RCC Group's revenue increases by 6% in 2017
The company reports its financial performance in 2017 in accordance with the Russian Accounting Standards
The revenue of the Russian Copper Company Group in 2017 amounted to almost 130 billion rubles, which is 6% more than in 2016. The net income for the reporting period remained at the level of 2016 and totaled 16.2 billion rubles.
In 2017 the Russian Copper Company's enterprises produced a total of over 183,000 tonnes of copper cathodes and 104,000 tonnes of copper rods. The year-on-year increase in terms of production of copper cathodes and copper rods amounted to 3% and 4% respectively. During the reporting period copper concentrate production decreased by 4% and amounted to 146,900 tonnes, while the production of zinc concentrate added 28% and reached 68,700 tonnes. Besides, in 2017 production of gold and silver (in bullions) increased by 27% and 4% respectively. In 2017 RCC Group produced 4 tons of gold and over 76 tonnes of silver.
The Russian Copper Company (RCC) is a vertically integrated holding company specializing in copper ore mining and enrichment. It also produces and sells copper products and precious metals in bullions.
The Russian Copper Company was founded in 2004. The company comprises 13 enterprises in the Novgorod Region, the Orenburg Region, the Sverdlovsk Region and the Chelyabinsk Region in Russia, and in the Aktobe Region in the Republic of Kazakhstan. These enterprises include three metallurgical plants, a hydro-metallurgical plant, eight mining enterprises and a trading company.
RCC holds 22 licenses for mining and production of mineral resources in Russia and Kazakhstan. As of January 1, 2018, JORC proved copper reserves amounted to 3.423 million tonnes (2P reserves totaled 6.797 million tonnes).
RCC's production facilities are able to produce up to 200,000 tonnes of copper cathodes and up to 190,000 tonnes of copper rods per year.