Metallurgy news
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Eldorado reduces gold production at a mine in TurkeyCanada's Eldorado Gold Corp (Eldorado) today announced it is cutting its plan to mine gold from the Kisladag mine, Turkey's flagship gold mine. Gold recovery is below expectations, according to a press release. Thus, the company expects production this year to be between 170,000 and 180,000 ounces…
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Nord Stream 2 could cost Ukraine dearlyUp to 3 percent of GDP could be lost by Ukraine in connection with the launch of the Nord Stream 2 gas pipeline by Russia, as US Ambassador to Ukraine Marie Yovanovitch said at a conference in Kiev. Nord Stream 2 will cut gas transportation through Ukraine. The US ambassador said this could lead to…
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Vale's coal production in Mozambique exceeds 3 million tonnes in the third quarterMozambique's coal production at the Moatize mine in Tete province reached a record 3.2 million tonnes in the third quarter of this year, up 5.8% from the previous quarter, Brazilian mining company Vale said. In addition, Vale's iron ore production reached a record 95.1 million tonnes in the third…
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AISI US Steel Production DataUS steel production declined slightly last week and was 0.7% lower than the previous week, but 4.6% higher compared to the same week last year, according to data released by the American Iron and Steel Institute. US capacity utilization dropped to 74.3% last week from 74.8% the previous week, but…
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Ukraine has decided on the conditions for the resumption of purchases of gas from RussiaUkraine, which had not bought gas from Russia for more than two years, could have purchased it, but on condition that the fuel collection point was located in the east, and not on the western border of Ukraine, as Deputy Prime Minister Volodymyr Kistion said. If the entry point is moved to the…
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Copper has risen by 50% and this is not the end of growthCopper prices on the London Metal Exchange are growing strongly - by 1.7%. The metal has earned more than 50 percent in the past 12 months, and so far Dr. Copper, as he talks about copper, is not bad. Copper on the LME for 3-month delivery is worth $ 7123.00 a tonne on Tuesday, dealers said…
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China cuts production of steel and coalChina's economy is expected to grow by 6.5 percent of GDP in 2017, he said Lifeng, chairman of the National Development and Reform Commission, the highest authority overseeing the Chinese economy. Overcapacity is one of the major challenges facing the Chinese economy. Over the past five years…
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The construction sector bears the brunt of the recent steel price risesMEPS International Ltd. reports that between January and September 2017, the average cost of steel purchased for use in the global construction sector increased by 18.7 percent. Less significant changes were noted in the September report, but there was a double-digit increase in the price of steel…
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Electric vehicles drive new nickel and copper projectsJinchuan Group, the largest nickel producer in China, will begin construction on a new project in Guangxi next year to produce raw materials for electric vehicles (EVs), its chairman said. The project, in the southern port city of Fangchenggang, where the Jinchuan plant is already smelting copper…
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Polyus increases gold productionThe largest gold producer in Russia, Polyus, has published another record quarterly report. Third-quarter production increased 16% year-over-year to 642,000 ounces. Gold production in the first nine months of the year reached 1.58 Moz, an increase of 13%, and CEO Pavel Grachev said the company is…
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