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IMH 6M 2016 operational results

25 July 2016

Industrial Metallurgical Holding (IMH), the world's largest exporter of merchant pig iron and the leading producer of merchant coke in Russia, reports its operational results for 6M 2016

Key production results:

Production, '000 tonnes
6M 2016 6M 2015   Change, %
Coal 925 1 067 -13%
Coal concentrate 1 249 1 130 10%
Coke (6% moisture content) 1 388 1 390 0%
Iron ore 2 515 2 405 5%
Iron ore concentrate 1 122 1 094 3%
Pig iron, total 1 129 1 058 7%
     Pig iron, basic grades 868 688 26%
     Pig iron, premium grades 262 370 -29%  

In the first half of 2016 production of coking coal at IMH Coal Division totaled 925 kt. that is 13% less compared to the first half of 2015. Reduced production accounts for scheduled lava reinstallation at the “Butovskaya” coking coal mine.

Coking coal concentrate production at Berezovskaya washing plant increased by 10% and summed up to 1.25 mt. due to commissioning of two new jigging machines that have increased the product yield at the plant.

Production of 6% moisture content coke at PAO “Koks” remained at the level of the same period last year and amounted to 1.39 mt.

Iron ore and iron ore concentrate production at KMAruda facilities gained 5% and 3% respectively and totaled 2.52 and 1.12 mt.

Tulachermet produced 1.13 mt. of pig iron in 6M16 that is +7% to 6M15. Out of this amount there were 868 kt. of basic grades (steel-making) pig iron and 262 kt. of premium grades pig iron.

Sergey Frolov, Vice President for Strategy and Communications of IMH commented on Group’s 6M 2016 results:

“IMH is focusing on improving the efficiency throughout its entire chain of production. Berezovskaya washing plant equipment modernization allowed us to increase the production of coal concentrate. Desulphurization unit commissioning and other technological measures resulted in record-high pig iron output in January and May 2016 at Tulachermet.

Furthermore, we have initiated a second wave of the “TPO program” (total production optimization), which has already accounted for additional results in our operating activities. We pay great attention to this activity and consider it to be a very powerful tool to increase the economic efficiency of all our operations.

Today the Group is finishing upgrades of energy sector at Koks plant, that will bring it to full self-sufficiency in power supply. Tulachermet is already self-sufficient in electricity, and sells off the surplus to other IMH production sites in Tula region, fully covering their needs.

We carry on the construction of the underlying horizon on Gubkin iron ore mine and significantly reduced commissioning time of the Tikhova mine first stage and Butovskaya mine second stage. Both queues will be commissioned next year and will greatly enhance our coking coal self-sufficiency. By the end of this year we expect to increase pig iron output by 10% compared to 2015, and production of coal and coal concentrate by 11% and 17% y-o-y respectively”.

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