On the eve of Metallurgist Day, Vladimir Putin arrived on a working trip to the Ural Federal District. The first item on the agenda was a visit to the Magnitogorsk Iron and Steel Works (MMK). Accompanied by Minister of Industry and Trade Anton Alikhanov, Presidential Plenipotentiary Envoy to the Ural Federal District Artem Zhoga, Governor of the Chelyabinsk Region Alexei Teksler, as well as Chairman of the Board of Directors of Magnitogorsk Iron and Steel Works Viktor Rashnikov and MMK General ...

Russian President Vladimir Putin pointed out that gold prices are at an all-time high at a meeting with Yury Chikhanchin, the head of the Federal Financial Monitoring Service or Rosfinmonitoring. "Historic high [for the price of gold]," the Russian leader said in response to Chikhanchin’s assertion that gold prices remain elevated, creating an opportunity to make big profits from buying and selling the precious metal. The Head of state also pointed to the trend of the growing use of gold in ...

Trade turnover between Russia and Saudi Arabia increased by more than 60% in 2024, to exceed $3.8 billion, Industry and Trade Minister Anton Alikhanov announced. "According to the results of last year, the volume of mutual trade increased by more than 60%, exceeding $3.8 billion. In the first quarter of this year, the pace increased even more. We have achieved a fourfold increase in trade turnover compared to the same period last year," he said at the business forum "Industrial Dialogue: Russia-Saudi ...

Production of rare-earth metals (REM) in Russia could increase sevenfold, said Anton Alikhanov, Russian Minister of Industry and Trade at a meeting of the Federation Council Committee on Economic Policy. "We have already developed the basic technologies for separating substances for rare and rare-earth metals. Thanks to large projects with interested investors, we expect to increase our own production of REM sevenfold, reducing dependence on imports to a minimum level," he said. Earlier, Russian ...

Russian steelmakers are proposing to index the cut-off price used to calculate the excise tax on steel, which was set at 30,000 rubles per tonne in 2022, by accumulated inflation over the past four years, Severstal CEO Alexander Shevelev said in an interview with Interfax on the sidelines of the St. Petersburg International Economic Forum. "We have submitted our proposals to the relevant ministries. They are still being discussed. We don't know what the final decision on the excise will be," ...

The temporary ban on exporting precious metal scrap and waste from Russia has been extended for another six months and will remain in effect until November 30, 2025, the government's press service said. The decision will help increase the workload of Russian refining enterprises, it said. For the duration of the restrictions, Russia will not export scrap and waste of precious metals or metals plated with precious metals, as well as other scrap and waste containing precious metals or their compounds. ...

"Russia will increase the production of deficient raw materials, including niobium, tantalum, wolfram, beryllium, within the national project titled New Materials and Chemistry, Prime Minister Mikhail Mishustin stated at the Znaniye (Knowledge) society marathon. "The government devoted a separate national project New Materials and Chemistry to handling this problem. The national project will focus on four areas: chemistry, biotechnologies, composites, and rare metals," he said, adding that "the ...

"On April 28, Uzbekistan hosted the opening of the anniversary edition of the International Trade Fair "INNOPROM. Central Asia". The event, having brought together representatives from 35 countries, including Russia, Uzbekistan, Belarus, Qazaqstan, Kyrgyzstan, Turkmenistan, Azerbaijan, China, Türkiye, the UAE, and Saudi Arabia, is being held at Tashkent’s brand-new business venue — CAEx Uzbekistan," shares Anton Atrashkin, Program Director of "INNOPROM. Central Asia". Over the past five ...

"This [mutual interest of Russian and American companies] is merely the initial stage following a period in which our relations reached their lowest point. Substantial efforts will be required to rectify the situation," Peskov stated. He added that US companies have shown interest in participating in joint projects for the extraction of rare earth metals, but no specific details have emerged thus far. "Some of them [American companies] have expressed interest. There are no specifics at this ...

"This [mutual interest of Russian and American companies] is merely the initial stage following a period in which our relations reached their lowest point. Substantial efforts will be required to rectify the situation," Peskov stated. He added that US companies have shown interest in participating in joint projects for the extraction of rare earth metals, but no specific details have emerged thus far. "Some of them [American companies] have expressed interest. There are no specifics at this ...

By 2030, Russia plans to achieve a rare earth metals production volume of 3,000 tons, which will fully meet the country’s domestic demand for these strategically critical resources. This was reported by “TASS”, citing Konstantin Fedorov, Deputy Director of the Metallurgy and Materials Department at the Ministry of Industry and Trade. According to Fedorov, the projected production volume by 2030 will entirely cover the anticipated needs of the Russian economy. Currently, Russia is forced to import ...

Mikhail Mishustin, Prime Minister of the Russian Federation, on March 26 reported on the government's performance results in 2024 and answered questions asked by deputies. In his speech, Mikhail Mishustin noted that the contribution of the machine-building segment, where production volumes of high-technology products grew by almost 20%. "This is not the first year when the industry demonstrates good dynamics. It gained 4.6% as of the end of 2024. Largely owing to the processing sector, where ...

Denis Manturov, First Deputy Chairman of the Government of the Russian Federation, made a working trip to the Volgograd Region. Accompanied by the Region’s Governor Andrey Bocharov and the Head of Roscosmos, Dmitry Bakanov, he visited several industrial enterprises in the area, according to the press service of the Russian Cabinet of Ministers. During the trip, Denis Manturov and Andrey Bocharov discussed the implementation of key investment projects, particularly the new production facility ...