In Q1 of the current year, Stoilensky Mining and Beneficiation Plant (Stoilensky GOK), a subsidiary of Russian steelmaker NLMK Group, increased its net profit by 2.7 times compared to the same period of last year, to Ruble 4.6 billion ($0.16 billion). In Q1 this year, the company's sales revenues reached Ruble 8.29 billion ($0.295 billion).
In 2011-2014, NLMK plans to invest Ruble 39 billion ($1.39 billion) in Stoilensky GOK for construction of a pelletizing plant with a planned annual capacity of 6 million mt. Construction is scheduled to scheduled to completed in 2014. From 2015, Stoilensky GOK's average annual output of iron ore raw materials will be two million mt of sintering ore, 11 million mt of iron ore concentrate and six million mt of pellets.