Metinvest’s Northern and Central GOKs increase net profit in Q1

The net profit of Northern GOK, an iron ore processing subsidiary of Ukrainian-based vertically-integrated group of mining and steel companies Metinvest, increased by 2.9 times in Q1 this year compared to Q1 2010, rising to UAH 1.418 billion ($177.3 million).

Meanwhile, another Metinvest iron ore processing subsidiary, Central GOK, has announced that in the first quarter of the current year its net profit increased by 4.1 times year on year to UAH 573.213 million ($71.6 million).