Mikhailovsky GOK renews subsurface use license
The department for the use of subsurface resources in the Central Federal District (CenterNedra) extended the license of JSC Mikhailovsky GOK (operating as part of Metalloinvest Holding) to use subsurface resources within a deposit located in Kursk region, Metalloinvest informed.
The license is now valid until December 31, 2034.
JSC Mikhailovsky GOK (mining and processing plant, tax number: 4633001577) is part of Metalloinvest holding.
IFRS net profit of Mikhailovsky GOK for 2013 decreased by 45.9% to RUB 7.4 billion from RUB 13.678 billion in 2012. Revenue decreased by 7.15% to RUB 91.113 billion from RUB 98.125 billion, profit from operations by 45.91% to RUB 8.58 billion from RUB 15.861 billion, pre-tax profit by 28.28% to RUB 12.756 billion from RUB 17.785 billion.
According to AK&M Information Agency's DataCapital information retrieval system, RAS net profit of JSC Mikhailovsky GOK for January-September 2014 decreased 2.11-fold to RUB 9.063 million from RUB 19.141 billion the year before. Revenue decreased by 8.08% to RUB 38.685 billion from RUB 42.084 billion, sales profit by 21.25% to RUB 15.175 billion from RUB 19.269 billion, pre-tax profit by 45.5% to RUB 12.983 billion from RUB 23.822 billion.
