Metallurgy news

NLMK Group and Fort Ross Ventures sign cooperation agreement

NLMK Group and venture capital firm Fort Ross Ventures, a partner of Sberbank, have penned an agreement to cooperate to support innovations. Under the agreement, Fort Ross Ventures will provide NLMK Group with information on projects related to the Internet of Things, artificial intelligence technologies, cyber-security, cloud technologies, etc., that will enable the company to improve production and business processes. In turn, NLMK Group plans to test and implement the most successful innovative ...
21 June 2019., 14:43   comment

Metalloinvest develops rolled steel production capabilities at OEMK

Metalloinvest has commissioned a new reduction and calibration section for Rolling Mill 350’s mid-size production line at Rolling Unit #2 at OEMK (part of the Metalloinvest). Investment in the project totalled more than 600 mn roubles. The modernisation will enable the Company to increase production of high-quality rolled steel by 67,000 tonnes per year. The new reduction and calibration section will ensure that every steel bar is the correct size, within 0.15mm diameters of precision. The reduction ...
21 June 2019., 14:41   comment

TMK and NOVATEK signed a Strategic Partnership and Cooperation Agreement

PJSC TMK (TMK) and PJSC NOVATEK (NOVATEK) signed a Strategic Partnership and Cooperation Agreement at the 23rd St. Petersburg International Economic Forum. Dmitry Pumpyanskiy, Chairman of TMK’s Board of Directors, and Leonid Mikhelson, Chairman of NOVATEK’s Management Board signed the document. The agreement outlines key policies and approaches for supplying TMK’s premium casing and tubing pipe to NOVATEK. The agreement introduces formula-based pricing to promote efficient production and ensure ...
21 June 2019., 14:38   comment

Severstal to develop its own digital businesses

PAO Severstal, one of the world's leading vertically integrated steel and mining companies, has established a new unit that will be focused on the development of digital businesses. The team will be headed by Sergey Khabarov, previously investment director at Genome Ventures, an innovative human capital development business. The new unit will be part of Severstal’s Business Development and Corporate Venture Projects department, which is headed by Andrey Laptev, and will focus on developing platform ...
21 June 2019., 14:36   comment

MMK placed US$500 mm Eurobonds

Magnitogorsk Iron and Steel Works (“MMK”), one of the largest steel suppliers in Russia rated Baa2 (Moody’s) / BBB (Fitch) / BBB- (S&P), returned to the international market after more than 15 years with a successful placement of 5-year US$500mm Eurobonds with an annual coupon rate of 4.375% payable semi-annually. The proceeds of the issue will be used for general corporate purposes. The issue was oversubscribed by over 4.5 times with the total order book exceeding US$2.2 bn at the peak. The ...
21 June 2019., 14:34   comment

RUSAL to plant 500 thousand trees in the Irkutsk region

RUSAL (486 Hong Kong, RUAL Moscow Exchange), one of the largest aluminium producers in the world, will plant 500 thousand trees in the Irkutsk region, as part of the Company’s climate strategy on greenhouse gas absorption. During the St. Petersburg Economic Forum, RUSAL, the Federal Forestry Agency and the Government of the Irkutsk region signed an agreement to implement voluntary eco-friendly projects, which include planting at least 500 thousand trees on an area of 125 hectares in the Kirovskoye ...
06 July 2019., 14:54   comment

NLMK Group and Lipetsk Region sign memorandum to build new waste energy recovery power plant

NLMK’s carbon oxide (CO) emissions set to reduce by 3,000 tonnes per year, GHG (СО2) emissions set to reduce by 650,000 tonnes per year NLMK Group, a global steel company, and the Administration of the Lipetsk Region have signed a memorandum of intent to build a new recovery power plant at NLMK Lipetsk, running on by-product gases from hot-end operations. The project will enable a reduction in carbon oxide (CO) emissions by 3,000 tonnes per year and a decrease in greenhouse gas emissions (CO2) ...
06 July 2019., 14:46   comment

Terminal for transhipment Metalloinvest pellets and HBI to be built at Ust-Luga port

Metalloinvest, a leading global producer and supplier of HBI and iron ore products, and a regional producer of high-quality steel, has signed a binding agreement with the company Ultramar for the construction of a specialised terminal for the transfer of iron ore pellets and HBI at the Ust-Luga port, located in the Leningrad region. The signing took place at the Saint Petersburg International Economic Forum in the presence of Andrey Varichev, CEO of Management Company Metalloinvest. The document ...
06 July 2019., 14:45   comment

Mechel, BELAZ-24 Cinch Deal for Dump Truck Supply

Mechel PAO (MOEX: MTLR; NYSE: MTL), a leading Russian mining and metals company, reports signing an agreement with CTP BELAZ-24 OOO for 15 dump trucks with a total value of approximately two billion rubles. The deal was signed on the sidelines of the international specialized mining technologies exposition “Russian Coal and Mining” held in Novokuznetsk. The new trucks with capacity ranging from 130 to 220 tonnes will come to Mechel Group’s facilities in Kemerovo and Irkutsk Regions, with 11 ...
06 July 2019., 14:42   comment

Severstal unveils new client-centric corporate structure

PAO Severstal announces that the Company’s organizational structure has been reconfigured to support its updated strategy and ensure it consistently delivers an excellent customer experience. Based on agile business principles, all of the Company’s production and “selling” divisions now fall under two streams - upstream and downstream, for which common business goals are set. Upstream includes all of Severstal’s raw materials enterprises (Vorkutaugol, Karelsky Okatysh, Yakovlevsky GOK, Olkon), ...
06 July 2019., 14:40   comment

MMK partners with Deloitte to develop new digitalisation strategy

Magnitogorsk Iron and Steel Works (MMK) has partnered with Deloitte CIS to create a digitalisation strategy for the Company. The agreement was signed during the St. Petersburg International Economic Forum. MMK has decided to update its digital portfolio as part of the Company's overall development strategy up to 2025. To do this, Deloitte CIS will prepare a roadmap for the digitalisation of the Company in the medium term. It will include the most effective projects to help MMK achieve strategic ...
06 July 2019., 14:39   comment

RUSAL Announces 1st Quarter Operating Results

Moscow, 30 April 2019 – RUSAL, a leading global aluminium producer, announces its operating results for the first quarter 2019 (“1Q19”). Key highlights Aluminium Aluminium production in 1Q19 totaled 928 thousand tonnes (-1.6% quarter-on-quarter (“QoQ”)), with Siberian smelters representing 93% of total aluminium output; In 1Q19, aluminium sales amounted to 896 thousand tonnes. In 1Q19 sales of value added products (VAP3) decreased to 259 thousand tonnes (-22.2% QoQ). This period was significantly ...
05 August 2019., 12:08   comment

Stoilensky produces its 15-millionth tonne of pellets

Stoilensky, part of NLMK Group, has produced its fifteen-millionth tonne of pellets since the launch of its pelletizing plant. Launched in November 2016, the pelletizing plant has a design capacity of 6 million tonnes of pellets per year. In 2018, the plant reached the production capacity of 6.7 million tonnes of pellets (+12% yoy). In March Stoilensky signed a development contract with the Finnish company Outotec to increase the pelletizing plant's installed capacity by a third - from 6 to ...
05 August 2019., 12:05   comment

MMK develops cooperation with consumers in Siberia

Deliveries of MMK's rolled steel to pipe companies in the Siberian Federal region have doubled since the beginning of the year. The region accounts for about 10% of the plant’s sales of the relevant products. The Company plans to further expand its presence in the domestic market. Deputy General Director of Sales at PJSC MMK Sergei Ushakov spoke about this at a conference for consumers of MMK's steel products in the Siberian Federal region. The event was held in Novosibirsk on the premises of ...
05 August 2019., 12:03   comment

Metalloinvest presents updated Development Strategy

Metalloinvest, a leading global producer and supplier of HBI and iron ore products, and one of the regional producers of high-quality steel, has updated its Development Strategy. The Strategy aims to allow the Company to maintain the leading position in the metals and mining industry and continuously enhance the Company’s efficiency. In 2015, Metalloinvest announced Strategy 2023, which aimed to strengthen the Company’s position as the global leader in hot briquetted iron (HBI) production; implement ...
05 August 2019., 12:00   comment

Severstal announces sale of Mini-Mill Balakovo

PAO Severstal (the “Company”) one of the world’s leading vertically integrated steel and steel-related mining companies, announces that it has entered into a definitive agreement with Abinsk Electric Steel Works LTD for the sale of Mini-Mill Balakovo. The consideration of the transaction will be $215 million. The transaction is expected to complete in first half of 2019 following the receipt of approvals and other standard conditions. Alexander Shevelev, CEO of Severstal, commented: “Following ...
05 August 2019., 11:58   comment

Mechel’s hardware production upgrade project wins state support

Mechel reports that the Supervisory Board of Russia’s Industry and Trade Ministry’s Industrial Development Fund approved a low-interest loan to Mechel Group’s Beloretsk Metallurgical Plant for upgrading its wire and rope production facilities. The project’s cost will total 1.5 billion rubles, with the Industrial Development Fund footing the bill for 50% of this sum, or 750 million rubles. The loan’s maturity is five years. The project includes a large-scale technical upgrade of Beloretsk Metallurgical ...
19 April 2019., 15:24   comment

MMK expands its range of metal products with high added value

PJSC Magnitogorsk Iron and Steel Works (MMK) shipped the first batch of rolled products with new consumer properties. Improved quality characteristics of hot-rolled sheet metal are obtained through the use of a unique technology which cleans scale from the surface of the sheet. The emergence of new steel products with unique quality properties was made possible by the implementation of a project by Kama-Trade Tatarstan to construct a Brandsteel Service Metalworking Centre (SMC) which has the ...
19 April 2019., 15:20   comment

Q1 2019 NLMK Group Trading update

NLMK Group (LSE: NLMK, MOEX: NLMK), a vertically integrated steelmaker, has published today its preliminary Q1 2019 operating results. Q1 2019 highlights: Steel output decreased by 4% qoq to 4.2 m t due to the overhauls at the Russian sites and seasonal factors. A 3% yoy steel output reduction is also due to the overhauls in Q1 2019. Steel capacity utilization remained high at 96% (-2 p.p. qoq). Sales remained almost flat qoq totalling 4.6 m t (-1% qoq) supported by the sales of inventories ...
19 April 2019., 15:17   comment

Severstal reports Q1 2019 operational results

PAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q1 2019. Q1 2019 GROUP HIGHLIGHTS Hot metal output increased 6% q/q in Q1 2019 to 2.36 mln tonnes (Q4 2018: 2.23 mln tonnes) following short-term maintenance works at BF#2 in the previous quarter. Crude steel production grew to 3.04 mln tonnes (Q4 2018: 2.94 mln tonnes) reflecting an increase in pig iron production ...
19 April 2019., 15:16   comment