Base Metals

Bloomberg reported OAO Magnitogorsk Iron & Steel (RTC:MAGN) formed a mining unit in Luxembourg, called MMK-Mining Assets Management SA.

Bloomberg reported OAO Magnitogorsk Iron & Steel (RTC:MAGN) formed a mining unit in Luxembourg, called MMK-Mining Assets Management SA.

The market news is quoted as saying,

The decision follows similar moves by rivals OAO Severstal and OAO Mechel (MTLR) and lays the groundwork for a possible initial public offering in two to three years, Dmitry Smolin, an analyst at UralSib Capital in Moscow, said today by telephone.

For the complete market news, click here.

Featured

MARKETS

Markets
TSX20197.61+15.69
TSXV702.09-3.49
DOW31261.90+8.77
S&P 5003901.36+0.57
NASD11354.62-33.88
ASX7145.60+81.10

COMMODITIES

Commodities
Gold1846.70+0.30
Silver21.76+0.04
Copper4.30+0.03
Palladium1968.65+11.53
Platinum957.67+3.19
Oil110.09-0.19
Heating Oil3.61-0.01
Natural Gas8.06-0.03

DOWNLOAD FREE REPORTS

×