... operational controls which are attested by Internal Audit; however, the Group is now instigating a parallel risk management process and culture at the
Risk management processes and internal controls operate across our steel plants, mines, ancillary service operations, capital projects and administrative functions. Risk management and internal control procedures are embedded within our business practices across function areas including finance, HSE, human resources, procurement, ...
... ore segment revenue of US$659 million (-27% vs. H1 2013)
· Production of iron ore products was 11.3 million tonnes (-4%) on the back of lower output by the Russian operations largely driven by the disposal of high cost operation EVRAZ VGOK and three mines of Evrazruda
· Vanadium segment revenue of US$255 million (-5% vs. H1 2013)
· The vanadium division produced 10,404 tonnes (-4%) of vanadium slag and sold 9,393 tonnes (+5%) of final vanadium products
· Capital expenditure ...
... outstanding working capital facility provided by EVRAZ plc.
The purchaser of the shares, Macrovest, is led by Barend Petersen, a chartered accountant with significant local and global experience. Mr Petersen is the executive chairman of De Beers Consolidated Mines, and a non-executive director of De Beers Group, Ponahalo Group, Anglo American South Africa, Alexander Forbes, Curro Holdings as well as Sizwe Business Recoveries which he founded in 1998. He is also the chairman of the Environment Community Occupational ...
... enrichment plants in the USSR and Europe.
The enterprise’s annual output is approximately 55 million tonnes of iron ore. EVRAZ NTMK is the primary consumer of the enterprise's products.
EVRAZ KGOK currently obtains iron ore from three open pit mines further processing it in crushing, enrichment, sintering and pelletising workshops. Final products (sinter and pellets) are loaded on to railcars and shipped to end consumers including those abroad.
In 2013, EVRAZ KGOK mined more than 56 million ...
... more than 11 million tonnes of coal and produced more than 5 million tonnes of concentrate.
As of 30 September 2013, total proved and probable coal reserves under the JORC Code were estimated at
The Company operates coal mines Alardinskaya, Yesaulskaya, Osinnikovskaya, Uskovskaya, Yerunakovskaya-VIII, two enrichment plants and servicing entities.
The Company supplies its coking coal to most of the leading steel and by-product coke plants in Russia and the CIS. EVRAZ’s ...
... vs. 69% in Q4 2013 due to redistribution of available crude steel volumes towards production of higher margin finished products
• Output of iron ore products in Russia decreased by 2%, impacted by the disposal of EVRAZ VGOK in October 2013 and two mines of Evrazruda in December 2013
• Consolidated raw coking coal output decreased by 6% due to repositioning of longwalls at several underground mines and shutdown of the Abashevskaya mine. This was partially offset by the launch of a new longwall ...
... interest to 81.95% for US$964 million in equity and cash
Acquisition of the 51% stake in Timir iron ore project for a US$159 million cash consideration
Disposal of structurally high costs assets in iron ore and coal mining – EVRAZ VGOK, Abakan and Teya mines of Evrazruda and the Gramoteinskaya steam coal mine for cash consideration of ca.US$20 million
Disposal of EVRAZ Vitkovice Steel based on the enterprise value of US$287 million
Debt and liquidity:
Net debt of US$6,534 million vs. US$6,376 million ...
Consistent with its governance policies, the Group continues to improve the process through which the effectiveness of its internal control system can be regularly reviewed as required by provision C.2.1 of the UK Corporate Governance Code (former Combined Code). The process enables the Board of Directors and the Audit Committee to assess the system of internal controls in place within the Group to manage significant business, operational and financial risks (including social, environmental...
The four principal committees of the Board are the Audit Committee, the Remuneration Committee, the Nominations Committee and the Health, Safety and Environment Committee.
Chairman and Chief Executive
The Board determines the division of responsibilities between the Chairman and the Chief Executive Officer.
The Chairman’s principal responsibility is the effective running of the Board, ensuring that the Board as a whole plays a full and constructive part in ...
... pricing of construction products in September.
Decrease in pig iron and steel production volumes mainly due to scheduled modernisation and repairs at Russian mills, to be reversed in 4Q10.
Coking coal volumes remain depressed due to stoppages at the mines caused by safety inspections and additional security equipment installation following the accident at Raspadskaya. Volumes are expected to return to normalised levels in 4Q10.
As most of the scheduled modernisation projects and safety equipment ...