Thursday, January 23, 2020
Gold production in Russian in January stood at 17.84 tons, up from 15.67 tons in the same period in 2018, the country’s Finance Ministry said on Wednesday, according to Finmarket. Production for the period included 14.11 tons of mined gold compared with 12.26 tons a year ago, the ministry...
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 million tons, according to the Central Dispatching Department of Fuel Energy Complex (CDU TEK). Coal exports rose by 2.6% to 191 million tons in the reporting period, Newsnn.ru reported citing official data. Deliveries of Russian coal to the domestic market rose...
U.S. car manufacturer Ford will pay around $200 million in cash to workers and suppliers who lose their jobs when the company closes three of its plants in Russia in June, the company said in a statement. The U.S. automaker officially announced this week it is closing two assembly...
Russia will no longer produce the An-124 jumbo aircraft and is planning a new super-heavy aircraft to replace the Ukraine-designed “Ruslan” by 2027, Izvestya reports. The An-124 Ruslan is a heavy long-range transport aircraft designed in the Soviet Union. Historically, the Ruslan has been a staple of military and civilian...
Turkey has finished its special protecting probe on steel imports from Russia, without imposing restrictions, Russia’s Industry and Trade Ministry said in a statement on Tuesday, according to Mail.ru News. Turkey is the largest export market for Russian steelmakers. "As a result of an investigation, the Turkish side made a unanimous...
Russian steel manufacturer Evraz, owned by billionaire Roman Abramovich, is considering spending almost half a billion dollars on a new rail mill in the United States, RBC reported. New U.S.protectionist measures imposed this year, including a 25 percent duty on imports of steel from some countries to the United...
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...
German automotive giant Mercedes-Benz's $280 million plant in Russia’s Podmoskovye will be inaugurated by President Vladimir Putin on Wednesday, Gid55 reported. The 85-hectare plant is located in the Esipovo Industrial Park, about 40 kilometers north of Moscow, and is equipped with Industry 4.0 technologies and full flexible assembly technology...
Swedish steel company SSAB has agreed to divest its Ruukki Construction’s business operations in Russia to the Salavatneftemash Open Joint Stock Company, SteelTimesInt reports. The transaction is expected to complete in the fourth quarter of this year and is subject to the approval of the Russian anti-monopoly authority. The transaction...
Global food and drink packaging company Huhtamaki is investing around $8 million in its fiber packaging operations in Russia to facilitate further growth, the company said in a press release. In addition to the fast-growing Russian market the operations in Ivanteevka, near Moscow, the facility also serves the neighboring countries of Belarus...