News. Russian non-ferrous metallurgy news

Ormet plans to launch underground mine

Ormet (part of Russian Copper Company) continues the construction of an underground mine at the Dzhusinskoye deposit, Chelyabinsk region. Currently, the surface obejectes of the mine is being assembled, ore is mined at the prepared site as part of a pilot project for approbation of development systems, which should guarantee the safety of mining operations. Ormet develops Dzhusinskoye deposit since 2004 with an open-pit mine. New mine will enable to develop its resources with the underground ...
17 April 2017., 13:00  

MCSP renewed plant equipment

Mednogorsky copper sulfate plant (MCSP, enterprise of UMMC’s metallurgical division) purchased a new front end loader for about 6 mln. rubles. The loader will be used at the area of briquetting and feed preparation for copper smelter to supplement a similar loader which is said to have been efficiently used. - Our plant equipment includes many items which are used at the production site of the company and are involved in the process of blister copper production, - comments Head of Tansport Department ...
14 April 2017., 06:00  

Rusal acquires share of Skad

Rusal acquires share of the foundry and mechanical production facility Skad, which is a producer of aluminium alloy car wheels, located in Krasnoyarsk region. Under the terms of the transaction, Rusal will own a stake in the authorised capital of Skad and its founder, Idris Zakriev, will remain as Chief Executive Officer of the production facility. Skad produces alloy wheels for the Russian and overseas auto markets and, due to the growing consumer demand, Skad’s management decided to raise ...
13 April 2017., 16:05   comment

Uralelektromed to launch new cathode stripping machine

Specialists of Uralelektromed (part of UMMC) visited one of Outotec branches, located in Kil (Sweden), where they witnessed tests of the new cathode stripping machine. It will be installed in the second stage of Tankhouse being under construction. According to Mark Shuklin, deputy head of technical department of Uralelektromed, the new machine will be similar in its functionality to that of the first stage. It will wash, strip and sample cathodes for their chemical composition to be determined, ...
13 April 2017., 06:00  

Chelyabinsk Zinc Plant put into operation an anode straightening machine

Under the ambitious process reconstruction program being implemented at Chelyabinsk Zinc Plant (part of UMMC), the anode straightening machine has been put into operation at the zinc cellhouse. The cost of Canadian equipment amounted to as much as 1.2 mln euro. The major product of the Chelyabinsk Zinc Plant is Special High Grade zinc with 99. 995% zinc purity, produced by electrolysis. Electrolysis is a process by which electric current is passed through a zinc-bearing electrolyte in an electrolytic ...
04 December 2017., 06:00  

Norilsk Nickel placed $1 bullion 6-year Eurobond offering

Norilsk Nickel closed of its $1 billion 6-year Eurobond offering with an annual coupon rate of 4.10%. The proceeds from the issue will be used for general corporate purposes and capital investments. The offering has attracted solid investors’interest both domestically and internationallyand the book was well oversubscribed. As a result, the offering has been successfully executed inside the Company’s outstanding Eurobonds’ curveand allocated between the following regions: Russia (37%), Asia ...
04 November 2017., 06:00  

Rusal and Runaya Metsource will establish joint venture

Rusal and Runaya Metsource, a company promoted by principal shareholders of Vedanta, have signed an agreement to create a joint venture on an equal basis in India (JV). The JV will set up a world class facility which specializes in the production of high technology aluminium pastes and powders with a wide range of high end applications, including innovative industries such as additive technologies and solar energy. India has ambitious growth plans in these sectors and Rusal shall bring in its ...
04 May 2017., 13:00  

Nornickel opened upgraded Murmansk transshipment terminal

Nornickel has completed one of the largest investment projects to date to develop transportation infrastructure in the Arctic. The official opening of the Murmansk transshipment terminal. The new logistics hub can annually handle 1.5 million tonnes of containerized cargo. Nornickel finished the upgrading of the second berth of its Murmansk Transport Division. The second project phase will enable the terminal to work at full capacity and almost double its cargo traffic, from 780,000 tonnes to ...
04 March 2017., 17:00  

Rusal is preparing to issue Panda bonds

Rusal has announced that it has registered its prospectus for a Renminbi denominated bonds issue (Panda bonds), totaling up to 10 billion yuan ($1.5 billion) with a tenor of 7 years. Rusal becomes the first overseas company with global operations outside of China that is seeking to offer bonds to investors within the Chinese debt market through this placement on the Shanghai Stock Exchange. Rusal can take the bond placement decision in the next 12 months following the registration of the prospectus. ...
02 August 2017., 14:00  

Rusal completes debut Eurobond offering

Rusal has completed the debut offering of Eurobond with the following key terms: principal amount of $600 million, tenor 5 years, coupon rate 5.125% per annum. The bond proceeds will be used to refinance some of Rusal’s existing pre-export finance facility and improve the Company debt maturity profile. «The Company received very strong demand for the sale of its five-year bonds, enabling us to raise more than we initially planned. Despite tightening 25bps from initial guidance, the final book ...
02 February 2017., 19:00  

In 2016 Norilsk Nickel produced 236,000 tonnes of nickel

Norilsk Nickel has announce preliminary consolidated production results for the fourth quarter and full year of 2016 as well as its production outlook for full year 2017. 4Q16 consolidated nickel production amounted to 58,000 tonnes increasing 5% quarter-on-quarter (q-o-q). Nickel output from the Company’s own Russian feed reached 53,000 tonnes, up 16% q-o-q. The increase was mainly attributed to scheduled ramp up of the upgraded Talnakh Concentrator and higher volumes of Nkomati concentrate ...
02 January 2017., 06:00  

Nord Gold continues to maximize shareholder value

Nord Gold acknowledges recent speculation regarding a possible delisting of the Company's global depositary receipts from the Official List and the London Stock Exchange. The Board of Directors continues to consider options for maximising shareholder value, including a potential delisting of the Company's global depositary receipts, although no decision has been taken and there is no certainty that the Company will delist. The Company will keep the market updated.
31 January 2017., 10:30  

Rusal prices $600 million debut Eurobond

Rusal has announced the successful pricing of a debut Eurobond transaction with the following key parameters: size US$600mln, maturity 5 years, coupon 5.125%. Proceeds of the issuance are planned to be used for refinancing of the Company’s current indebtedness. Vladislav Soloviev, Rusal's CEO said: “We are delighted to win overwhelming support for our debut Eurobond issue from a wide group of global investors. We have opened a new market for borrowing. The success of this transaction further ...
27 January 2017., 11:00  

In 2016 Nord Gold produced 868.8 koz of gold

Nord Gold has announced its operating results for 12 months ended 31 December 2016. 2016 refined gold production of 868.8 thousand gold equivalent ounces (koz), in line with the full year production guidance range of 840-880 koz. 2016 gold doré production was 870.4 koz, down 6% compared with 924.1 koz in 2015, mainly due to the discontinuation of production at Aprelkovo, and limited access in H2 2016 to flooded higher grade ore blocks in the West African open pit mines after an unusually ...
26 January 2017., 10:05  

Norilsk Nickel sales 39.32% stake in Bystrinskiy project

The Board of Directors of Norilsk Nickel has approved the sale of an up to 39.32% stake in the Bystrinskiy project to CIS Natural Resources Fund, a Russia-focused natural resources fund established by Interros Group and ESN Group. As a basis for this transaction, the project is being valued at $730 million on a 100% equity basis that corresponds to the valuation used for the acquisition of a 10.67% stake in the project by a group of Chinese investors Highland Fund in June 2016. The valuation ...
25 January 2017., 12:00  

KrAZ to produce large diameter ingots

The Krasnoyarsk Aluminium Smelter (KrAZ, part of Rusal) is to implement the construction of a new foundry complex for the production of cylinder ingots of 230 mm to 457 mm diameter. The capacity of the new production complex will comprise 120,000 tonnes per year. As of today, the foundry equipment installation is near completion. The complex is to be officially launched into operation once the «hot tests» are successfully completed, with tests being planned for April this year. KrAZ will produce ...
18 January 2017., 11:00  

New beryllium project are planned in Russia

Expert Council of the Industry’s Development Fund approved 12 preferential loans amounting up to 2.93 bullion rubles (approximately $48.305 million). According to one of them, company Rare Metals of the Siberia plans to organize a plant to process beryllium ores into pure beryllium and its compounds. Rare Metals of the Siberia has a technology for primary raw materials and waste processing. A project cost is 0.5 bullion rubles (about $8.243 million), including 260 mln rubles ($4.286 million) ...
01 April 2017., 06:00  

Nord Gold enters into agreement with ING

Nord Gold has announced that it has entered into a 3-year facility agreement with ING Bank N.V. in the amount of US$150 million. Nord Gold intends to use the proceeds for general corporate purposes, including financing capital expenditure and/or the refinancing of its existing debt facilities. Nikolai Zelenski, Chief Executive Officer of Nord Gold, commented: “We are pleased to have secured this facility on attractive terms, testament both to our long term track record and positive outlook. ...
28 December 2016., 17:30  

Rusal completed the sale of Alpart alumina refinery in Jamaica

Rusal has announced that it has completed the sale of a 100% stake in Alumina Partners of Jamaica (Alpart) to Jiuquan Iron & Steel Group (Jisco) for a $299 mln cash consideration. The transaction was successfully completed following the fulfilment of all required conditions in accordance with the previously signed interest purchase agreement. The divestment of Alpart does not affect Rusal’s 100% self-sufficiency in alumina. Vertical integration into efficient upstream assets remains one of the ...
22 November 2016., 12:07   comment

KUMW continues to build new rolling complex

Kamensk-Uralsk Metallurgical Works (KUMW) builds the second stage of tne new rolling complex with capacity of 160,000 tonnes of aluminium plates, shtrips and sheets pert year. In May, 2015 KUMW launched the first stage, which consist cold rolling mill, coil annealing chamber furnaces, cutting lines, automatid warenhouse and etc. Now KUMW constructs the second stage,that will produce aluminium hot rolled products. You can find out more information about the possibilities of the new rolling complex, ...
11 February 2016., 15:00