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Metals and Mining

Metals and Mining
June 29, 2010Kharcyzk Pipe will pay out dividends for 2009

In their AGM, held on June 25, shareholders of Kharcyzk Pipe decided to pay out dividends for 2009. UAH 590 thousand in 2009 net income, or UAH 0.22 per share, will be distributed.

Metals and Mining
June 29, 2010MMKI signs 25-year contract with Metinvest on raw materials supply

According to Vladimir Boyko, CEO of Mariupol Illich ISW, the company has signed a 25-year agreement with Metinvest Holding on the supply of raw materials, namely coke and concentrate. He also noted that this plays into the hands of the company’s current management in terms of the conflict concerning MMKI’s ownership.

Metals and Mining
June 18, 2010MMKI is going to increase statutory fund by 3.7 times

According to a press release published in a regional newspaper of Mariupol City, Illichevec, shareholders of Mariupol Illich ISW at its AGM—which will take place on July 1—will vote on a 3.7-fold increase in the statutory fund of the Company. This item was added to the AGM agenda. If the vote passes, an additional 9.02 bln shares (par value UAH 0.25) will be issued and the statutory fund would increase by UAH 2.255 bln to UAH 3.092 bln. The number of shares following the issue would reach 12.372 bln. The Company plans to use raised money to increase working capital and further development.

Metals and Mining
June 17, 2010Dzerzhinka stops rolling-mill equipment

According to Interfax, IUD-owned steelmaker Dzerzhinka [DMKD UK] on June 14 stopped its rolling-mill equipment, due to a suspension of natural gas supply to the Company.

Metals and Mining
June 16, 2010MMKI may join Metinvest Holding LLC

According to Vladimir Boyko, chief executive officer of Mariupol Illich ISW [MMKI UK], the company is going to join Metinvest Holding LLC in the event that the current confrontation around its ownership is resolved in favor of its “old” shareholders. Boyko was motivated to this decision by the fact that Metinvest Holding is a Ukrainian company that is self sufficient in raw materials.

Metals and Mining
June 11, 2010Avdiivka Coke to not pay dividends for previous years

At their AGM held on June 10, the shareholders of Metinvest-owned Avdiivka Coke [AVDK UK] decided not to pay dividends for previous financial periods. About UAH3 bln in retained earnings was thus left undistributed.

Metals and Mining
June 10, 2010MMKI faces natural gas shortage

According to Interfax, Donbasstransgas has decreased the gas supply to Mariupol Illich ISW. Gas pressure has diminished by 1.8 times because Mariupol Illich ISW owes Donbasstransgas about UAH 300 mln for the gas it has consumed. The company notes that it has about UAH 1.8 bln in VAT that the government has not refunded.

Metals and Mining
June 8, 2010Interpipe strengthens its market position in the Middle East

According to Interfax, Ukraine’s largest pipe corporation, Interpipe, successfully completed the requalification procedure for major oil and gas companies in Oman, the UAE, Egypt, and Kuwait. The procedure resulted in expended pipes for oil and gas extraction and transportation.

Metals and Mining
June 7, 2010Azovstal failed to pay dividends

At its AGM held on June, four shareholders of Ukraine’s second-biggest steelmaker, Azovstal, decided not to pay dividends. This decision left about a billion dollars in retained earnings undistributed.

Metals and Mining
June 3, 2010Ukraine’s coke output up 14.6% YoY in 5M10

According to Interfax, Ukrainian coke companies increased their output by 14.6% to 7.9 mln tonnes in 5M10.

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