NLMK improves logistics of electrical steel

NLMK Group is growing the share of container deliveries of transformer steel coils in its total export supplies of this product.

NLMK has launched a pilot project to develop a new system of logistics at its main production site in Lipetsk: electrical steel coils will now be delivered in multi-tonnage containers. This will halve the costs of their transportation. 

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Mechel Increases Coal Supplies To China's BaoSteel Corporation To Reach 1.2 Million Tonnes

Mechel announces that its contract with China’s steelmaking major Baosteel Resources corporation, which provides for an increase of coal supplies to 1.2 million tonnes of coking coal a year, has been prolonged.

According to the memorandum signed at Baosteel Resources’ Shanghai headquarters, Mechel Carbon Singapore will supply Baosteel Resources with up to 1.2 million tonnes of coking coal. The agreement will be valid from April 2014 through March 2015, with a possibility of further prolongation. Prices will be determined on a monthly basis. Mechel Carbon Singapore has fully met its obligations according to the earlier contract, having shipped a total of 960,000 tonnes of coking coal to Baosteel enterprises in China’s eastern and southern provinces. As part of last year’s agreement, Mechel Carbon Singapore also made test shipments of PCI coals, as well as steam coal from the Elga deposit. 

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NLMK Brings Premium Products To The Russian Market – Abrasion-Resistant And High-Strength Quard And Quend Steels

NLMK Group is bringing new premium steel products to the Russian market – thick plate low-alloy abrasion-resistant Quard steel and structural high-strength Quend steel, both designed for use in the manufacture of construction and mining equipment and machinery.

NLMK will present these steel products, which are unique in Russia in terms of quality, in Moscow on 9–11 April, at the 18th International MiningWorld Russia Exhibition for the Mining and Processing of Metals and Minerals (Stand B 03). 

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Certified Polished Diamond Prices Rise in March

New York: Diamond markets were positive in March after the Hong Kong show demonstrated steady Chinese demand for commercial-quality diamonds. The recent Basel shows signaled robust demand for top-quality large diamonds, fancy colored diamonds and fine-cut fancy shape diamonds. 

The RapNet Diamond Index (RAPI™) for 1-carat diamonds increased 0.8 percent during the month, while RAPI for 0.30-carat diamonds grew 3.8 percent and RAPI for 0.50-carat diamonds rose 2 percent. RAPI for 3-carat diamonds increased 1.4 percent. Prices firmed in all categories during the first three months of 2014 and the trade enjoyed its strongest quarter since early 2011. 

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NLMK Group expands funding for social programmes in 2013

In 2013, NLMK Group (LSE: NLMK) increased funding for social programmes by 6% to RUB 2.3 billion. Priority areas of NLMK Group’s 2013 Social Policy are: creating comfortable and safe working conditions; professional development and career growth; improved healthcare for NLMK employees and members of their families; organization of sporting and cultural events; and co-financing of additional non-state pension programmes.

Last year, approximately RUB 780 million was allocated for social programmes for NLMK Group employees: improvements in working conditions, disability and retirement benefits, and bonuses. 

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Mechel Launches Screening Complex At Vishakhapatnam Coal Terminal In India

Mechel reports that its subsidiary Мechel Somani Carbon Private Limited launched a screening facility at coal terminal in Vishakhapatnam on India’s east coast. This will greatly expand Mechel’s capacity for marketing coal on the promising Indian market.

Mechel Somani Carbon Private Limited’s screening facility on the basis of the coal terminal enables the company to sort anthracites supplied by Mechel’s mining enterprises. Its chief consumers are small and medium-sized businesses. The screening facility’s project capacity is set at up to 250,000 tonnes a year. 

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De Beers Adds Five New Sightholders

The De Beers Group of Companies today announced the qualification of five new Sightholders for the remainder of the 2012–2015 Supplier of Choice (SoC) contract period. De Beers’ modified SoC re-planning process, announced in 2011, enables non-Sightholder businesses that have demonstrated sufficient demand through De Beers’ auction sales in 2013 to qualify for Sightholder status and term contract supply (subject to availability).

Sightholder status in the current contract period is subject to De Beers’ forecast rough diamond availability and eligible applicants’ submission of a Contract Proposal Questionnaire (CPQ) as part of the 2014 Intention to Offer (ITO) re-planning process. Each applicant for a SoC contract under the 2014 ITO re-planning process has been subject to the same rigorous and objective selection process as those applicants that applied for supply at the start of the 2012–2015 contract period in 2011. Additionally, all applicants are required to adhere to the De Beers Best Practice Principles, ensuring that Sightholders are “living up to diamonds” by adopting strict ethical standards in their business practices. 

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VEB Continues to Finance Elga Coal Deposit Development

Mechel announces that project company Elgaugol OOO, which is part of Mechel Group, and State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” signed agreements for the second and third credit lines of project financing for developing Elga Coal Complex’s first phase, for 2.085 billion US dollars and 418.7 million US dollars respectively.

The second credit line, totaling 2.085 billion US dollars, will be used to finance construction of Elga Coal Complex’s facilities until the complex’s coal mining and processing capacity reaches 11.7 million tonnes of run-of-mine coal a year, as well as completion of works aimed at increasing the Ulak-Elga railway’s capacity. 

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Rapaport Auctions Will Hold Major Diamond Sale in Israel

Rapaport Auctions will be holding its next single stone polished diamond auction and sale in Israel during the U.S. & International Diamond Week from April 6 to 10. As the leading recycler of diamonds in the world, Rapaport expects to offer over 2,000 diamonds at the sale.

Israel is a very strong supporter of the recycled market due to the expertise of its cutters who optimize the value of recut diamonds. Rapaport is pleased to be coordinating its efforts with the Israel Diamond Exchange and expects the upcoming event to attract hundreds of international buyers. The Rapaport sale will provide unprecedented opportunities for buyers to source a large quantity and wide variety of diamonds at fair market prices. 

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NLMK Group Saves Over RUB 850 Million in 2013 Through Increased Energy Efficiency

As a result of measures taken in 2013 to improve energy efficiency, NLMK Group (LSE: NLMK) has saved more than RUB 850 million.

NLMK Group’s Strategy 2017 forecasts that its energy efficiency improvements will lead to an annual increase in EBITDA of around USD 88 million.

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