profit made up $517 million, which is by 5.8% less than in the previous year. At the same time, the EBITDA margin of Metalloinvest increased by 4.9 percentage points to 35.8%, while the capital expenditures decreased by a third to $198 million. Also, the company, as compared with the end of the year, significantly reduced its net debt (by 12.2% to $3.67 billion) and the improved the ratio of the debt to EBITDA - from 2.13 to 2.11.
According to GC “Ukrpromvneshexpertiza”, the Poltava GOK (Ferrexpo Poltava Mining, FPM, in the structure of Ferrexpo) stays the leader on the production and export of iron ore pellets among the CIS enterprises on the results of Q1.
The production of iron ore pellets by the CIS enterprises in Q1 2015 made up: Poltava GOK (Ukraine) – 2,885 thousand tons, Kostomukshsky GOK (Russia) – 2,688 thousand tons, Mikhailovsky GOK (Russia) – 2,538 thousand tons, Severny GOk (Ukraine) – 2,027 thousand tons, Kachkanarsky GOK (Russia) – 1,631 thousand tons.
In Q1 the Poltava GOK exported 2,842 thousand tons of iron ore pellets to Europe and Middle East, Japan and China. The Severny GOK exported 1,504 thousand tons, Kostomukshsky GOK – 871 thousand tons, Lebedinsky GOK -671 thousand tons, Central GOK – 603 thousand tons.