In 2016 Pobuzhye Ferronickel Plant intends to receive 69.51 million UAH of profits as opposed to 244.2 million UAH of losses in 2015, if the UAH exchange rate and resources prices remain on their current levels.
“Since April we’ve been working with profits”, said the company CEO Oleg Bespalov.
In H1 the company received 49.41 million UAH of profits, even though it lost some 39 million due to the exchange rate differences. PFK was also busy repairing its furnaces (44.18 million UAH).
“I believe it is a correct thing to repair equipment when the prices fall, and start producing and selling when they go up. We decided to repair, when the nickel prices dropped to $7500 per ton”, Bespalov added.
Ore processing in H1 decreased by 0.3% YoY, to 704.2 thousand tons, which corresponds to 39.7 thousand tons of ferronickel (down by 19.8%) or 8.8 thousand tons of nickel (up by 0.3%).
“This year we plan to process 1.56 million tons of ore and produce 19.3 thousand tons of nickel, up by 7.7% and 7.5% YoY respectively”, said PFK CEO. (Ukrainian metal)