Metallurgy news

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  • 2011-08-03 10:32:34
    EVRAZ is increasing its 2Q 2011 EBITDA guidance
    EVRAZ announces today that it is increasing its EBITDA guidance for 2Q 2011 to US$875-950 million from a previously announced guidance range of US$750-825 million. The increase in guidance reflects higher than expected steel prices, a later than expected increase in the cost of iron ore ...
  • 2011-08-02 10:26:56
    Drilling of new mineshaft has begun at Gubkin mine
    Ceremonies marked the start of drilling and construction of a mineshaft for grassing ferrigenous quartzite from a depth of 250 meters. Over the past 10 years, miners have worked with scientists to find new paths of development. The discovery of colossal reserves at lower depths led to the ...
  • 2011-08-02 00:59:28
    UC Rusal mandates banks to arrange syndicated finance facility
    UC Rusal announced that the сompany has issued a mandate to arrange an up to USD 4.75 billion syndicated finance facility. The facility proceeds will be primarily used to take out the outstanding debt under the International Override Agreement. The mandated banking group includes BNP ...
  • 2011-08-01 11:21:09
    The Kemerovo region administration board approved project on modernization of the OAO Koks coke-chemical plant
    The Kemerovo region Administration Board has approved a project to modernize the OAO Koks coke-chemical plant. Presentely, OAO Koks has at its disposal coke-production capacities consisting of four coking batteries, two of which have been in operation for more than 30 years. Their useful ...
  • 2011-08-01 11:14:50
    The EAF halted as a result of the incident
    The Electric Arc Furnace (“EAF”) halted as a result of the incident is expected to be brought back online in December 2011. The negative impact of the incident on the Long Steel Division’ billets output is estimated at 450,000 t in 2011. The unit started third-party billet ...
  • 2011-07-29 11:00:22
    Severstal Columbus signs $350 Million revolving credit facility
    Severstal Columbus, LLC has signed a $350 million syndicated revolving credit facility. The proceeds of the committed facility will be used for working capital, general corporate purposes and to refinance the existing $150 million revolving credit facility. The $350 million facility has a ...
  • 2011-07-28 10:09:53
    Steel Capital S.A. closes issue of loan participation notes
    On 26 July 2011 Steel Capital S.A. with the registered office at 2, Boulevard Konrad Adenauer, L-1115 Luxembourg, Grand Duchy of Luxembourg has announced the successful closing and issuance of its US $500 mln at 6.25 % loan participation notes due on 26 July 2016 (Regulation S ISIN Code: ...
  • 2011-07-28 10:01:00
    Non-ferrous exposition is popular among Metal-Expo visitors
    Non-ferrous exposition being popular among 37.5% of the total number of visitors ranked second in popularity among visitors of Metal-Expo’2010. According to the research provided by RussCom IT Systems an estimated average investment of 1 visitor representing one company which were ...
  • 2011-07-27 10:22:40
    OMZ-Izhora research and development center successfully completes accreditation for technical competence and independence
    The research and development center (NITS OOO TK OMZ-Izhora) has successfully completed the regular accreditation in the GOST R ISO/IEC 17025-2006 system. The accreditation certificate (#ROSS RU. 0001. 21 ChS 32, valid until July 14, 2016) attests that the research and development center ...
  • 2011-07-27 10:18:17
    MMK announces the results of its RUR 5 bln bonds placement at MICEX
    On July 26, 2011 MMK placed its RUR 5 bln bonds (series БО-07) with the maturity period of 1092 days (3 years). The offer for the issue is not provided. The issue is included in the list “Б” at MICEX. The total value of demand from investors equaled to RUR 7.7 bln which ...
  • 2011-07-26 12:42:38
    Monchegorsk improves its ecological status
    MMC Norilsk Nickel informs of the completion of visit to Murmansk region of the international group of ecologists comprising representatives of Barents Euro-Arctic countries, which are members of Nordic Environment Finance Corporation (NEFCO). The comprehensive analysis of Kola MMC ...
  • 2011-07-26 12:35:40
    TMK announces 2011 second quarter and first half production results and trading update
    OAO TMK, one of the world’s leading oil and gas steel pipe producers, today announces its production results for the period ending June 30, 2011. For the first six months of 2010, TMK shipped a total of 2,166 thousand tonnes of steel pipes to customers representing a 16.2% ...
  • 2011-07-25 11:11:36
    NLMK's VIZ-Stal masters production of premium-quality GO steel
    VIZ-Stal, a subsidiary of NLMK Group, is to expand its GO (transformer) steel production capacities by 40%, up to 240,000 tonnes, as a result of the commissioning of a 75 ktpy reversing cold-rolling mill. This RUR1.4 billion project is the main stage in establishing a process route for ...
  • 2011-07-25 10:40:12
    Norilsk Nickel starts building 300 mln euro skip, latticed shaft
    Russian metals giant Norilsk Nickel has started the construction of the deepest skip and latticed mine shaft in Russia worth almost 300 million euros at the company’s Polar division Skalisty mine, Norilsk Nickel said in a statement Friday. Germany’s Thyssen Schachtbau has won ...
  • 2011-07-25 10:31:22
    Russia’s Renova Group unit to launch baked anode production in 2012
    Russian carbon and graphite producer Energoprom, part of multi-industry holding Renova Group, plans to launch baked anode production at the Chelyabinsk Electrode Plant in 2012, Energoprom said in a statement. Investments in the project are expected to amount to more than U.S. $20 ...
  • 2011-07-22 11:47:21
    Polema has won first place in category of “Industrial Enterprises” in “Zolotaya Opora” competition
    Polema has taken first place in the category of “Industrial Enterprises” in the “Zolotaya Opora” competition among the finest companies consuming electric energy in Tula and Tula Oblast for 2010. The competition was organized in 2005 at the initiative of Russia's OAO ...
  • 2011-07-22 11:42:36
    Norilsk Nickel launches mine in Australia
    MMC Norilsk Nickel reports that in accordance with production plan for the Group’s international production assets development in Australia, the Maggie Hays mine was launched at Lake Johnston operations. The monthly production capacity of the mine is 100 kt of ore at 1.3% average ...
  • 2011-07-21 10:26:24
    Novolipetsk reduces environmental footprint
    NLMK has upgraded its aspiration system in the refractory shop at Lipetsk to improve the efficiency of its gas cleaning equipment to the level of best available technologies. This project, worth RUR57 million, is part of the Company’s plan to minimize the impact of steel production on ...
  • 2011-07-21 10:01:00
    METALLOINVEST issued debut five-year $750 mln Eurobonds
    METALLOINVEST, one of the world's largest producers of iron ore, today announced the successful issue of 5-year $750 mln Eurobonds with a coupon rate of 6.5%. The maturity date is July 21, 2016. The final closing of the transaction will be completed by the end of next week on July 21, 2011. ...
  • 2011-07-21 10:01:00
    VTB capital acquired 4.35% Stake in En+ Group
    VTB Capital acquired a 4.35% stake in En+ Group from Basic Element for USD$500 mln. The acquisition of the stake in En+ Group is a strategic investment for VTB Capital. Yuri Soloviev, First Deputy President - Chairman of the Management Board of VTB Bank, Chairman of VTB Capital holding ...
  • 2011-07-20 11:36:04
    GOSA FOM, Serbia visited OAO Koks
    OAO Koks was recentely visited by a group of specialists from GOSA FOM, a Serbian mechanical-engineering company. The goal of the visit to the Kemerovo coking plant was to inspect the condition of the GOSA FOM coking machines that are installed in coking battery No. 3, and to discuss ...
  • 2011-07-20 11:29:58
    EVRAZ receives IR Magazine awards
    EVRAZ announces that Giacomo Baizini, EVRAZ’s CFO, was announced as the winner of “Best investor relations by a CFO, large cap” in a survey carried out by IR Magazine Russia & CIS. Alexander Frolov, EVRAZ’s CEO, was ranked second in the category “Best ...
  • 2011-07-20 11:26:10
    MMK launches Mill 2000 - first stage of new cold rolling complex
    Magnitogorsk Iron and Steel Works (MMK) launched its Mill 2000 – the first stage of a new cold rolling complex - during Russian Prime Minister Vladimir Putin’s visit to MMK today. Mill 2000, with 2 mtpa capacity of finished products, will primarily produce high-quality cold-rolled ...
  • 2011-07-19 10:31:02
    Over 10,000 people benefit from RUSAL-ALSCON water project
    Ikot Abasi, Nigeria, 14 July 2011 – RUSAL-ALSCON, the Nigerian subsidiary of United Company RUSAL, the world’s largest aluminium producer, is pleased to announce the completion of seven water projects, to complement the existing three projects that provide potable water for over ...
  • 2011-07-19 10:24:52
    TMK runs pipe with premium connections at Yurkharovskoye Field
    TMK, one of the world’s leading oil and gas steel pipe producers, has run casing with TMK PF Premium Connections in both the onshore and offshore sections of a gas well at Novatek’s Yurkharovskoye Field. This well consists of both a vertical section, which is located in the ...
  • 2011-07-19 10:01:00
    MMK completes construction of MMK-ATAKAS Metalworks
    Commissioning of continuous hot-dip galvanizing unit at MMK-Atakas Istanbul site marks final stage of project. Today Magnitogorsk Iron and Steel Works (MMK) announced the launch of the MMK-Atakas continuous hot-dip galvanizing unit in Istanbul. This marks completion of construction of ...
  • 2011-07-18 10:04:00
    Buying attitude at Metal-Expo turned out incredibly high
      Results of the post-show buying attitude monitoring which has been held by RussCom IT Systems during a month after Metal-Expo’2010 finished show that 94,3% of 574 respondents ( Metal-Expo’2010 visitors) plan to visit the show in 2011 pointing out its high efficiency. ...
  • 2011-07-18 10:02:00
    Severstal North America receives conditional commitment for $730 M loan from U.S. Department of Energy
    Severstal North America (“Severstal”), a subsidiary of OAO Severstal, today announced that it has received a conditional commitment for a $730 million loan from the U.S. Department of Energy. The proceeds from the loan will be used to design, manufacture, and construct ...
  • 2011-07-15 10:10:57
    MMK announces results of its RUR 5 bln bonds placement at MICEX
    On July 14, 2011 MMK placed its RUR 5 bln bonds (series BO-06) with the maturity period of 1092 days (3 years). The offer for the issue is not provided. The issue is included in the list “B” at MICEX. The total value of demand from investors equaled to RUR 14.4 bln which ...
  • 2011-07-15 10:01:00
    Biggest world economies to meet in Moscow
    This year Metal-Expo (November 15-18, 2011, The All-Russia Exhibition Center, Moscow) will grow 20% as compared to the last year. The national expositions at Metal-Expo’2011 will also grow in space and number of exhibitors. Leading world economies will show their potentials and ...
  • 2011-07-14 11:06:57
    TMK announces 2011 second quarter and first half production Results and trading update
    The following contains forward looking statements concerning future events. These forward looking statements are based on current information and assumptions of TMK management concerning known and unknown risks and uncertainties. OAO TMK (“TMK” or “the ...
  • 2011-07-14 10:00:00
    Producers of Steel Products for Construction Sector will Exhibit in Moscow in November
    The exposition of MetaStroyForum’2011 Exhibition for Steel Products and Structures for Construction is in the middle of arranging. The exhibition will be held jointly with Metal-Expo’2011 (November 15-18, 2011 at the All-Russia Exhibition Center Fairgrounds). Some 200 of 600 ...
  • 2011-07-13 11:36:33
    NLMK reports transformer failure
    NLMK reports that a transformer failure has occurred at its Urals-based long products plant NSMMZ, resulting in the stoppage of one of the two Electric Arc Furnaces (EAF). No injuries occurred as a result of the incident. While the management is assessing the causes of the failure of the ...
  • 2011-07-13 10:44:50
    TMK premium connections receive another ISO 13679 CAL IV certification
    TMK’s American division – TMK IPSCO successfully completed qualification tests of Premium threaded connections ULTRA-QX in accordance with ISO 13679 CAL IV standard. Premium connections ULTRA-QX exhibit high tensile and compression strength, high ability to bend, and ...
  • 2011-07-12 10:13:29
    Izhorskiye Zavody finalizes fabrication of reactor vessel for Leningrad NPP-2
    Izhorskiye Zavody, part of OMZ Group, has finalized the fabrication of the first VVER-1200 reactor vessel for Leningrad NPP-2. One of the final stages of the manufacturing successfully completed control assembly of the reactor vessel with in-vessel devices and head block shield. The ...
  • 2011-07-12 10:10:14
    Putu iron ore resource increased to 3.2 billion tonnes
    OAO Severstal, one of the world’s leading vertically integrated steel and mining companies, today announces that an independent mineral resource report has estimated a 3.2 billion tonnes deposit at its Putu iron ore project in Liberia. Severstal is the majority stakeholder in the ...
  • 2011-07-11 10:23:08
    OMZ-Foundry production successfully passes re-certification audit to meet all ISO 9001-2008 requirements
    OMZ-Foundry production, a part of OMZ Group, has successfully passed the re-certification audit to meet ISO 9001-2008 conformity certificate for its quality management system. Certification audit was conducted by Det Norske Veritas (DNV) – the independent classification and ...
  • 2011-07-11 00:24:46
    Oleg Deripaska appointed as President of En+ Group
    En+ Group announces the appointment of Oleg Deripaska as President of En+ Group, a decision made by the Board of Directors of En+ Group. (Previously, Oleg Deripaska held the position of the Chairman of the Board of Directors of En+ Group). In his new role Oleg Deripaska is in charge of ...
  • 2011-07-08 10:37:49
    RUSAL signs agreement with Kemerovo region and Environmental regional center to create new recycling production
    Rusal the world’s largest aluminium producer, announces the signing of Cooperation Agreement with the Kemerovo Region administration and Environmental Regional Center (ERC) on recycling waste to innovative products for ferrous metallurgy. The first stage provides for recycling by ...
  • 2011-07-08 10:29:24
    Evraz priced 20 billion rouble bond issue
    EVRAZ has priced a 20 billion 5-year rouble bond (approx. US$710 million) at a coupon rate of 8.40% per annum. The bonds are issued by EVRAZ’s subsidiary, OOO EvrazHolding Finance, and guaranteed by EVRAZ Group. The closing and settlement is expected to be completed on 7 June 2011 ...
  • 2011-07-07 11:10:50
    Metal-Expo'2011 exposition has been almost fully arranged
    Ferrous and non-ferrous expositions at Metal-Expo’2011 (November 15-18, The All-Russia Exhibition Center, Moscow) have been arranged 93% by now. This year ferrous and non-ferrous expositions will be arranged in Hall 1, Pavilion 75 while the exposition of machinery and equipment for ...
  • 2011-07-06 10:24:55
    EVRAZ incentivised conversion of US$650 million 2014 bonds
    EVRAZ has successfully incentivised the conversion of US$647,800,000 in principal amount (or 99.7% of the total outstanding amount) of convertible bonds originally due in 2014 and bearing annual coupon of 7.25%. The total cash incentive payment to facilitate the conversion will be ...
  • 2011-07-06 10:22:10
    Norilsk Nickel Director General meets South African President
    Yesterday, Vladimir Strzhalkovsky, the General Director and Chairman of the Management Board of MMC Norilsk Nickel (the Company) met in Sochi with the President of the Republic of South Africa Jakob Zuma in RSA. The parties discussed further development of the Company’s projects in ...
  • 2011-07-05 10:52:32
    NLMK completes purchase of 50% interest in Steel Invest and Finance
    NLMK, one of the world’s leading steel companies, is pleased to announce the completion of the previously announced deal to purchase the remaining 50% interest in Steel Invest and Finance (“SIF”) from Duferco Group (“Duferco”). The transaction will result in SIF ...
  • 2011-07-05 10:49:46
    Nordgold receives mining license for Bissa Project, Burkina Faso
    Nordgold, an established pure-play gold producer focussed on emerging markets and a wholly-owned subsidiary of OAO Severstal, announces that Nordgold’s indirect subsidiary in Burkina Faso, Bissa Gold S.A. (“Bissa Gold”).has been granted a mining license for the Bissa gold ...
  • 2011-07-04 00:38:29
    Rusal makes debt repayments totalling USD119 million
    UC Rusal announced making further debt repayments in the total amount of USD119 million to its international and Russian lenders, including Onexim group, under the International Override Agreement (IOA). The debt repayment was made on 29 June 2011. Since the beginning of 2011, Rusal has ...
  • 2011-07-04 00:33:24
    Mechel Minig to increase charter capital by way of public offering
    Mechel announceds the decisions made by Mechel Mining’s Board of Directors. On the meeting of Mechel Mining’s Board of Directors held on June 30, 2011, the Board of Directors decided to increase Mechel Mining’s charter capital by way of public offering of 3.644 billion ...
  • 2011-07-01 10:40:22
    NLMK Quality Management System complies with international standards
    NLMK has successfully passed another audit conducted by TÜV SÜD, the independent German certifying agency, for compliance with the requirements of international standard ISO/TS 16949:2009, Quality management systems – Particular requirements for the application of ISO ...
  • 2011-07-01 10:38:32
    TMK holds annual general meeting of shareholders
    TMK announces that the Annual General Meeting of Shareholders was held in Moscow on June 28, 2011. Shareholders approved the annual report and financial statements for the 2010 financial year, including the Company’s profit and loss statement for 2010. Shareholders also elected the ...
  • 2011-06-28 11:25:17
    Freight One to deliver first batch of Nippon Steel rails to Russian Railways Network
    Freight One will haul the first batch this year of Japanese rails made by Nippon Steel Corporation to strengthen the track infrastructure of segments of the Russian Railways network. The rails are being loaded on Freight One rolling stock at ports of the Northeastern and Far Eastern regions. ...