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Russian copper company released figures

Russian copper company released figures

That year the global cost of the metals is kept to a minimum, however, the profit of RMK grows. A noticeable increase is observed on the background of the devaluation of the RUB. Russian copper company exports about 90% of its copper. To expand by buying up assets the company does not intend to. RMK prefers to increase the production at its mills, in particular, Tamanskom field. Experts consider the possibility of shifting the market balance in favor of the proposal. It is unlikely that the difference will be noticeable, considering that the projects of RMK are small.

RMK occupies the third position among the producers of copper in the R. F. Market the company’s share is 21%. RMK for the first time published the data along with the IFRS. Considered the unaudited preliminary report for 2015. According to them, the consolidated income reached 74,9 bln RUB. EBITDAсоставила RUB 26.3 billion, corresponding to 35% efficiency. Adjusted net profit amounted to 14.1 billion RUBне considering the exchange difference. Last year revenue reached 54 billion RUB. EBITDAдостигала 17.1%, the margin was 32%. Net profit amounted to RUB 10.3 billion. By the end of 2015 the debt RMK reached USD 1,375 bn. Primary creditors are VTB, Gazprombank and Sberbank.

Representatives of the company announced the cause of the growth of production. In 2013 the production volume amounted to 157000 tons. In 2015, the volume of cathode copper has reached 196000 tons. Also the improvement has affected the devaluation of the RUB. The global value of metal tied to the price in dollars on the London stock exchange. As a result, decreased the cost in the development of products up to 2000 USD/ton. The average cost for LMEсоставляла 5500 USD/ton.

In accordance with the presentation exported by the company share is 90%. For the period from 2013 to 2015, income from exports reached 95%. The main buyers of wire rod and cathodes were the middle East, Europe, South Africa. They respectively accounted for 53%, 12%, 16%. Copper concentrate supplied to China in the amount of 70%. Russian exports of copper constitute about 2/3 of the metal. While the annual production reaches more than 900,000 tons. Last year UMMC has exported more than 70% of copper in the formulation of its order of 380,000 tonnes. Norilsk Nickel in 2015 implemented 343000 tons of copper. Exports traditionally accounted for 70−80%.

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