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FORMER SOVIET UNION

LONDON CLOSINGS

Gold closes 2008 in London at $865, up nearly 3 percent on the year

Wednesday , 31 Dec 2008
Despite some year end profit taking, gold remains one of the few commodities of any kind which has ended the year higher than it started it. Silver has not performed so well.

COMPLEX RESHUFFLING

Wheels within wheels - mining and metals asset juggling in Moscow

Monday , 29 Dec 2008
Russian business paper Vedomosti reports some complex possible share reshuffling involving three billionaire oligarchs in debt repayment exercises.

KEY SECTOR

Russia considers merging major potash and phosphate companies

Friday , 26 Dec 2008
Uralkali, Silvinit and Apatit may be pushed into a state run merger.

ALMOST HALVED FROM FORMER PLANS

Russia's largest zinc producer slashes 2009 production forecast

Wednesday , 24 Dec 2008
Russia's Chelyabinsk Zinc cuts 2009 zinc output forecast to 100,000-110,000 t after nine month loss of Roubles 1,093 million ($38.58 million)

CASHFLOW CONCERNS

Market downgrades Evraz on plans to conserve cash

Thursday , 18 Dec 2008
Evraz shares fall 6.4 percent in London as it announces shareholders can receive part of div in new shares.

EURO 40 MILLION ORDER

Major Norilsk Nickel expansion project gets Metso mills

Monday , 15 Dec 2008
Finnish manufacturing company is to supply key equipment to Norilsk Nickel to help expand the company's Talnakh nickel/copper concentrator which will raise capacity by over 60 percent

23 CANDIDATES FOR NEW 13 PERSON BOARD

World No. 1 nickel, palladium miner to cut output of both metals this year and next

Tuesday , 02 Dec 2008
Norilsk Nickel will reduce production of its nickel and palladium output 2008, 2009 and cut capital programmes as it aims to conserve costs in the current financial climate.

TWO CANDIDATES PUT FORWARD

Russian state bank VEB nominates Kremlin deal broker for Norilsk Nickel Board

Friday , 28 Nov 2008
VEB, which helped bail out UC Rusal, a 25 percent shareholder in Norilsk Nickel has nominated Alexander Voloshin, known as a powerful Kremlin deal broker, to serve on the Norilsk Board.

DEMAND FOR NUCLEAR POWER

Kazakhstan and Russia boost uranium output

Thursday , 27 Nov 2008
Russia and Kazakhstan will boost their uranium output next year as both countries expect demand for nuclear power to remain high.

NO NORILSK-RUSAL MERGER TALK FOR 3 YEARS

Potanin, Deripaska to step down from Norilsk board as truce may be in prospect

Tuesday , 25 Nov 2008
Vladimir Potanin and Oleg Deripaska will step down from Norilsk Nickel’s board of directors at the next election, hoping that an independent chairman can resolve their long-running conflict.

ECONOMIC CRISIS RESPONSE

Uralkali to halve potash production in Nov and Dec this year

Thursday , 20 Nov 2008
Even the previously high flying potash sector is suffering as Russia’s Uralkali cuts output which will cost it $650 million in lost revenues, while outlook for 2009 production is unclear.

DEADLINES MOVED

UC Rusal defers Prokhorov Norilsk payment again

Monday , 17 Nov 2008
Oleg Deripaska’s UC Rusal is reported to be deferring again its next $700 million payment tranche to Mikhail Prokhorov for its 25 percent stake in Norilsk Nickel.

COULD EXPAND KHARASAN

While South Africa falters Uranium One says ops in Kazakhstan will lead to dividends

Friday , 14 Nov 2008
CEO Jean Nortier says there are no issues in Kazakhstan that could hinder the payment of dividends although the company is dealing with limited sulphuric acid supply in the country which is currntly affecting production levels.

DAMAGES COULD CRIPPLE COMPANY

Potash miner Uralkali’s future at risk from flood probe

Monday , 10 Nov 2008
Uralkali says its future is at risk if it must pay “enormous” damages for a flood in 2006.

FINANCE AGREEMENTS BREACHES

Canadian/Russian gold miner High River continued existence in jeopardy

Saturday , 01 Nov 2008
Canada's High River Gold, with principal operations in Russia and Burkina Faso says it is in breach of certain financing agreements and as a result its whole future is in jeopardy.

STATE STING?

Rusal/Deripaska bailout, and others, seen as possible Kremlin trap

Friday , 31 Oct 2008
The Russian state bank VEB has been bailing out the oligarchs – but at what price?

GLOBAL CREDIT CRISIS IMPACT

Potash market downturn has Uralkali cutting output

Thursday , 30 Oct 2008
Major Russian potash miner Uralkali is to cut this year's output by 500,000 tonnes due to what its says are adverse current market conditions.

OTHERS BAILED OUT TOO?

Kremlin bails out Deripaska and UC Rusal over Norilsk Nickel stake

Wednesday , 29 Oct 2008
Kremlin didn't want Norilsk stake to fall into foreign hands. State bank agrees $4.5 bn financing for Rusal.

NORILSK WARS

Another Deripaska skirmish victory as court halts Norilsk buyback programme

Tuesday , 28 Oct 2008
A Siberian Court has frozen the big share buyback planned by Norilsk Nickel at a substantial premium to the current share price in a case brough by mining rival, Oleg Deripaska's UC Rusal.

STAKE VALUE DECLINES TO $230M

Norilsk interested in selling 55.4% Stillwater Mining stake

Monday , 27 Oct 2008
The CFO of Russia's Norilsk Nickel said the company is open to receive offers for its majority stake in Stillwater Mining.

COKING COAL PRICES CUT

Mechel preferred share issue revival plan

Friday , 24 Oct 2008
Russian coal mining and steel company, Mechel, is to re-introduce its plan to revive a preferred share issue which had been shelved in August after verbal attacks by Russian Prime Minister Vladimir Putin.

SMELTERS RELUCTANT TO CUT OUTPUT

Global aluminium surpluses ahead despite Chinese output cuts

Thursday , 23 Oct 2008
Aluminium surpluses are set to grow as smelters outside China are reluctant to cut output.

CASH LIQUIDITY

We do have enough cash after Dominion doom - Uranium One

Thursday , 23 Oct 2008
CEO Jean Nortier says the company has sufficient cash to see through its projects in the US and Kazakhstan. They are yet to announce the group's cash burn rate.

KOLA REFINERY IN APPROVAL STAGE

Norilsk revives plans for cobalt refinery

Wednesday , 22 Oct 2008
Norilsk Nickel has revived plans for a high-purity cobalt refinery on the Kola Peninsula of Russia.

GOLD OUTPUT TO INCREASE

Polymetal cuts 2008 silver forecast to between 16.5m and 17m ounces

Monday , 20 Oct 2008
The drop in silver prices has convinced Russia’s largest silver miner, Polymetal, to cut its production this year, along with revising its proposed capital expenditures for 2009.

TEST OF GOVERNANCE

Mining and metals oligarch Prokhorov may be sued over failed power deal

Friday , 17 Oct 2008
Withdrawal of Mikhail Prokhorov’s Onexim holding company from a proposed share buyout of power generator TGK-4 may lead to suits from investors both in Russia and in other jurisdictions.

WORLD CLASS HYDROCARBON DEPOSIT

TNK-BP starts production at new Siberian oilfield

Wednesday , 15 Oct 2008
After months of ownership wrangles, TNK-BP has started up its new Verkhnechonsk oilfield with first deliveries into Transnet’s new Asian pipeline.

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