Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
MOSCOW, Dec 12 (Reuters) – TMK, Russia’s largest maker of steel pipes for the oil and gas industry, sees its steel pipe sales rising to 4.3 million tonnes in 2018 from 3.8 million tonnes this year due to stronger demand, TMK Deputy Chief Executive Vyacheslav Popkov told reporters on Tuesday.
Last year, TMK, controlled by businessman Dmitry Pumpyansky, sold 3.4 million tonnes of its steel pipes.
TMK also said it plans to increase its share in the Russian market of large-diameter pipes slightly from the current 15 percent.
(Reporting by Diana Asonova; writing by Katya Golubkova and Polina Devitt; editing by Jane Merriman)
