Operating results of the Mining Company LLP for the Ist quarter of 2011
03.05.2011The planned uranium production output of the uranium mining enterprises of the Mining Company (GRC) such as Stepnoye-RU LLP, RU-6 LLP and TMCP LLP for 2011 is in full compliance with the production figures specified by the respective contracts.
In the first quarter of 2011 when the total planned production was 724,4 t, the production output of GRC mining enterprises consisted 777,409 t or 107,3% against planned production output.
The increase of actual uranium production by GRC enterprises in the first quarter of 2011 guarantees fulfillment of contractual obligations of GRC LLP before Kazatomprom.
GRC total consolidated income in the 1st quarter of 2011 amounted to 21 bln. 064 mln. 956 ths. tenge, that exceeds the figure of the similar period in the last year by 24,2% (4 bln 104 mln. 342 ths. tenge in money equivalent). The operating income was increased by 25,3% (4 bln. 191 mln. 432 ths.tenge in money equivalent) and amounted to 20 bln. 757 mln. 811 ths. tenge. Net income was increased by 3 bln. 548 mln. 584 ths. tenge and amounted to 8 bln. 463 mln. 964ths. tenge.
Such parameters areprimarily determined byrise of spotprices for uranium products.
From November 2010 till January 2011 the Mining Company LLP took part in the contest “Senim-201” organized by Samruk-Kazyna. The contest results were summed up in March 2011. The Mining Company was recognized as “The Best Employer of the Year in the regions”.
The level of participants’ activities was assessed in 17 nominations. The winner was selected based on the results of examination the materials presented by participants, including work with young professionals in the subsidiaries and survey of employees’ satisfaction level. In addition, the contest organizers conducted a sociological survey in the Kyzemshek, Taukent Villages of South Kazakhstan Oblast and in Shieli Village of Kzylorda Oblast. The survey showed work content satisfaction at 94%, people loyalty - 88% and employees’ company commitment - 84%.
At the initiative of the Coordinating Committee of the European Business Assembly the Mining Company LLP was recommended for granting a certificate of Swiss Institute of Quality Standards «International Quality Sertificate» (SIQS).
At the initiative of the Coordinating Council of the Business Assembly Mining Company LLP was proposed for granting a certificate of Swiss Institute of Quality Standards «International Quality Sertificate» (SIQS).
The Expert Council of the European Business Assembly nominated the Mining Company LLP for competition of the EBA highest award for excellent business reputation and achievements in the field of management.
Reference
Natural uranium concentrate or triuranium octoxide (U3O8) - is an inorganic chemical compound of uranium, referring to the class of oxides. Triuranim octoxideis the feedstock for production of uranium hexafluoride, which is used for manufacturing of fuel pellets in Nuclear Fuel Cycle.
Natural uranium concentrate or triuranium octoxide (U3O8) - is an inorganic chemical compound of uranium, referring to the class of oxides. Triuranim octoxideis the feedstock for production of uranium hexafluoride, which is used for manufacturing of fuel pellets in Nuclear Fuel Cycle.
Mining Company LLP is 100% owned subsidiary company of NAC Kazatomprom JSC. Mining and production of natural uranium and concentrates is its main task. GRC develops the deposits fully owned by Kazatomprom and also controls its shares in the joint ventures in the Southern Kazakhstan, Kyzylorda and Akmolinsk oblasts of the Republic of Kazakhstan.
Pursuant to the contracts for subsoil use, the Company has obligations for financing of social sphere development and maintenance of vital facilities for social and economic purpose in the settlements being established on the basis of uranium mining enterprises.
The number of GRC personnel is about 3,5 ths. persons.
www.grk.kz
www.grk.kz
KAZATOMPROM is a national operator of the Republic of Kazakhstan for import and export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special equipment, technologies and dual-use materials. The Company’s main activities include geological exploration, uranium production, output of nuclear fuel cycle products, construction of reactors and nuclear power plants, non-ferrous metallurgy and production of construction materials, power industry, science, social welfare and personnel training. At present, over 26,000 people are employed by the Company. Kazatomprom is one of the top uranium world producers.
Public Relations
GRC LLP
+7 /727/ 244 62 54
