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Metals and Mining

Metals and Mining
April 5, 2011
Metinvest GOKs increased production in the 1Q11

The processing plants of Metinvest increased production of iron ore concentrate by 4%, to 8.69 million tones in the 1Q11 in comparison with the same period last year, but at the same time the production of pellets was reduced by 5%, to 2.94 million tones.

Metals and Mining
April 4, 2011
Ferrexpo [FXPO LN, N/R] has placed five-year Eurobonds worth USD 500 mln at 7.875%
Ferrexpo plc., ore mining company with assets in Ukraine, has placed five-year Eurobonds worth USD 500 mln at an annual interest rate of 7.875%.
Metals and Mining
March 28, 2011
Moody’s has assigned a (P)B3 rating to the Ferrexpo’s [FXPO LN, N/R] planned USD 500 mln Eurobond issue
International rating agency Moody's Investors Service has assigned a preliminary rating of (P)B3 to the planned issue of five-year Eurobonds of the ore mining company Ferrexpo plc [FXPO LN, N/R]. The planned volume of the issue is USD 500 mln.
Metals and Mining
March 25, 2011
Alchevskiy ISW [ALMK UK, U/R] increased net revenues by almost 6% in 2010
The Alchevskiy metallurgical plant, which is controlled by the Industrial Union of Donbass, increased its net revenue by 5.7%, to USD 1.34 bln, in 2010, while the gross profit of the company grew by 10%, to USD 1.535 bln.
Metals and Mining
March 14, 2011
Avdiivka Coke [AVDK UK, U/R] published USD 2.7 mln of net loss in 2010

According to the preliminary data, Avdiivka Coke has received a net loss of USD 2.7 mln in 2010.

Metals and Mining
March 11, 2011
Mariupol ISW [MMKI UK, N/R] ended 2010 with a net loss of UAH 418.9 mln

Mariupol ISW, the member of Metinvest Group, according to preliminary data, ended 2010 with a net loss of UAH 418.9 mln, increasing the net loss by 63.7% compared with the previous year.

Metals and Mining
March 3, 2011
Poltava GOK [PGOK UK, U/R] showed 4 times growth in profits in 2010

Poltava mining and processing combine, which is the main asset of Ferrexpo plc (UK), has increased its net profit by 4.2 times in 2010 YoY – up to USD 92 mln. Company’s retained earnings by the end of 2010, which is to be the subject of the agenda of the annual shareholders meeting scheduled on April 22, has amounted of USD 203.3 mln.

Metals and Mining
March 2, 2011
The largest metallurgical plants of Ukraine have increased the total output by 5.9% yoy in January-February 2011

Five out of eight largest metallurgical iron and steel mills of Ukraine have increased the total production output by 5.9% in the first 2 months of 2011 compared with the same period of 2010. Thus, the 3rd largest plant Azovstal [AZST UK] has raised the total output by 4.4%, while Alchevsk Steel [ALMK UK] and MMK Illicha [MMKI UK] increased their output by 25% and 23.8% respectively. At the same time, Ukrainian largest steel mill, ArcelorMittal Krivoy Rog [KSTL UK], reduced the total output in January-February by 8.8% yoy, while production output of Enakievo Steel [ENMZ UK] contracted 12.8% in the same period of 2011 due to the failure of the new oxygen block in its steelmaking workshop.

Metals and Mining
February 17, 2011
ALMK [ALMK UK, HOLD] ended 2010 with a net loss of USD 127.53 mln

The Alchevsk metallurgical plant has announced its preliminary 2010 financial results, revealing a net loss of USD 127.53 mln, which appears worse than its 2009 net loss of USD 111.96 mln.

Metals and Mining
February 7, 2011
Centralnyi GOK raises net profit 5 times

In 2010 Centralnyi GOK [CGOK UK] net profit rocketed 4.9 times YoY to USD 162mln. Current liabilities grew 4.8 times YoY to YSD 314 mln, retained earnings shortened to USD 250 mln. Total assets gained 20% reaching USD 905 mln.

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