Rusal Trading House expects to begin test trading of aluminum on the St. Petersburg International Mercantile Exchange (SPIMEX) by the end of this year, according to General Director Igor Ignashov. Speaking on October 31, Ignashov emphasized that the sale of aluminum on SPIMEX will serve as an important experiment for the market, offering insights into...
READ MORERussia is in negotiations with other BRICS nations to establish an international precious metals exchange, Russian Finance Minister Anton Siluanov announced on Thursday. The initiative aims to promote fair pricing and boost trade in the precious metals sector, providing an alternative to Western-dominated trading venues. Siluanov detailed that the proposed mechanism would include the development...
READ MOREThe price of palladium on the world market has surged to $1,170 per troy ounce for the first time in ten months, driven by concerns over potential new sanctions on Russian exports. On October 24, the price jumped by more than 10% in a single day, outpacing other precious metals and reflecting market fears about...
READ MOREWestern sanctions on Russian zinc miner Ozernoye have left the company struggling to replace essential equipment required to increase output, according to multiple sources familiar with the situation. As a result, predictions for global zinc supply in 2025 may be overstated, heightening concerns in a market already facing supply shortages. Ozernoye officially launched production in...
READ MORERussian mining company Seligdar has reported a 5% decrease in gold production from January to August 2024, totaling 5.94 metric tons. The decline in output was attributed to the scheduled processing of previously mined and stockpiled ore and the completion of operations at the Lunnoe deposit. Ore extraction also dropped significantly by 33%, reaching 6.2...
READ MOREVSMPO-AVISMA reported a 0.44% decrease in revenue under Russian Accounting Standards (RAS) for the period of January to September 2024, totaling 72.3 billion rubles ($769 million), compared to the same period last year. The company’s cost of sales rose by 17.5% to 48.609 billion rubles ($517 million), according to its financial statements. Key profit metrics,...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREThe Russian government plans to exempt certain raw materials for aluminum production from the existing 5% import duty, according to a draft decree from the Ministry of Industry and Trade, as reported by Kommersant. The exemption will apply to aluminum fluoride and electrodes imported between May 2, 2024, and December 31, 2025. This measure aims...
READ MOREThe board of Russian aluminum major Rusal is considering a share buyback of RUB 15 billion ($155 million), representing approximately 2.8% of its share capital. The company argues that the buyback could be beneficial for shareholders. However, coal major Sual Partners, controlled by sanctioned Russian oligarch Viktor Vekselberg, intends to block the share buyback. Sual...
READ MORERussian mining company Nordgold has announced plans to invest over 30 billion rubles (approximately $321 million) in the development of the Sardana zinc deposit, one of Russia’s largest zinc fields in terms of reserves. The Sardana deposit is located in the remote Ust-Maisky area of the Yakutia Republic, covering an area of 6.1 square kilometers....
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