In January-March of the current year, the net profit of Evraz VGOK (Vysokogorsky Ore Mining and Processing Enterprise), a subsidiary of Russian mining and steel producing company Evraz Group, increased by 6.3 times compared to the same period of 2010, rising to Ruble 261.78 million ($9.45million). Also in Q1, Evraz VGOK's sales revenues increased by 1.7 times reaching Ruble 2.3 billion ($83.1 million).
More than 75 percent of Evraz VGOK's sales revenues were from sales of iron ore raw materials (agglomerate, iron ore concentrate). Sales revenues increased mainly due to rising prices.