LLC “Rudomain” (Krivoy Rog, Dnipropetrovsk region), engaged in iron ore mining, reduced iron ore production in Krivoy Rog by 25% from 2022 and production in 2023 was at 50% of capacity.
The company told Interfax-Ukraine that Rudomain continues its operations, but the number of employees has been reduced from 1,250 to 950 due to mobilization in Ukraine. Replenishment of personnel occurs only in cases of extreme necessity, including the integration of women into traditionally male-dominated professions.
It is noted, however, that there has been a marked decline in sales since 2022, resulting in a drop in production of up to 75% compared to the pre-war period. In 2023, the downward trend continues and production is held at 50% of potential maximum production capacity throughout the year, which corresponds to a zero breakeven level.
By markets: Rudomain’s products are sold to countries in the near abroad, mainly in Poland and Slovakia. Historically, sales have been made exclusively by rail, thus avoiding maritime transportation problems.
Plans for 2024: sales are planned to increase based on the use of repair and renovation funds for machinery and technology. Failure to generate these funds in year 23 could be a problem in the next year.
“Actively working on plans to increase automation of manufacturing processes to reduce production costs,” the company’s response states.
And it is noted in terms of the impact of the economic downturn in Europe and the way forward: the general downturn in economic development in Europe is being felt.
“Entering new markets requires a significant increase in the global cost of production to cover logistics costs and unblock seaports. The key factors for improving the investment climate are the end of the war, the return of professionals to their jobs and renewed confidence in the state,” the response summarizes.
Rudomain LLC was registered in May 2010. Its main activity is iron ore mining. According to the company, it is active in Ukraine, the CIS and Europe. Since 2005, it has processed more than 20 million tons of substandard ores from the Krivoy Rog iron ore basin.
As of the end of 2020, two concentrators were up and running. The production capacity of the plant was up to 4 million tons of feedstock per year with Fe min 38%. Production of finished products with Fe content of 50-59% (fraction 0-10 mm) was about 1.5 million tons per year.
According to the Unified State Register of Legal Entities as of September 2021, ARDC Mining Asset Management Holding Ltd (Cyprus) owns 100% of Rudomain LLC. The ultimate beneficiary is a Cypriot citizen Andreou Katia.
Previously, the owner of Rudomain LLC was Fernando Trading Ltd (West Indies) with the ultimate beneficiary being resident individual Anatoly Medvedev.
Anatoly Medvedev, Andreou Katia, ARDC Mining Asset Management Holding Ltd, INTERFAX-UKRAINE, Rudomain
On Thursday, July 30, at 14:00, the press center of the Interfax-Ukraine News Agency will host a press conference entitled “Who Destroyed Ukraine’s Horse Breeding and How to Save the Industry, and Why? The Opinion of the Heads of Horse Breeding Enterprises.” Participants include Director of Oleksandria stud farm of State-owned enterprise Horse Breeding of Ukraine Oleh Rodionov; Director of Dubrovsky stud farm of State-owned enterprise Horse Breeding of Ukraine Vadym Danylevsky; Director of Lozovsky stud farm of State-owned enterprise Horse Breeding of Ukraine Ihor Dubovyk; former Head of Odesa Hippodrome Kostiantyn Savchyts; President of the Anti-Corruption Entrepreneurial front Ihor Yehorov; lawyer Sabina Knysh, as well as other directors of state-owned horse breeding organizations (8/5a Reitarska Street). The press conference will be broadcast on the YouTube channel of Interfax-Ukraine. Admission of journalists requires registration on the spot.
BREEDING, HORSE, INDUSTRY, INTERFAX-UKRAINE, PRESS CONFERENCE
To enter new export markets and check counterparties around the world, Interfax-Ukraine offers products and solutions from Dun & Bradstreet (NYSE: DNB), the world’s leader on the market of information about legal entities. Products of the D&B group (Dun & Bradstreet):
GRS (Global Reference Solution) is a global online corporate directory that helps carry out an express analysis of marketing environment, search for partners and clients, verify addresses. Being available on the Internet, it covers 230 million companies all over the world.
D&B Report – business inquiries of companies (Business Information Report) – obtaining an extending examination of the activities of any company worldwide. Data are received within 3-14 days, depending on the country.
D&B KYC Report (Know Your Customer) – checking companies for being in the black and sanctions lists around the world. With the help of D&B’s capabilities, you and your employees will be able to:
– check foreign partners and counterparties in all countries;
– build corporate relations of companies;
– minimize the risks of payments and contract performance;
– search for potential customers and partners around the world.
D&B’s business valuation ratings are the global benchmark for making decisions on cooperation. At the same time, due to the volume of orders and well-practiced procedure for doing business, D&B services are affordable, while access to information has a convenient interface.
Our solutions can be useful for:
– marketing departments (direct marketing, telemarketing, market research, analysis of competitors, search and evaluation of suppliers of products and services);
– sales departments (forming a client base, searching for reliable contacts);
– procurement departments (evaluation of counterparties and association of suppliers within corporate relationships);
– risk managers (evaluation of the risks of interaction with counterparties, partners and customers);
– financial departments (checking counterparties and preparing reports, including on transfer pricing);
– legal departments (reference information on counterparties);
– security services (accurate and thorough inspection of companies).
Interfax-Ukraine is an authorized partner of D&B (Dun & Bradstreet) in Ukraine.
Maksim Urakin is the project manager.
For consultations, as well as cooperation, please contact Interfax-Ukraine’s commercial department by phone:
+38 (044) 270 6574,
e-mail: urakin@interfax.kiev.ua
www.dnb.ua
To enter new export markets and check counterparties around the world, Interfax-Ukraine offers products and solutions from Dun & Bradstreet (NYSE: DNB), the world’s leader on the market of information about legal entities. Products of the D&B group (Dun & Bradstreet):
GRS (Global Reference Solution) is a global online corporate directory that helps carry out an express analysis of marketing environment, search for partners and clients, verify addresses. Being available on the Internet, it covers 230 million companies all over the world.
D&B Report – business inquiries of companies (Business Information Report) – obtaining an extending examination of the activities of any company worldwide. Data are received within 3-14 days, depending on the country.
D&B KYC Report (Know Your Customer) – checking companies for being in the black and sanctions lists around the world. With the help of D&B’s capabilities, you and your employees will be able to:
– check foreign partners and counterparties in all countries;
– build corporate relations of companies;
– minimize the risks of payments and contract performance;
– search for potential customers and partners around the world.
D&B’s business valuation ratings are the global benchmark for making decisions on cooperation. At the same time, due to the volume of orders and well-practiced procedure for doing business, D&B services are affordable, while access to information has a convenient interface.
Our solutions can be useful for:
– marketing departments (direct marketing, telemarketing, market research, analysis of competitors, search and evaluation of suppliers of products and services);
– sales departments (forming a client base, searching for reliable contacts);
– procurement departments (evaluation of counterparties and association of suppliers within corporate relationships);
– risk managers (evaluation of the risks of interaction with counterparties, partners and customers);
– financial departments (checking counterparties and preparing reports, including on transfer pricing);
– legal departments (reference information on counterparties);
– security services (accurate and thorough inspection of companies).
Interfax-Ukraine is an authorized partner of D&B (Dun & Bradstreet) in Ukraine.
Maksim Urakin is the project manager.
For consultations, as well as cooperation, please contact Interfax-Ukraine’s commercial department by phone:
+38 (044) 270 6574,
e-mail: urakin@interfax.kiev.ua
DUN & BRADSTREET, EXPORT, INTERFAX-UKRAINE, MARKETS, SOLUTIONS
The Kyiv International Economic Forum (KIEF) and the Interfax-Ukraine News Agency announced the launch of a joint information product – an English-language digest called Ukraine. Open4Business. The project is designed to help attract foreign investors to the country, introducing them to the Ukrainian economic agenda. A memorandum of cooperation was signed between the KIEF and Interfax-Ukraine to implement the project.
Starting from July 2017, a new issue of Ukraine. Open4Business in English is published twice a month on the KIEF website. It is also emailed to KIEF participants, leading global and European chambers of commerce and industry, investment banks, mass media, and other key players of the international economic community.
“KIEF’s important mission is to promote international dialogue on burgeoning investment climate in Ukraine. The digest will be one of the tools of such promotion, so we are glad to join forces with the country’s largest news agency,” Yuriy Pyvovarov, CEO of the Kyiv International Economic Forum, said.
Oleksandr Martynenko, Director of the Interfax-Ukraine News Agency, commented: “Interfax-Ukraine produces high-quality, up-to-date, unbiased information products that are necessary for doing business here. Ukraine. Open4Business will be providing exactly such information to foreign investors who have a deficit of information about the points of investment in Ukraine.” From Interfax-Ukraine the project will be supervised by its Deputy Director Maxim Urakin.
According to Urakin, the joint product will become a platform for promoting Ukraine as a profitable market for investors from around the world. The demand for such a product will be analyzed in the course of the project, and, if necessary, other language versions may be added. Launch of the digest comes on the eve of the fourth KIEF, to be held in the capital of Ukraine on October 6-7, 2017.
The keynote of KIEF 2017 will be the challenges of the new economic reality for Ukraine as an integral member of the global community. The forum will feature renowned economists and influential representatives of public and financial sectors, including the governments of Ukraine and other countries, members of the European Commission, top managers of the EBRD and the EIB, owners of companies and CEOs of corporations.
Please, follow the news on the forum’s website and on the official Facebook page. Interfax-Ukraine News Agency has been an information provider on Ukraine’s political and economic information market since 1992. Since then, the agency has earned a reputation of the most reliable and competent supplier of timely and objective information. News reports from Ukraine are available to subscribers in almost every country in the world through the distribution channels of Interfax. Currently, the agency markets more than 50 information products on political, financial and economic subjects in four languages (Ukrainian, Russian, English and German).
Interfax-Ukraine is the official representative and partner of the American international group of companies Dun & Bradstreet (D&B) that supplies commercial, financial and marketing information to enhance its customers’ knowledge of their own customers and to minimize their commercial and credit risks. By uncovering truth and meaning from data, Dun & Bradstreet connects its customers with the prospects, suppliers, clients and partners that matter most. en.interfax.com.ua Kyiv International Economic Forum (KIEF) is a permanently operating venue for the formation of Ukrainian economic development strategy. It is aimed to set up a dialogue between experts, businesses and government, borrowing the best international practices, creating a road map for the development and promotion of the conversion of ideas into real action. www.forumkyiv.org/en
