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    Metals & Mining Industry in Russia

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    Austin

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    Post  Austin on Mon Apr 15, 2019 6:01 pm

    US was forced to negotiate with Rusal when Aluminum price globally started rising iirc around 30 % after sanctions on Rusal.

    They just wanted an honorable exit from the sanctions they themselves put
    verkhoturye51
    verkhoturye51

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    Post  verkhoturye51 on Mon Apr 15, 2019 7:34 pm

     They need to pay the bribe in the corrupt USA to do business there.  

    I wouldn't be that cynical. The US has stated that they want Deripaska to decrease his share in the ownership, and after that happened, they lifted the sanctions.
    He made them many offers until they finally agreed on the terms:

    https://www.ft.com/content/0aedfd06-9cb9-11e8-ab77-f854c65a4465
    kvs
    kvs

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    Post  kvs on Mon Apr 15, 2019 10:45 pm

    Austin wrote:US was forced to negotiate with Rusal when Aluminum price globally started rising iirc around 30 % after sanctions on Rusal.

    They just wanted an honorable exit from the sanctions they themselves put

    Semantics. And BS. They forced Rusal to invest tens of millions of dollars in a plant they don't need. They have also
    forced Rusal to pay American workers high wages instead of being free to pay far lower wages in some country that
    would benefit more from this plant.

    I could give a flying f*ck about how America thinks it saved its face. They have extorted massive amounts of money
    from Rusal.

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    Austin

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    Post  Austin on Tue Apr 16, 2019 4:52 am

    In a world where the West makes the rules and bend it and you have to play by that rulebook then you have to pay some price.

    Rusal will recover the invested and bribe money in a short period of time.
    George1
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    Post  George1 on Fri Nov 01, 2019 11:42 pm

    Russian diamond miner Alrosa sells 75% of auctioned lots in Dubai

    The overall sales revenue exceeded $7 million

    MOSCOW, November 1. /TASS/. Russian diamond miner Alrosa sold 112 large rough diamonds with a total weight of 1,740 carats at an auction in Dubai, the company said in a press release.

    The overall sales revenue exceeded $7 million.

    There were 84 participants from major diamond trading centers, such as UAE, India, Belgium, Russia, Israel and Hong Kong, according to the press release.

    "In Dubai, we sold 75% of auctioned rough diamonds. This is a good result at the time when tough market is still having an impact on the demand and sales. Despite the difficult situation, our Dubai trading site remains attractive for clients from all over the world. Thus, more than 80 companies participated in our latest auction," Evgeny Agureev, Deputy CEO of Alrosa said as quoted by the company’s press release.

    This was the fourth Alrosa’s auction for special size rough diamonds in Dubai this year. The next one will take place in December.

    Alrosa, a leading diamond mining company, has operations in Republic of Sakha (Yakutia) and Arkhangelsk region, as well as in Angola. The company accounts for 27% of the global diamond mining. In 2018, the enterprises of Alrosa Group produced 36.7 mln carats of diamonds, while revenues from sales of rough diamonds and polished diamonds amounted to $4.5 bln.

    https://tass.com/economy/1086602
    GarryB
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    Post  GarryB on Sat Nov 02, 2019 2:46 am

    They have also
    forced Rusal to pay American workers high wages instead of being free to pay far lower wages in some country that
    would benefit more from this plant.

    And when things turn bad they have some American workers they can fire first.
    George1
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    Post  George1 on Mon Nov 18, 2019 2:19 pm

    Nornickel to boost nickel output to 225,000-235,000 tonnes in 2020

    Production of palladium and platinum may drop to 103,000-106,000 ounces in 2020 compared with 106,000-108,000 ounces expected to be produced in 2019

    MOSCOW, November 18. /TASS/. Russia’s mining and metals company Norilsk Nickel plans to boost nickel output to 225,000-235,000 tonnes in 2020 from 220,000-225,000 tonnes in the previous year, according to the company’s presentation for Investor Day.

    Production of palladium and platinum may drop to 103,000-106,000 ounces in 2020 compared with 106,000-108,000 ounces expected to be produced in 2019. Copper output may stay at the level of 2019 (430,000-450,000 tonnes) and equal 420,000-440,000 tonnes, the presentation said. Nickel and PGM volumes are expected to decline due to and subject to planned furnaces maintenance at Nadezhda smelter, the company noted.

    In 2021-2022, nickel production may shrink to 215,000-225,000 tonnes, while palladium and platinum output may rise to 105,000-115,000 ounces.

    Copper output may decline to 390,000-420,000 tonnes in 2021-2022 due to secondary feedstock depletion. However, the company expects production to recover in 2024-2025 driven by growth of mined ore volumes, the presentation said.

    The company’s management expects supplies of platinum-group metals to the global market by 2030 to be sufficient for production of 25-40 mln autocatalysts, which in its turn will reduce air pollutants by 170-270 mln tonnes. Moreover, the announced growth of nickel output will allow production of 3.5-5.5 mln nickel-rich EV battery packs, which will reduce carbon dioxide (CO2) emissions by 50-100 mln tonnes, Nornickel stated.

    https://tass.com/economy/1089953

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