Polymetal, Oil and Gas
The RF Ministry of Natural Resources is planning to announce the auction date for the development of one of the largest Russian gold deposits Sukhoi Log in the Irkutsk Region in September, the Mini
The Russian government expected to form a pool of Russian investors soon to participate in the auction for the right to develop the Sukhoi Log gold deposit in the Irkutsk region, the Deputy Prime Minister Aleksandr Khloponin responsible for the use of mineral resources told reporters. He hopes that the auction will take place before the end of this year.
According to Ranking.kz’s data on investments in the mining industry, in 2015, investments in this sector increased by 19%, and in the mining of metals – two times.
"The mining was one of the few sectors, investment in fixed assets of which show growth this year. In January-May this year, the capital investment in the sector increased by 19% (119.4 billion tenges - $642 million), crucially ensured the growth of the republican investments (+8% or 142.5 billion tenges). The weight of the investments in subsoil use increased from 34.6% to 38.1% of the total capital investments in the economy of Kazakhstan in the reporting period,"- analysts write.
The outgoing year in metallurgy will be remembered by everyone, first of all, due to events with Mechel. In 2014, the most indebted company in the industry lost most of its capitalization. It was threatened with bankruptcy, default, was asked to sell assets, restructure its debt and convert it into shares. It was threatened with the dismissing of its general director and principal owner of the company Igor Zyuzin from its management - but there are still no specifics on the future of Mechel.
The first problems of Mechel were found at the end of February, when its shares "went" down for unknown reasons, although some analysts suspected that this was due to its debts. The manipulation with the shares was attributed to speculators, and the Central Bank undertook to investigate. But no one then imagined that everything would go so far.
But the company also had positive aspects in the current year, in particular, the sale of assets, and the fall of the ruble allowed it to significantly reduce its debt.
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