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19 January 2015
JSC Atomredmetzoloto holds dialogues within framework of 2014 Annual Report preparation
The primary objective of the dialogues was to discuss the priority subject of the report entitled Enhancing Efficiency of ARMZ Uranium Holding Co. Business as Key Strategy Line.
The dialogues involved the participation of representatives from Rosatom State Atomic Energy Corporation, JSC Atomredmetzoloto and all companies operated by ARMZ Uranium Holding Co., as well as from state authorities, scientific and research organizations, trade unions and mass media. Connection with the company’s presence regions was established by means of videoconferencing.
This report will become the seventh public document providing information on the company’s performance over the course of the past year. A distinguishing feature of the Report has become a decision to make a special section containing information on the Holding Company’s uranium assets such as JSC Khiagda, JSC Dalur and JSC PIMCU.
An introductory address was delivered by Financial Director of ARMZ Uranium Holding Co. Sergey Migalin, who talked about the results achieved and plans envisaged to ensure efficiency of the Holding Company’s operation. Among main achievements, he mentioned decreasing uranium prime cost by 5% throughout the Holding Company and by 6% at JSC PIMCU and laid emphasis on increasing special uranium output by 10%. Revenues received on foreign markets are rising at rapid rates (engineering and geological exploration). In 2014, revenues received by JSC Rusburmash and JSC VNIPIpromtechnologii grew sixteenfold against 2013. The speaker pointed out that the division is expected to reach break-even operation in terms of consolidated financial result by 2016.
In the first part of the dialogues, a report on JSC PIMCU performance indicators was presented by Sergey Shurygin, JSC PIMCU Director General. He noted that the last year was difficult, but all tasks were accomplished. The report featured the results of the 2014 production programme, key performance indicators for 2015-2016 and main loss minimization projects. A comprehensive efficiency enhancement programme was presented.
The second part of the dialogues involved discussing main outcomes and results of JSC Khiagda activity in 2014, which were reported by Aleksey Dementiev, JSC Khiagda Director General. Chief Geologist Andrey Gladyshev focused on the outlook for the company’s mineral resource base development.
Presentation delivered by Nikolay Poponin, JSC Dalur Director General, was devoted to major production results of the past year. Having given a brief overview of major events in the accounting period, he cited production and research data and showed the company’s development prospects for 2015.
Representatives of stakeholders expressed their suggestions and recommendations with regard to addressing priority subjects in the report. The next, final dialogue in the public consultation format to discuss the draft annual report is suggested to be held in late April.
