Russia's Baikal Mining Company, owned by oligarch Alisher Usmanov, has agreed $1.25 billion of project financing from banks, Reuters reports.
The company wants to start exploitation at Russia’s biggest untapped copper deposit, Udokan, this year. Speaking to reporters in Moscow, Usmanov did not disclose the names of the banks...
Suppliers of hot-rolled (HR) and cold rolled (CR) steel sheet to Russia’s Central Federal District around Moscow kept prices unchanged for early 2019, despite an increase in the domestic value-added tax (VAT) rate, Metal Bulletin reports.
Effective 1 January 2019, VAT in Russia will increase to 20% from 18%....
One of Rusia’s leading clothing chains, Gloria Jeans, has appointed Sheren Terni, former general director of Victoria’s Secret, as its new CEO, Vedomosti reports.
The company is said to be preparing for an initial public offering of shares (IPO), among other plans to revitalize the fashion brand, the report...
Russian federal agents raided several stores belonging to the Krasnoe & Beloe (“Red & White”) alcohol sales chain on Wednesday, Forbes Russia reported.
Officers from Russia’s Federal Tax Service, the Federal Alcohol Market Regulation Service, the Federal Security Service, and the Special Police Force carried out searches of the...
A draft bill allowing Russian companies to produce crops used in medicinal narcotics was approved by the Russian government on Wednesday, with officials saying this would reduce the country’s dependence on imports from states that have imposed sanctions against it, Reuters reports.
Most of the substances used by Russia in domestically...
Higher demand from Russia’s Central Bank and lower demand in China has led one of the country’s biggest gold traders, VTB Capital, to reduce gold exports in 2018, its commodities head, Atanas Djumaliev said, according to Financial One.
The Russian central bank, one of the world’s largest holders of...
Russian authorities have opened an investigation into a potash mine fire which has killed eight miners, The Associated Press reports.
Rescue teams in the Ural Mountains are still looking for a construction worker trapped inside the burning potash mine owned by the Uralkali company after the bodies of eight...
Russian steel and coal producer Mechel said on Wednesday it had prolonged a deal on coal supply with China's Jidong Cement until the end of 2019.
Mechel will supply up to 2 million tons of coal to its Chinese partner, the company said in a statement, adding that this is...
One of Russia’s leading precious metals miners, Polymetal International, has said it had completed a non-cash exchange of its Tarutin property in Russia for 85% of the East Tarutin copper-gold property in Kazakhstan, according to Morningstar.
The asset swap with Russian Copper Company was announced in April this year.
“East...
Russia imported used textile stock worth $150 million in 2017, Intellinews reports citing data from the United Nations Comtrade database.
According to the news outlet, countries across Central, Southeast and Eastern Europe imported a massive 593 million kilograms of used textile, mainly clothing, valued at $771 million in 2017. This means the region...
