Karabashmed's earnings are up almost 50%

21.09.2012 — News

CHELYABINSK REGION.

Revenues at Karabashmed, CJSC (a subsidiary of Russian Copper Company) rose 46.5% over the 2011-2012 financial year.  The company was one of the top ten fastest-growing companies in the Chelyabinsk region. RCC's press office told RusBusinessNews that in 2011 the manufacture of blister copper increased to 80,000 tons, up 20% in comparison with the previous year.  Gold production grew by 6%, to 2.6 tons, and over 70 tons of silver was made - a jump of 26%.

Long-term investment programs helped to further this surging momentum.  Between 2012 and 2016, Russian Copper Company intends to invest about eight billion rubles in Karabashmed in order to expand production and reduce the impact of the plant's operations on the environment. One of the firm's priorities is the construction of a second sulfuric-acid facility - once that is operational, the productivity of the plant's Ausmelt copper-smelting furnace will increase to 120,000 tons of blister copper per year.  This rise in production will mean a 26% increase in the company's workforce between 2010 and 2015.

Karabashmed also contributed about 500 million rubles to various levels of government coffers in the first six months of 2012.  The company expects to owe about 162 million rubles in income tax this year, of which about 145 million rubles will go to the local treasury.