Author Archives: Fred Dukes

Metalloinvest will build a third hot briquetted iron production facility at Lebedinsky GOK in Gubkin after signing a contract with a consortium of companies comprising Siemens VAI Metals Technologies GmbH and Midrex Technologies, Inc. The new plant will be the … Read More »

Severstal’s Cherepovets steel mill recently commissioned its new No.7 coke oven battery, KB-7, after a lengthy reconstruction project valued at $142.5 million. The KB-7 battery was ordered to replace its older counterpart as a method to increase the rate of … Read More »

Mechel has reached an agreement with an international syndicate of lender banks for approval for waivers and amendments to certain major credit facilities. Mechel worked with more than 25 leading banks internationally and in Russia in order to explore financial … Read More »

Evraz has signed an agreement to acquire the stake in OJSC Timir for approximately $160 million, to be paid in installments. Evraz will then receive a 51 percent stake in Timir while OJSC Alrosa will own 49 percent, minus one … Read More »

OAO Severstal has secured a contract to supply metal rolls to Renault-Nissan Alliance projects in Russia from March through August. With 87 percent of market shares, Severstal has secured its position as a leading supplier of metal rolls to international … Read More »

The board of directors for Russian coking coal mining company Raspadskaya will not pay a dividend for 2012, according to a recent statement made by the company. The company also did not pay a final dividend in 2011, Reuters reports. … Read More »