Press Ñentre

SMR – the biggest Russian ferromolybdenum producer – has announced of its key performance results in 9 months of the year 2009.

· In the first three quarters of 2009 ferromolybdenum output was increased by 15.2% against same period of the previous year and thus reached 4,891 t.

· SMR managed to maintain production rates of other commodities gained in the first half of the year. Molybdenum concentrate production rate was increased by 16.6% against nine months performance rates of 2008 and thus reached 7,726 t.

· Copper concentrate production accounts for 9,655.3 t exceeding the previous year performance by 11.7%.

· Ferromolybdenum sales in nine months of 2009 were increased by 14% compared to the same period of 2008.

Mr. Pavel Krasovskiy, SMR CEO, commented on the performance results in nine months of the current year and pointed out that: “Early this year we started at high production rate and continue to maintain the same level over a three-quarter period. This is a good result. High performance indicators against significant reduction of production costs by more than 30% compared to eight months rates of the previous year provides us strong confidence despite market fluctuations”.

In September SMR registered the highest in its history ferromolybdenum production rate. In September SMR production facilities produced 603.96 t of final product which is the highest performance result since the commissioning of SMR ferromolybdenum plants four years ago. Ferromolybdenum output rate achieved in September 2009 exceeded September 2008 rate by 33.3%.

Apart from increased output rates in 3Q 2009 SMR also registered achieving an important production benchmark accounting for 20K tones of ferromolybdenum. The above production achievement was gained in one and a half years when 10K t were produced by SMR sites.

Currently the production facilities have reached their designed capacities and are able to process 11,300 t of molybdenum concentrate per year. On-site specialists continue their active search of new process solutions, enhancement of molybdenum recovery and mitigation of metal losses on smelting.

 

Company Info:

SMR incorporates a group of companies engaged in minerals exploration, extraction, concentration, processing and production of Ferromolybdenum. SMR Group of Companies is the Russian biggest Molybdenum producer and one of the leading suppliers of Ferromolybdenum in the world market.

The first ferromolybdenum plant in Russia (Zhireken FeMo Plant) was launched by SMR in Transbaikalian Territory back in 2005. One year later SMR commissioned a FeMo plant in Sorsk, Khakas Republic, the Russian Federation. Today Zhireken and Sorsk plants jointly retain a 12.2% share of ferromolybdenum supplies to the world market.