Copper, Titanium

Trans-Baikal to create advanced development zone to support mining industry

According to the authorities of the region, additional preferences will allow accelerating the development of the region's main investment projects.

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Over a year, mining of non-ferrous metal ores in Kazakhstan grew by 11%, production of precious and non-ferrous metals – by 20%

In the first quarter, the mining of non-ferrous metal ores made up 273.3 billion tenges in money, which is by 11% more than in the same period a year earlier.

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Intergeo to stay at home: Mikhail Prokhorov’s company not to merge with Mercator Minerals

Intergeo of Mikhail Prokhorov, which has going to enter the stock market since 2011, won’t be able to do it again: It has rejected a merger with the Canadian Mercator Minerals. The deal window will expire on August 1st, and Intergeo won’t prolong it. Analysts believe that Mr. Prokhorov could be alarmed by the fact that $1.8 billion are necessary to be attracted for the company's development, and the access of Russian investors to foreign money was complicated.
Intergeo, a part of Mikhail Prokhorov’s ONEXIM, renounced the acquisition of the Canadian Mercator Minerals, sources, familiar with the negotiations, told the Kommersant. The Kommersant’s interlocutors didn’t call reasons of this.
99% of Intergeo belong to Mikhail Prokhorov (via Daselina Investments Ltd.), 1% to the company’s president Maxim Finsky through Kirkland Intertrade Corp. The company has 12 licenses for deposits of nonferrous metals in the Russian Federation, including large ones – the Kingash deposit (nickel) and Ak-Sug deposit (copper), but it doesn’t have operating enterprises. General probable reserves and resources of Intergeo make up more than 15 million tons of copper, 9 million tons of nickel, 1 million tons of molybdenum, 750 tons of platinoids and 90 million tons of titanium.

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Russia opens subsoil for foreign companies

The government may ease operation conditions of foreign state-owned companies in Russia. Until now, they could get in projects of strategic deposits development in the country not more than 25%. Primarily, this liberalization aims to attract investors from China, India and the Middle East. Primarily state-owned companies conduct international expansion just in these countries, and Russia will reorient to partnership with them in condition of conflict with the West over the Ukraine.
The Government has instructed the Ministry of Natural Resources, Ministry of Economy and FAS to consider whether to give foreign investors the opportunity to increase their share in companies, which develop subsoil plots of federal importance (large deposits of oil, gas, gold, nickel, platinum and copper) in excess of the limit, set by the legislation. This topic was raised by CEO of Metalloinvest Andrei Varichev at the Cabinet’s meeting on July 10; he offered to amend the law "in terms of increasing the possibility of the presence of foreign investors – certainly, through consideration by the Government Commission - from 25% to 49%". According to him, such measures are necessary for the development of large deposits, in particular to attract project financing.
Now, according to the federal law 57, there is a special procedure of foreign investments in companies that hold licenses for subsoil plots of federal importance. These companies are considered to be controlled by a foreign investor if it has a share of 25% or more.

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Rosstat reports on the dynamics of nonferrous metal industry in January

Russia reduced primary aluminium production by 17.1%, copper – by 1.4% and increased nickel production by 8.6% in January 2014 against the same period last year, Rosstat reports.
There is also a growth in aluminium rod and profile production by 5.4%, while decline in aluminium mill products output by 19.6%.

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In the first 9 months of 2013, Russia decreased production of almost all non-ferrous metal

In January-September of 2013, Russia decreased the production of primary aluminium by 11.4% and nickel by 4.5% as compared with the same period of the last year, the Russian Statistics Service reports.

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New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

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The RF reduces production of aluminium by 8.2%, nickel – by 8.8%, copper – by 1.6% for 2 months

For the first 2 months of 2013 the RF has reduced production of aluminium by 8.2%, nickel – by 8.8%, copper – by 1.6%, zinc – by 6.4% compared to the same period of 2012, Federal Service for State Statistics (Rosstat) reports.

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