Kazakhstan Chamber of Commerce in the USA

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ArcelorMittal Temirtau output grows in January-September 0

Posted on October 23, 2011 by Alex

ArcelorMittal Temirtau, the operator of Kazakhstan’s largest steel mill, said on Monday its steel output rose 15% year-on-year in the first nine months of 2011.

The company produced 2.86 million tonnes of crude steel  from January through  September  of  2011 and plans to raise full-year production to 3.8 million tonnes from 3.3 million tonnes last year.

Rolled steel output increased by 11% year-on-year to 2.42 million tonnes in the first nine months of 2011, while pig iron production rose 13% to 2.43 million tones.

ArcelorMittal Temirtau also plans to upgrade annual capacity at its plant to six million tonnes by 2015, betting on strong demand growth, primarily in the former Soviet Union.

The company supplies more than 50% of its steel to CIS countries and around 35% to Iran.

SOURCE: Kazakhstan Daily News Brief, October 18, 2011

ArcelorMittal Temirtau unions threaten strikes over wages 0

Posted on October 13, 2011 by Alex

Union representatives at ArcelorMittal Temirtau, the largest metallurgical enterprise in Kazakhstan, said last week the company’s steel workers and coal miners were ready to strike if the company’s management fails to meet their demand to raise wages by 30%, local news agencies reported.  On Tuesday, ArcelorMittal Temirtau issued a statement saying that wage increases were impossible  in  2011  due  to  the company’s continuing  “austerity regime,” according to local media.  ArcelorMittal Temirtau, which employs more than 40,000 people, was hit by the steep fall in steel demand in late 2000s.  However, in April, the company said it plans to invest $900 million by 2015 to upgrade its steel plant, as demand has begun to recover.

SOURCE: SRI, Kazakhstan Daily News Brief, Issue dated October 12, 2011

Kazakhstan Daily News Roundup – August 16, 2011 0

Posted on August 19, 2011 by Alex

BTA Bank reshuffles management
(SRI) – Kazakh lender BTA Bank has appointed Marat Zairov the new CEO, replacing Anvar Saidenov . Saidenov has been named chairman of the board of directors, the bank said in a statement on Monday.

ENERGY:

Caterpillar to provide generators for Kazakh section of Asian Gas Pipeline (SRI)

Max Petroleum: Drilling begins at the UTS-3 appraisal well at Block A, Kazakhstan (Proactive Investors)

BUSINESS AND ECONOMY:

Kazakhstan may raise official inflation target – central bank
(SRI) – The National Bank of Kazakhstan may raise its inflation target for 2011 from the current 6.0-8.0%, as consumer prices in the country are rising fueled by rapid economic growth and soaring commodity prices, the central bank said in a statement last week.

Kazakh H1 trade surplus grows to $28.3 billion (Reuters)

Indicators – August 15, 2011 (Reuters)

METALS AND MINING:

ArcelorMittal Temirtau increases investment into coal division
(SRI) – ArcelorMittal Temirtau, the largest metallurgical enterprise in Kazakhstan, plans to invest $160 million into its coking coal division this year, up from $90 million in 2010, the company said in a statement on Monday, the Kazakhstan-Novosti news agency reported.

POLITICS AND SECURITY:

Kazakhstan’s Islamist threat? (The Diplomat)

CSTO informal summit opens in Astana (Interfax)

SOURCE: http://silkroadintelligencer.com/2011/08/16/

 

 

 

Kazakhstan Daily News Roundup – August 10, 2010 0

Posted on August 10, 2010 by KazCham

HEADLINES:

Max Petroleum shares soar on new oil find
(SRI) – Max Petroleum, a Kazakhstan-focused oil junior, said it had struck oil oil at a greater depth, potentially extending its existing Zhana Makat oil field in western Kazakhstan.

Unicredit not expecting further writedowns of ATF Bank
(SRI) -UniCredit does not plan to further write down the value ATF Bank, after it marked down the value of its Kazakh subsidiary by more than half a billion euros in less than a year, the head of its Austrian arm said last week.

Eurasian Bank reports $9.5 million net loss in H1
(SRI) – Eurasian Bank reported last week a net loss of KZT1.4 billion ($9.5 million) in the first half of 2010, compared to a net profit of KZT158.9 million ($1.58 million) in the same period last year.

ENERGY:

Kazatomprom’s uranium output continues to rise in H1 2010
(SRI) – Kazatomprom, Kazakhstan’s national uranium company, said it produced 8,452 tonnes of uranium in the first six months of 2010, a 42% increase compared to the same period in 2009.

Uranium One shares jump on narrower loss, forecast (Reuters)

BUSINESS AND ECONOMY:

Central bank reports current account surplus of $5.7 billion in H1 (SRI)

Moody’s changes outlook on Kazkommertsbank’s financial strength rating to stable from negative (Moody’s)

Kazakhstan imposes no restrictions on grain exports (Itar-Tass)

Russia to become Kazakhstan’s main grain export destination – Agricultural Ministry (Interfax)

Share of Kazakhstan-produced goods in procurement by state authorities exceeded 55% in H1 (Interfax)

National Bank of Kazakhstan: Exchange rates August 10, 2010 (Kazinform)

METALS AND MINING:

Bitter row knocks sheen off Kazakh gold company (EurasiaNet)

ArcelorMittal Temirtau to make own billet (Steel Business Briefing)

Kazatomprom and Toshiba to establish rare metals production JV by year-end (Interfax)

SOURCE: http://silkroadintelligencer.com/2010/08/10/kazakhstan-daily-news-roundup-august-10-2010/



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