In January-March Korshunovsky Mining and Processing Works received 214.1 million rubles of net profit, down 8-fold YoY.
According to the company statement, its net income was 1.7 billion rubles. Revenue dropped 2-fold, to 1.6 billion rubles.
“The dynamics of the revenue and net profit is explained by the drop of iron ore concentrate output and the average price. At the same time the decrease in output has to do with the mining in complex conditions, lower iron content in ore and its higher moisture”, the company reported. (Ukrainian metal)