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By John Helmer in Moscow
Prime Minister Vladimir Putin met yesterday at Novokuznetsk city, in the Kemerovo region, with families of miners who were killed at the May 8 explosions that destroyed the Raspadskaya coking-coal mine, one of Russia’s largest. In remarks published on the prime ministry website, Putin hinted that he holds Raspadskaya’s management and [...]
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By John Helmer in Moscow
As Russian villagers used to say in olden times, when the tsar is kind, the wait to see him is long; when he is cruel, there is no delay at all.
Prime Minister Vladimir Putin’s explicit attack on steel prices at the start of this week, and the commencement of a new [...]
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By John Helmer in Moscow
In an unusual break with the traditional hold Russian steel companies like to keep on their domestic coking-coal sources, and secure the future expansion of their steel capacity with ample reserves, the Evraz group is reported to be considering the sale of two of its Kemerovo mines to global and [...]
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By John Helmer in Moscow
The Chelyabinsk prosecutor has opened a criminal investigation into a lethal explosion this week at a coke battery of the Mechel group in Chelyabinsk. One worker at the battery was killed immediately, and three others are in serious condition in hospital after the blast, which occurred, according to a company statement, [...]
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By John Helmer in Moscow
The federal mine inspectorate in Russia, Rostekhnadzor (RTN), has cleared Evraz’s mine subsidiary Yuzhkuzbassugol (YKU) to reopen the Esaulskaya mine, after a methane accident on January 20 led to a regional court-ordered closure on January 25. Evraz is owned by Roman Abramovich’s Millhouse holding, and Alexander Abramov.
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By John Helmer in Moscow
Evraz, Russia’s largest vertically integrated steel group, has been ordered by the federal mine safety agency Rostekhnadzor (RTN) and a Kemerovo court to stop production at the Esaulskaya mine, in the Kemerovo region, until inspectors have resolved reported methane problems. Esaulskaya is one of several mines in the wholly owned Evraz [...]
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By John Helmer in Moscow
Billy Bunter was a fictional schoolboy character well-known to British and colonial schoolboys of my generation. Like most of us, his eyes were bigger than his stomach. Unlike many, by the age of ten Bunter had grasped the concept of leverage — to feed himself he was always borrowing against the [...]
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By John Helmer in Moscow
Chinese checkers may be the closest Russia’s metal oligarchs, Igor Zyuzin (right) and Vladimir Lisin (left), have come to understanding Chinese strategy. The problem is that the game is neither Chinese, nor checkers. It’s actually an American invention, dating from the 1880s. It is based on the simple tactic of jumping [...]
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By John Helmer in Moscow
Ronald McDonald is the most famous brand-name franchise in the world.
It operates 32,000 sales points, with more than 58 million clients, in about 118 countries around the world. Currently, the McDonald’s Corporation has a market capitalization of $61 billion; this is only 16% below the peak of its pre-crisis [...]
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By John Helmer in Moscow
Confirmation this week by Mechel of its takeover of the West Virginia coal producer, Bluestone, has drawn fire from Moscow bank and brokerage analysts, who claim the price paid exceeds the value of the deal.
The Mechel announcement was issued on April 22, confirming details of a transaction which [...]
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