By John Helmer in Moscow Mechel metal & mining group threatened by price-rigging charge. There is an old Russian expression that the only way to run anything is “sknutom i pryanikom” — with the club or the cake. Prime Minister Vladimir Putin was therefore doing what comes traditionally when, yesterday in a provincial river town, […]

by John Helmer - Friday, July 25th, 2008
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By John Helmer in Moscow On most indicators the first full financial report issued since Sergei Vybornov took command of Alrosa in February 2007 indicates modest retreat. Sales totalled Rb90.7 billion; converted to US dollars at the December 31, 2007, rate, this is equivalent to $3.7 billion. The result marks a 4% decline in Alrosa […]

by John Helmer - Wednesday, July 23rd, 2008
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By John Helmer in Moscow MOSCOW – It is the clash of the titans of the global nickel, aluminum, copper, bauxite, cobalt and platinum markets – Vladimir Potanin’s Norilsk Nickel, Russia’s largest mining company, versus Oleg Deripaska’s United Company Rusal, the world’s biggest aluminum producer. Deripaska, Russia’s richest man, is seeking to take over Norilsk, […]

by John Helmer - Wednesday, July 23rd, 2008
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By John Helmer in Moscow Eurochem, Russia’s diversified fertilizerproducer owned by Andrei Melnichenko, and still unlisted, has unveiled a series of ambitious plans to challenge Russia’s two largest potash miners, Uralkali (URKA:RU) and Silvinit (SILV:RU). According to Eurochem sources, the company will move from zero now to planned production of 2.3 million tonnes of potash […]

by John Helmer - Tuesday, July 22nd, 2008
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By John Helmer in Moscow Lundin looks set for replacement on the Ozernoye base metals project. Lundin Mining Corporation (ticker LMC:US) is adamant that it will say nothing at all about its two-year old zinc and lead project in Russia, one of the largest in the world. Speculation that Lundin, a Canadian listed and Swedish […]

by John Helmer - Monday, July 21st, 2008
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By John Helmer in Moscow Russians go to court for to oust CEO Dudley. In the middle of 17th century Paris, Savinien Cyrano de Bergerac (that’s the real one, not the 19th century stage character), wrote a fantasy about a voyage to the moon. To get there, he describes several contrivances, in addition to his […]

by John Helmer - Sunday, July 20th, 2008
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By John Helmer in Moscow Russia’s Evraz steel group makes bid for Cape Lambert iron-ore. Speculation that the Evraz group (EVR:RU), Russia’s largest steelmaker, is preparing a takeover bid for Cape Lambert Iron Ore Ltd (CFE:AU), the West Australian junior miner, drove the latter’s share price up by 9% in the first day of trading, […]

by John Helmer - Friday, July 18th, 2008
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By John Helmer in Moscow Russian steel and mining group faces government investigation after announcement of spinoff and IPO plan for coal-mining and ferroalloy units The Mechel group (MTL:US, NYSE; MTLR:RU, RTS) — Russia’s leading specialty steelmaker and one of the leading producers of coking coal in the world — has lost 5% off its […]

by John Helmer - Friday, July 18th, 2008
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By John Helmer in Moscow Russian government gears up to open new, and old, foreign investment deals. The new Russian legislation to supervise foreign investment in the mining and resource sectors is already taking gold miners by surprise. According to a Russian junior, which is planning to list on the domestic stock market shortly, it […]

by John Helmer - Thursday, July 10th, 2008
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By John Helmer in Moscow The proverb that good things come to those who wait has recently been used to sell a brand of ale that takes a long time to pull into the glass. An older version makes the waiting less optimistical. “Wait, thou child of hope,” coined the 19th century aphorist, Martin Tupper, […]

by John Helmer - Wednesday, July 9th, 2008
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