OAO Severstal, one of the world’s leading steel and mining companies, with key assets in Russia, the US and Europe has posted today results for 12 months ended 31 December 2009. Revenue decreased to $13,054 million from $22,393 (FY2008)million because of market conditions, particularly in the first half of 2009, which led to lower sales volumes and average prices. EBITDA (Earnings before interest, tax, depreciation and amortization) decreased to $844 million from $5.368 ...

Novolipetsk Steel (LSE: NLMK) Board of Directors took a decision to launch the ruble corporate bond program series 01-06 with a maturity of 10 years. The total value of the program is RUB 50 bn. The Board also approved the decision to issue the bonds and the Prospectus of 01-06 series bond emission, reported the press-service. This new instrument will help NLMK to attract long-term capital to finance its Technical Upgrade Program, as well as other corporate purposes. In late 2009 ...

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UGMK (Ural Mining and Metallurgical Company) will invest 1 bn rub in development of Shemur copper ore deposit. The first deliveries of ore to combine Svyatogor (a part of UGMK) are planned for summer 2010. Andrey Kozitsyn, General Director UGMK told: “World markets have revived, the volumes of sales of finished product have been restored. All these allow the company investing funds in further development of their capacities”. Development of Shemur deposit (a part of group ...