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By John Helmer in Moscow Sometimes it can happen that men of steel have a soft underbelly. It’s to protect that that they wear armour-plate. The release this week of group financial results for Severstal, the third ranked Russian steelmaker owned by Alexei Mordashov, exposes the high cost, and poor judgement perhaps, of Mordashov’s purchases […]

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By John Helmer in Moscow Steelworkers at the Zlatoust steel mill, which is owned by Vadim Varshavsky’s Estar group, have won an unprecedented claim for wages cut by the company, following a local court ruling and a 5-day hunger strike. It is the first known case of a successful protest action by Russian steelworkers since […]

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By John Helmer in Moscow Despite a blackout of news from Archangel Diamond Corporation (AAD:CN), the Canadian mining junior will seek US court orders to oblige two key Russian executives to give testimony on oath in ADC’s claim that it has been unlawfully deprived of its stake in the multi-billion dollar Grib diamond pipe, in […]

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By John Helmer in Moscow On February 24, at the headquarters of Russia’s state media, Prime Minister Vladimir Putin visited the offices of Russia Today, an English-language cable and satellite broadcaster. He was escorted by Svetlana Mironyuk, the head of the Russian News and Information Agency (RIA-Novosti), an administrative holding for state media; in the […]

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By John Helmer in Moscow The only internationally listed Russian port company is turning out to be one of the stable revenue survivors in the shipping, trading, container, and currency storms now blowing havoc across the Black Sea. But don’t pay attention to the stock markets, the company management and Russian maritime analysts warn. Shares […]

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By John Helmer in Moscow The Belarusian Potash Company (BPC), the trader for Uralkali and Belaruskali, has announced it will offer a 25% discount off the spot price of potash on the Brazilian market from $1,000/tonne to $750-$765/tonne (including cost and freight, CFR). The offer is good from this month to end-May. Brazil is one […]

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By John Helmer in Moscow Russian steel proprietors are showing their anger at negative market reports, and share price cuts, following recent disclosure of their heavy investment spending on North American assets. But there has never been a time when the future growth and profitability of Russian steelmaking has depended less on the United States […]

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By John Helmer in Moscow More than one worker in ten in the Russian mining and metals sector is currently out of work, or facing company-ordered reductions of work time or pay, or both. The statistics are being gathered by the Russian Mining and Metallurgical Trade Union, which has been monitoring job and pay conditions […]

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By John Helmer in Moscow Sergei Vybornov, the chief executive officer of Alrosa for the past two years, is mobilizing federal government and industry support in Moscow to oppose a bid by Sakha President, Vyacheslav Shtirov, to replace him, and take over the top post at Alrosa. Shtirov made his bid at a meeting with […]