snippets: The Kazakhstan government looks like it will crack down on YDD’s owners. According to Nege.kz the president of Kazakhstan Kassym-Jomart Tokayev, in his message to the people of Kazakhstan, sent a strong signal to the oligarch brothers Nurlan and Erlan Nigmatulin, and actions against them will begin by the end of September, reports Nege.kz.Erlan Nigmatulin transferred T200-million to the Kazakhstan Halkyna fund, and to YDD Corp. (T300-million). However not all of this money belonged to the Nigmatulins.“And people do not forget that at one time the plant received a preferential loan from the state of about T40-billion ($92-million),” according to Nege.kz.
Bhutan is rapidly building ferrosilicon smelters. The five smelters under construction—Green Ferro, Aja Alloys, BMML Ferro Alloys, Om Jigmeling Metallurgy, and Samtse Ferro Alloys—bring the total to nine, including the four FDI factories. Ace Himalayan Ferro Alloys plans to commission and have both furnaces operational by the end of April next year.
High-carbon ferromanganese production at Sakura (100% basis) decreased to 230,000 mt (FY2023: 253,000 mt). High-carbon ferromanganese sales (100% basis) declined 5% to 226,000 mt (FY2023: 237,000 mt). Lower production and sales volumes in FY2024 reflect decreased demand.
OMH Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
