Belon releases H1 2008 production results

Friday, 15 August 2008 10:51:48 (GMT+3)   |  
       

The Russian coal mining company Belon Group (Belon) has issued its production results for the first half of 2008.

According to the company's official release, during the period in question the volume of coking coal and sludge processed at Belon's Belovskaya enrichment plant increased by 20 percent to 2.67 million mt, including the Group's own coal amounting to 1.37 million mt, which exceeds by 38 percent the respective figures of the same period last year.

In addition, during the first half of 2008, Belon recorded a 20 percent increase year on year in its coking coal concentrate output to 1.95 million mt. 

During the period in question, the Belon Group increased its coal deliveries by 21 percent to more than three million, almost doubling its sales to Ruble 7.9 billion (approx. $325 million).

With regard to the future, in 2008 Belon plans to process a total of 6 million mt of raw coal, with the Group's own coal accounting for 3.6 million mt, while coal concentrate production is expected to amount to 4.3 million mt.

In 2008 Belon's investments in its expansion are expected to amount to Ruble 4.55 billion (approx. $184.17 million). Within the first six months of 2008, the company has already invested about Ruble 2.456 billion (approx. $101 million).


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