Russian non-ferrous industry 2010 outlook

January
The highlight of January was placing of Rusal IPO on Hong Kong and Paris exchanges. As a result Rusal gained more than $2bn.
The first stage of modernization of the dressing mine of Kolskaya Mining and Metallurgical Company was completed.
Katur-Invest (part of UMMC) produced 2 millionth ton of copper rods.
One customs tariff of The Customs Union between Russia, Belarus and Kazakhstan setting aluminium profiles import duty at 20% of the customs value, but no less than 4 EUR per 1kg came into force.
En+ Group announced successful completion of restructuring of credits in the amount of $1.05bn.

February
Rusal remitted its creditors $2.143bn from the funds gained due to placing of its IPO on Hong Kong and NYSE Euronext exchanges.
Yaroslavl mining company launched zinc concentrate facilities.
Vacuum-plasma coating center opened at Polema.
Guy Non-Ferrous Metals Processing Works launched a copper and its alloys thermal treatment plant.
Rusal and Rushydro agreed on continuing carrying out of the project on building of Bogucharsk Electric-Steel Plant.
Kamensk Katanka launched copper rods production.

March
Highland Gold Mining dispatched the first lot of concentrate from Novoshirokinskoe mine commissioned in October 2009.
Kirov Non-Ferrous Metals Processing Plant started the set up of extra-thin bands horizontal continuous annealing aggregate.
Norilsk Nickel proposed to process part of Rosrezerv copper concentrate stock to meet growing demand for copper.
Novokuznetsk Aluminium Smelter restored production which had been suspended in March 2009.
Government of the Sverdlovsk region made a decision to support Uralsk Nickel investment project.
Preliminary project feasibility study of Udokan Copper Field development was completed.
First two railway cars of tungsten were dispatched from earlier suspended Lermontov Mining and Dressing Plant.
Kirov Non-Ferrous Metals Processing Plant improved technology of manufacture of copper bands for roofing.

April
A decision to extend 2010 investment program by 111M rubles was made at Chelyabinsk Zinc Plant CEO meeting.
RMK redeemed the first bonded debt.
Works on commissioning of the 5th stage of electrolysis with the capacity of 166kt of primary aluminium were completed at Iskutsk Aluminium Smelter.
Bank of Moscow opened line of credit in the total amount of $150M for more than 3 years to VSMPO-Avesma.

May
Sredneuralsk Copper-Melting Plant (part of UMMC) obtained a credit for $37.5M for 1 year from VTB. Soyuzmetallresurs postponed IPO in Hong Kong.
Aluminium: Alloys, Rolled Products and Profiles for Industry and Construction, 2d International Conference was held during Aluminium/Non-Ferrous exhibition in Moscow. Among the speakers of the conference were top-managers of Rusal, KUMZ, Alcoa, En+, SMK, Tatprof, Segal etc.
Bashkiria Copper (part of UMMC) launched building of subterranean mine at Yubileyny deposit.
VMK Invest launched aluminium profiles production at its facilities in Kaluga.

June
Novosibirsk Tin Plant applied for bankruptcy.
Tatprof opened its 5th pressing complex after suspension.
Rusal and FGS UES signed an agreement on setting up of production of new types of wires for aerial transmission facilities.
Alcoa and United Ship-Building Corporation signed a memorandum on mutual understanding to facilitate development of the Russian ship-building industry and extend using of aluminium in the Russian ship-building industry.
Tital Mining Corporation began to carry out the first state of the project on development of the Tsentralnoe titanium-zirconium field in the Tambov region.
Norilsk Mining and Metallurgical Plant Named after A.P. Zvenyagin (part of Norilsk Nickel) celebrated its 75th anniversary.

July
Copper cathodes by Uralelektromed were registered with LME.
UMMC began production of copper ore at Shemurks field.
Alkoa SMZ (formerly Samara Steel Plant) celebrated its 50th anniversary.
En+ Group and Basic Element signed a memorandum on strategic partnership in the mining industry with Norinco.
Metals of Eastern Siberia Corporation signed a cooperation agreement with MCC Overseas, a sister company of Metallurgical Corporation of China.
Russian Funds Investment Group decided to invest in tin production the Khabarovsk region.

August
Rusal and Sberbank agreed on terms of obtaining the credit for $4.59bn of the former.
Electrozink (part of UMMC) increased cadmium production capacities by 25% to 400 tpy.
Srednerussky Bank of Sberbank of Russia signed an agreement on issuing a loan for 527M rubles to Agrisovgaz for carrying out of a project on building of a galvanizing plant.
Svyatogor began to extend development of Volkovsk field.
KUMZ and Uralmashzavod signed an agreement on reconstruction of 5000 кН leveling - stretching machine.

September
License for copper development at Udokanskoe copper field was reissued from Mikhailovsk GOK to Baikalsk Mining Company (part of Metalloinvest).
Agrisovgaz management decided to establish 2 technological clusters.
VSMPO-Avisma Corporation bought 18.98% of Uralredmet shares.
Electrizink melting and rolling facilities (part of UMMC) began mastering of production of new zinc-aluminum alloys.
1 millionth ton of aluminium was produced at Khakassky Aluminium Smelter.

October
Raiffeisen Bank, Urals branch and VSMPO-Avisma signed an up to 3 year loan contract for $25M. Polymetall obtained a line of credit for $150M.
Russian Government commissioned Federal Service for Technical and Export Control to issue VSMPO-Avisma a 5 year general license for export of titanium alloys.


November
Federal Untimonopoly Service banned UMMC from buying Revda Nohn-Ferrous Metals Processing Plant. Stupino Metallurgical Company celebrated its 70-year anniversary.
VSMPO-Avisma signed a long-term cooperation on products repartition with Universal Stainless & Alloy Products.
Irkutsk Aluminium Smelter completed extending of foundry facilities project amounting to 737M rubles. The total capacity of the new foundry facility reached 165k tpy.
Metal-Expo’2010, 16th International Industrial Exhibition was held in Moscow. Among its exhibitors were the largest Russian non-ferrous producers such as UMMC, Chelyabinsk Zinc Plant, KUMZ, Stupino, VSMPO-Avisma etc.

December
KUMZ launched the first foundry and melting complex for production of big-size ingots with the capacity of 60k tpy.
Severny-Gluboky Mine of Kolsk Mining and Metallurgical Company (part of Norilsk Nickel) reached its design capacity.
Rusal and Moskabelmet announced obtaining of a sample of cable of heat-resisting aluminium and zircomium alloy.
Russia adopted a 10% copper export duty and increased nickel export duty from 5 to 10%.
Novokuznetsk Aluminium Smelter produced an experimental batch of alloys for manufacture of KamAZ engine pistons.
A. Bannikov, a former head of Sredneuralsk Copper-Melting Plant headed UMMC.