19th Aug 2009 07:01
19 August 2009
Eurasian Natural Resources Corporation PLC
Production Report for the Second Quarter Ended 30 June 2009
London - Eurasian Natural Resources Corporation PLC ('ENRC' or, together with its subsidiaries, the 'Group'), the holding company of a leading diversified natural resources group principally based in Kazakhstan, today announces its Production Report for the Second Quarter ended 30 June 2009.
Overall Group production volumes in the quarter ended 30 June 2009 improved on the levels of Q1 2009. Production volumes in the Ferroalloys and Iron Ore Divisions increased substantially compared to Q1 2009, whilst in the Alumina and Aluminium Division production volumes were sustained at existing capacity levels. Ore grades remained broadly consistent in all products. In the Energy Division, electricity generation was steady but internal sales increased significantly on Q1 2009. Coal production volumes reduced, mainly due to lower external demand. Logistics volumes saw a small increase compared to Q1 2009.
Ferroalloys Division (excluding Serov and Tuoli). Production volumes remained below the comparable period of 2008. The decrease in production in Q2 2009 versus Q2 2008 was:
(17.2)% for saleable chrome ore;
(29.2)% for saleable manganese concentrate; and
(17.9)% for total ferroalloys, with silicomanganese production broadly steady.
Ferrochrome production decreased (10.6)% compared to Q2 2008, reflecting previously announced production cutbacks for the Division, but increased 35.8% from Q1 2009. Serov added saleable chrome ore production of 11 kt and total ferroalloys production of 25 kt. Tuoli's output was minimal in Q2 2009, with one furnace restarted at the end of June.
Iron Ore Division. Production volumes decreased compared to Q2 2008, reflecting the previously announced production cutbacks for the Division:
(22.0)% for iron ore extraction;
(19.7)% for primary concentrate; and
(17.6)% for saleable ore.
In Q2 2009, compared to Q2 2008, there was a change in the saleable mix with an increased proportion of saleable concentrate. Pellet production declined (36.5)% whilst saleable concentrate production was broadly steady. Against Q1 2009, pellet production increased 63.5% and saleable concentrate production rose 22.0%.
Alumina and Aluminium Division. Bauxite extraction and production volumes of saleable alumina remained stable, with an increase of 0.3% compared to Q2 2008. The Division produced 30 kt of aluminium, in line with the Phase 1 run rate capacity.
Energy Division. Coal production volumes decreased (6.6)% compared to Q2 2008, in response to a milder winter. Electricity generation increased 17.5% compared to Q2 2008, reflecting increased available capacity. Internal sales rose 29.4% against Q1 2009 to support higher production levels, with overall generation broadly steady.
Logistics Division. The tonnage of goods transported by railway decreased (10.7)% versus the comparable period in 2008, as a result of reduced activity in the principal operating Divisions; volumes rose 4.2% against Q1 2009.
Dr Johannes Sittard, Chief Executive Officer, said, "We are particularly pleased to report for Q2 2009 increased production in the Ferroalloys and Iron Ore Divisions. This continued the trends experienced since the beginning of the year and reflected better than expected sales volumes. We continue to closely monitor production levels and the demand outlook and remain focused on the control of inventory."
For further information, please contact:
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ENRC: Investor Relations
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Mounissa Chodieva
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+44 (0) 20 7389 1879
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James S Johnson
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+44 (0) 20 7389 1862
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Marianna Adams
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+44 (0) 20 7389 1886
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ENRC: Press Relations
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Julia Kalcheva
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+44 (0) 20 7389 1861
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M: Communications
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Hugh Morrison
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+44 (0) 20 7153 1534
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Edward Orlebar
Elly Williamson
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+44 (0) 20 7153 1523
+44 (0) 20 7153 1539
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The information set out in this Production Report, unless stated otherwise, relates to the three months ended 30 June 2009, and is compared to the corresponding three months ended 30 June 2008. Production volumes for Q1 2009 and Q2 2008 are provided for information only. Within the Ferroalloys Division production volumes, unless otherwise stated, exclude Serov, which was incorporated by the Group from 4 April 2008, and Tuoli, which was acquired on 15 October 2008. All references to 't' in the Production Report are to metric tonnes unless otherwise stated and all references to 'kt' in the Production Report are to thousand metric tonnes unless otherwise stated.
About ENRC
ENRC is a leading diversified natural resources group, performing integrated mining, processing, energy, logistics and marketing operations. The operations comprise: the mining and processing of chrome, manganese and iron ore; the smelting of ferroalloys; the production of iron ore pellets; the mining and processing of bauxite for the extraction of alumina and the production of aluminium; coal extraction and electricity generation; and the transportation and sales of the Group's products. The Group's production assets are largely located in the Republic of Kazakhstan. The Group's entities, in the period, employed approximately 64,160 (2008: 67,450) people, including about 3,000 added in H1 2008 with the acquisition of Serov and a further 600 with Tuoli in H2 2008. In 2008, the Group accounted for approximately 5% of Kazakhstan's GDP. The Group currently sells the majority of its products to Russia, China, Japan, Western Europe and the United States. For the half-year ended 30 June 2009, the Group had revenue of US$1,695 million (2008: US$3,442 million) and profit attributable to equity shareholders of the Group of US$553 million (2008: US$1,343 million).
Forward looking statement
This announcement includes forward-looking statements that reflect the current views of the management of the Group with respect to future events. These forward-looking statements include matters that are not historical facts or are statements regarding the Group's intentions, beliefs or current expectations concerning, among other things, the Group's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Group operates. Forward-looking statements are based on current plans, estimates and projections, and therefore too much reliance should not be placed upon them. Such statements are subject to risks and uncertainties, most of which are difficult to predict and generally beyond the Group's control. The Group cautions you that forward-looking statements are not guarantees of future performance and that if risks and uncertainties materialise, or if the assumptions underlying any of these statements prove incorrect, the Group's actual results of operations, financial condition and liquidity and the development of the industry in which the Group operates may materially differ from those made in, or suggested by, the forward-looking statements contained in this announcement. In addition, even if the Group's results of operations, financial condition and liquidity and the development of the industry in which the Group operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in future periods. The Group does not undertake any obligation to review or confirm analysts, expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this announcement.
FERROALLOYS DIVISION
Ore Mining and Processing - Excluding Serov and Tuoli
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Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
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Chrome ore |
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Ore extraction (Run of Mine, 'RoM') |
000' t |
1,070 |
1,062 |
0.8% |
834 |
28.3% |
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Processing of low grade stockpiles |
000' t |
0 |
436 |
NA |
0 |
NA |
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Saleable ore production |
000' t |
811 |
980 |
(17.2)% |
618 |
31.2% |
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Internal consumption of saleable ore |
000' t |
549 |
647 |
(15.1)% |
389 |
41.1% |
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- percentage |
67.7% |
66.0% |
62.9% |
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Manganese ore |
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Ore extraction (RoM) |
000' t |
642 |
696 |
(7.8)% |
323 |
98.8% |
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Processing of low grade stockpiles |
000' t |
201 |
339 |
(40.7)% |
169 |
18.9% |
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Saleable concentrate production |
000' t |
247 |
349 |
(29.2)% |
81 |
204.9% |
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Internal consumption of saleable concentrate |
000' t |
80 |
80 |
0.0% |
79 |
1.3% |
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- percentage |
32.4% |
22.9% |
97.5% |
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Iron-Manganese ore |
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Ore extraction (RoM) |
000' t |
13 |
80 |
(83.8)% |
40 |
(67.5)% |
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Processing of low grade stockpiles |
000' t |
12 |
176 |
(93.2)% |
0 |
NA |
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Saleable concentrate production |
000' t |
12 |
151 |
(92.1)% |
0 |
NA |
In Q2 2009 production in the Ferroalloys Division (excluding Serov and Tuoli) remained below the levels of the comparable period, reflecting production cutbacks initiated in Q4 2008 in response to significantly reduced customer demand and in an effort to avoid inventory build up.
Chrome ore extraction amounted to 1,070 kt (Q1 2009: 834 kt), an increase of 0.8% from the comparable quarter, and an increase of 236 kt, or 28.3%, compared to Q1 2009. Chrome ore extraction increased as all available low grade ore stocks were processed during 2008. The Division produced 811 kt of saleable chrome ore, a decrease of (17.2)% compared to Q2 2008, but an increase of 31.2% relative to the preceding quarter. Of the saleable chrome ore produced, 549 kt, representing 67.7% (Q2 2008: 66.0%), was consumed internally to produce chrome ferroalloys.
A second 700 kt per annum chrome ore pelletiser was successfully commissioned on schedule at Donskoy GOK at the beginning of July 2009.
Reflecting similar external market factors, manganese ore extraction decreased 54 kt, or (7.8)%, to 642 kt (Q2 2008: 696 kt), but increased 319 kt, or 98.8%, relative to Q1 2009. Processing of low grade stocks decreased (40.7)% to 201 kt (Q2 2008: 339 kt). Total manganese concentrate production decreased (29.2)% to 247 kt (Q2 2008: 349 kt). However, production increased three times compared to Q1 2009 in response to recovering demand. Production at Zhairemsky GOK, which mainly sells concentrates to export markets, decreased (44.9)% to 123 kt, but increased approximately two times compared to Q1 2009. Production of 124 kt at Kazmarganets GOK, which supplies manganese concentrates to the Aksu ferroalloys plant of TNC Kazchrome JSC for use in silico-manganese production, was the same as in Q2 2008. The proportion of total manganese concentrate production consumed internally increased to 32.4% (Q2 2008: 22.9%). Production of saleable iron-manganese concentrate resumed in the quarter, but remained lower than in the comparable period of 2008 due to very weak demand.
Ore Mining and Processing - Including Serov from Q2 2008 and Tuoli from Q4 2008
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Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
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Chrome ore |
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Ore extraction (RoM) |
000' t |
1,088 |
1,116 |
(2.5)% |
843 |
29.1% |
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Processing of low grade stockpiles |
000' t |
0 |
436 |
NA |
0 |
NA |
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Saleable ore production |
000' t |
823 |
1,014 |
(18.8)% |
623 |
32.1% |
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Internal consumption of saleable ore |
000' t |
581 |
760 |
(23.6)% |
410 |
41.7% |
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- percentage |
70.6% |
75.0% |
65.8% |
Serov did not have a significant impact on the volume of ore extracted by the Ferroalloys Division in Q2 2009. Serov's ore extraction in Q2 2009 was 18 kt (Q2 2008: 54 kt) and saleable ore production was 11 kt (Q2 2008: 34 kt). Ore extraction was 100.0% higher than in Q1 2009 (see Note 3 below).
Saleable ore production decreased (18.8)%, of which 16.5 percentage points was attributable to Kazchrome. Despite the inclusion of Serov there was a decrease in internal consumption of 179 kt, or (23.6)%. The overall proportion of ore consumed internally from total saleable ore production decreased to 70.6% (Q2 2008: 75.0%).
Ferroalloys Production - Excluding Serov and Tuoli
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Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
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Ferrochrome |
000' t |
262 |
293 |
(10.6)% |
193 |
35.8% |
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- High-carbon |
000' t |
255 |
273 |
(6.6)% |
188 |
35.6% |
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- Medium-carbon |
000' t |
3 |
12 |
(75.0)% |
3 |
0.0% |
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- Low-carbon |
000' t |
3 |
9 |
(66.7)% |
2 |
50.0% |
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Ferrosilicochrome |
000' t |
2 |
34 |
(94.1)% |
4 |
(50.0)% |
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Silico-manganese |
000' t |
38 |
38 |
0.0% |
37 |
2.7% |
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Ferro-silicon |
000' t |
5 |
8 |
(37.5)% |
0 |
NA |
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Total ferroalloys |
000' t |
307 |
374 |
(17.9)% |
234 |
31.2% |
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Internal consumption of ferroalloys |
000' t |
53 |
45 |
17.8% |
40 |
32.5% |
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- percentage |
17.3% |
12.0% |
17.1% |
Note: table may not sum precisely due to roundings.
In Q2 2009, the Ferroalloys Division (excluding Serov and Tuoli) produced 307 kt of ferroalloys, a decrease of (17.9)% compared to 2008. Within this the Division produced 262 kt of ferrochrome, a decrease of (10.6)% compared to Q2 2008 but an increase of 35.8% against Q1 2009. High-carbon ferrochrome production decreased (6.6)% compared to Q2 2008, but increased 35.6% versus Q1 2009. Internal consumption of ferroalloys increased 8 kt, or 17.8%, compared to Q2 2008, whilst the rate of internal consumption of total ferroalloys production rose to 17.3% (Q2 2008: 12.0%). Internal consumption increased mainly due to the re-melting of high carbon ferrochrome fines carried out at the smelters during H1 2009.
The Group continued the production cutbacks initiated in Q4 2008 to satisfy market demand (at the beginning of Q4 2008 the Group announced a cutback of 35%, based on 2007 sales volumes, and a cutback of 30% at the beginning of Q1 2009). In Q2 2009 ferrochrome production was approximately 10% below that of Q2 2008. There was a change in the production mix of specific alloys. High-carbon ferrochrome production increased 67 kt relative to Q1 2009, the production of ferro-silicon was re-started, whilst the production of ferrosilicochrome halved compared to Q1 2009. The production of medium- and low-carbon ferrochrome was in line with production volumes in Q1 2009. The cutbacks in production of these products followed a significant slowdown in the engineering and alloy steel markets in H1 2009, notably in Japan and Russia.
Ferroalloys Production - Including Serov from Q2 2008 and Tuoli from Q4 2008
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Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
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Ferrochrome |
000' t |
275 |
340 |
(19.1)% |
203 |
35.5% |
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- High-carbon |
000' t |
257 |
296 |
(13.2)% |
190 |
35.3% |
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- Medium-carbon |
000' t |
3 |
20 |
(85.0)% |
3 |
0.0% |
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- Low-carbon |
000' t |
14 |
24 |
(41.7)% |
10 |
40.0% |
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Ferrosilicochrome |
000' t |
12 |
49 |
(75.5)% |
10 |
20.0% |
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Silico-manganese |
000' t |
38 |
38 |
0.0% |
37 |
2.7% |
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Ferro-silicon |
000' t |
7 |
16 |
(56.3)% |
2 |
250.0% |
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Total ferroalloys |
000' t |
332 |
443 |
(25.1)% |
253 |
31.2% |
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Internal consumption of ferroalloys |
000' t |
64 |
67 |
(4.5)% |
48 |
33.3% |
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- percentage |
19.3% |
15.1% |
19.0% |
Note: table may not sum precisely due to roundings.
The acquisition of Serov added significantly to the Division's production capacity, especially in low- and medium-carbon ferrochrome and ferro-silicon. However, Serov did not add significant production volumes to the Group in Q2 2009 as production was cut back by approximately 64% compared to Q2 2008 reflecting market conditions. Serov added 25 kt to total ferroalloys production in Q2 2009, with production some 31.6% higher than in Q1 2009 (see Note 3 below).
Tuoli, which was acquired early in Q4 2008, also added capacity to the Group, of approximately 90 kt of high-carbon ferrochrome (equivalent to a capacity of 120 thousand Chinese base tonnes). However, output was cut back in response to external market conditions in Q4 2008 and production was suspended completely in Q1 2009 reflecting the relatively higher cost position of Tuoli's operations within the Group. At the end of June 2009 production at one of the four furnaces was restarted, although production in the period was minimal.
In Q2 2009, the Ferroalloys Division produced 332 kt of ferroalloys, a decrease of (25.1)% compared to Q2 2008. Of this, a decline of 15.2 percentage points was attributable to Kazchrome.
IRON ORE DIVISION
|
Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
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Ore extraction (RoM) |
000' t |
8,367 |
10,722 |
(22.0)% |
6,617 |
26.4% |
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Primary concentrate production |
000' t |
3,596 |
4,479 |
(19.7)% |
2,657 |
35.3% |
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Saleable concentrate production |
000' t |
2,238 |
2,260 |
(1.0)% |
1,834 |
22.0% |
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Saleable pellet production |
000' t |
1,259 |
1,984 |
(36.5)% |
770 |
63.5% |
In Q2 2009, the Iron Ore Division extracted 8,367 kt of iron ore, a decrease of (22.0)%, reflecting production cutbacks in response to the reduced iron ore demand and sales from Q4 2008. Ore extraction rose in Q2 2009 against Q1 2009 by 1,750 kt, or 26.4%, in response to the recent further improvement in sales. The Group managed production changes in line with market demand, which in Q2 2009 resulted in a production cutback of about 20% to primary iron ore concentrate (versus run rate capacity). (At the beginning of Q4 2008 the Group announced a cutback of 50%, based on 2007 sales volumes, 40% at the beginning of Q1 2009 and 35% at the beginning of Q2 2009). The Division produced 3,596 kt of primary concentrate, a decrease of (19.7)% compared to Q2 2008, but an increase of 939 kt, or 35.3%, compared to Q1 2009.
In Q2 2009 saleable concentrate production (with an iron content of 65.9%) increased 22.0% compared to Q1 2009 and was broadly at the same level as production in Q2 2008 (2,260 kt).
Pellet production (with an iron content of 63.6%) increased 63.5% in Q2 2009 against Q1 2009 to 1,259 kt (Q1 2009: 770 kt) and decreased (36.5)% versus the comparable period (Q2 2008: 1,984 kt). In Q2 2008 pellet production capacity was adversely affected by the planned reconstruction of one pelletising unit; in Q2 2009 the reduction in pellet production reflected the decline in market demand.
ALUMINA AND ALUMINIUM DIVISION
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Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
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Bauxite extraction (RoM) |
000' t |
1,307 |
1,310 |
(0.2)% |
1,175 |
11.2% |
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Alumina production |
000' t |
399 |
398 |
0.3% |
395 |
1.0% |
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Internal consumption of alumina |
000' t |
59 |
56 |
5.4% |
59 |
0.0% |
|
- percentage |
14.8% |
14.1% |
14.9% |
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Aluminium production |
000' t |
30 |
27 |
11.1% |
31 |
(3.2)% |
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Gallium production |
kilogrammes |
4,722 |
4,852 |
(2.7)% |
4,302 |
9.8% |
Alumina and Aluminium Division production remained largely unaffected by weaker market conditions, largely due to the long-term contract and continued strength of the business with the Division's principal customer. In Q2 2009, the Alumina and Aluminium Division extracted 1,307 kt of bauxite, a decrease of (0.2)%. Alumina production from bauxite was steady on Q2 2008.
Production commenced at the aluminium smelter during Q4 2007 and reached the Phase 1 run rate capacity of 125 kt per annum in Q2 2008. Internal consumption of alumina amounted to 59 kt in Q2 2009, representing 14.8% (Q2 2008: 14.1%) of total alumina production.
Primary aluminium production in Q2 2009 was 30 kt, broadly the same as in Q4 2008 and Q1 2009, with the smelter working at its full Phase 1 run rate capacity.
Gallium production in Q1 2009 was 4,722 kilogrammes, a (2.7)% decrease.
ENERGY DIVISION
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Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
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Coal extraction (RoM) |
000' t |
4,144 |
4,436 |
(6.6)% |
5,284 |
(21.6)% |
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Energy Division consumption of coal |
000' t |
2,045 |
1,733 |
18.0% |
2,087 |
(2.0)% |
|
- percentage |
49.3% |
39.1% |
39.5% |
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Sales of coal to other Group Divisions |
000' t |
985 |
1,020 |
(3.4)% |
1,260 |
(21.8)% |
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- percentage |
23.8% |
23.0% |
23.8% |
|||
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Electricity generation |
GWh |
3,318 |
2,825 |
17.5% |
3,390 |
(2.1)% |
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Sales of electricity to other Group Divisions |
GWh |
1,907 |
2,129 |
(10.4)% |
1,474 |
29.4% |
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- percentage |
57.5% |
75.4% |
43.5% |
In Q2 2009, the Energy Division extracted 4,144 kt of coal from the Vostochny mine, a decrease of (6.6)% compared to Q2 2008. The 292 kt reduction in coal extraction was predominantly due to reduced third party sales and a milder winter in Russia and Kazakhstan.
Electricity generation in the period was 3,318 GWh, an increase of 17.5%. In Q2 2008 a turbine block was out of service for a planned refurbishment.
Electricity supplied by the Energy Division to other Group entities was 1,907 GWh, or 57.5% of total energy generation. This was a net 222 GWh decrease from the comparable quarter of 2008 (75.4% of total energy generation).
The new aluminium smelter increased the Group's internal consumption of electricity by 11 GWh, 0.3% of the total output in the period (Q2 2009: 461 GWh; Q2 2008: 450 GWh). A 232 GWh reduction in internal energy consumption by the ongoing businesses of the Group in the period reflected production cutbacks in the Ferroalloys (171 GWh) and Iron Ore (61 GWh) Divisions. There was, however, a 29.4% increase in internal energy consumption in Q2 2009 versus Q1 2009 (Q1 2009: 1,474 GWh), reflecting increased demand from the Ferroalloys and Iron Ore Divisions.
External sales of electricity of 1,176 GWh more than doubled compared to Q2 2008 (Q2 2008: 506 GWh) as reduced internal consumption and an increase in total energy generation allowed for more electricity to be available for external sales. External sales of electricity decreased compared to Q1 2009, to support higher production levels.
LOGISTICS DIVISION
|
Q2 2009 |
Q2 2008 |
Q2 2009 v Q2 2008 % growth |
Q1 2009 |
Q2 2009 v Q1 2009 % growth |
||
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Tonnage of products transported by railway |
000' t |
13,271 |
14,854 |
(10.7)% |
12,734 |
4.2% |
|
Percentage of tonnage of products transported attributable to third parties |
8.7% |
14.1% |
8.5% |
In Q2 2009 the Logistics Division transported 13,271 kt by railway, a decrease of (10.7)% compared to Q2 2008. This decline principally reflected reduced activity in the Ferroalloys and Iron Ore Divisions. There was an increase of 4.2% in the tonnage of products transported in Q2 2009 versus Q1 2009.
Notes
1. Definition of Run of Mine ('RoM'): uncrushed ore in its natural state, as when it is blasted.
2. On 4 April 2008, the Group announced the completion of the acquisition of a controlling interest in the Serov group and certain related entities ('Serov'). Serov's results have been consolidated in the Group's Income Statement with effect from Q2 2008.
Ferroalloys Division: Serov - Ore Mining and Processing - Quarter ended 30 June 2009
|
Q2 2009 |
Q1 2009 |
Q4 2008 |
Q3 2008 |
Q2 2008 |
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Chrome ore |
||||||
|
Ore extraction (RoM) |
000' t |
18 |
9 |
37 |
33 |
54 |
|
Saleable ore production |
000' t |
11 |
6 |
23 |
20 |
34 |
|
Internal consumption of saleable ore |
000' t |
10 |
5 |
11 |
23 |
35 |
|
- percentage |
90.9% |
83.3% |
47.8% |
115.0% |
102.9% |
|
|
Consumption of saleable ore from Kazchrome |
000' t |
22 |
16 |
45 |
71 |
78 |
Note: internal consumption of saleable ore above 100% reflected consumption from stock.
Ferroalloys Division: Serov - Ferroalloys Production - Quarter ended 30 June 2009
|
Q2 2009 |
Q1 2009 |
Q4 2008 |
Q3 2008 |
Q2 2008 |
||
|
Ferrochrome |
000' t |
13 |
10 |
27 |
45 |
46 |
|
- High-carbon |
000' t |
2 |
2 |
9 |
22 |
23 |
|
- Medium-carbon |
000' t |
0 |
0 |
8 |
8 |
8 |
|
- Low-carbon |
000' t |
11 |
8 |
10 |
15 |
15 |
|
Ferrosilicochrome |
000' t |
10 |
6 |
10 |
15 |
15 |
|
Ferro-silicon |
000' t |
2 |
2 |
2 |
10 |
8 |
|
Total ferroalloys |
000' t |
25 |
19 |
39 |
69 |
70 |
|
Internal consumption of ferroalloys |
000' t |
10 |
8 |
14 |
19 |
22 |
|
- percentage |
40.0% |
42.1% |
35.9% |
27.5% |
31.4% |
|
|
Internal consumption of ferroalloys from Kazchrome (High-carbon Ferrochrome and Ferrosilicochrome) |
000' t |
1 |
1 |
1 |
3 |
0 |
Note: table may not sum precisely due to roundings.
3. On 15 October 2008 the Group announced the completion of the acquisition of a 50% stake in Xinjiang Tuoli Taihang Ferro-Alloy Co. LTD, a Chinese ferroalloys producer. The joint venture company has been renamed Xinjiang Tuoli ENRC Taihang Chrome Co. Ltd ('Tuoli'). Tuoli is accounted for by the Group as a subsidiary and its results have been consolidated in the Group's Income Statement with effect from Q4 2008.
Ferroalloys Division: Tuoli - Ferroalloys Production - Quarter ended 30 June 2009
|
Q2 2009 |
Q1 2009 |
Q4 2008 |
||
|
Ferrochrome |
000' t |
0 |
0 |
4 |
|
- High-carbon |
000' t |
0 |
0 |
4 |
|
Total ferroalloys |
000' t |
0 |
0 |
4 |
|
Internal consumption of ferroalloys |
000' t |
0 |
0 |
0 |
|
- percentage |
n/a |
n/a |
n/a |
|
|
Consumption of saleable ore from Kazchrome |
000' t |
1 |
0 |
12 |
Note: table may not sum precisely due to roundings.
Tuoli's consumption of saleable ore from Kazchrome in Q2 2009 was 560 tonnes.
Tuoli's ferrochrome production in Q2 2009 was minimal.
- ENDS -
Production Data for H1 2009 and the 4 quarters ended 31 December 2008
Notes:
Tables may not sum precisely due to roundings.
2007 quarterly production data is available on the Group's website (www.enrc.com).
FERROALLOYS DIVISION (Including Serov from Q2 2008 and Tuoli from Q4 2008)
|
2009 |
2008 |
||||||||||||
|
'000 Metric Tonnes = ('t') |
Q1 |
Q2 |
H1 |
Q1 |
Q2 |
H1 |
Q3 |
Q4 |
year |
Q2 '09 vs. Q2 '08 |
H1 '09 vs. H1 '08 |
||
|
Chrome Ore |
|||||||||||||
|
Ore Extraction (RoM) |
843 |
1,088 |
1,931 |
1,191 |
1,116 |
2,307 |
1,137 |
887 |
4,331 |
(2.5)% |
(16.3)% |
||
|
Processing of low grade stockpiles |
0 |
0 |
0 |
372 |
436 |
808 |
375 |
253 |
1,437 |
NA |
NA |
||
|
Saleable ore production |
623 |
823 |
1,446 |
900 |
1,014 |
1,914 |
1,011 |
704 |
3,629 |
(18.8)% |
(24.5)% |
||
|
Internal consumption of saleable ore |
410 |
581 |
991 |
645 |
760 |
1,405 |
727 |
462 |
2,594 |
(23.6)% |
(29.5)% |
||
|
- percentage |
65.8% |
70.6% |
68.5% |
71.7% |
75.0% |
73.4% |
71.9% |
65.6% |
71.5% |
||||
|
Manganese Ore |
|||||||||||||
|
Ore Extraction (RoM) |
323 |
642 |
965 |
447 |
696 |
1,143 |
717 |
429 |
2,290 |
(7.8)% |
(15.6)% |
||
|
Processing of low grade stockpiles |
169 |
201 |
369 |
107 |
339 |
445 |
301 |
289 |
1,035 |
(40.7)% |
(17.1)% |
||
|
Saleable ore production |
81 |
247 |
327 |
182 |
349 |
531 |
350 |
144 |
1,024 |
(29.2)% |
(38.4)% |
||
|
Internal consumption of saleable ore |
79 |
80 |
159 |
85 |
80 |
165 |
87 |
55 |
307 |
0.0% |
(3.6)% |
||
|
- percentage |
97.5% |
32.4% |
48.6% |
46.7% |
22.9% |
31.1% |
24.9% |
38.2% |
30.0% |
||||
|
Iron-Manganese Ore |
|||||||||||||
|
Ore Extraction (RoM) |
40 |
13 |
53 |
75 |
80 |
155 |
148 |
25 |
328 |
(83.8)% |
(65.8)% |
||
|
Processing of low grade stockpiles |
0 |
12 |
12 |
155 |
176 |
331 |
64 |
89 |
484 |
(93.2)% |
(96.4)% |
||
|
Saleable ore production |
0 |
12 |
12 |
100 |
151 |
251 |
133 |
48 |
433 |
(92.1)% |
(95.2)% |
||
|
Ferrochrome |
203 |
275 |
478 |
293 |
340 |
633 |
339 |
224 |
1,196 |
(19.1)% |
(24.5)% |
||
|
- High-carbon |
190 |
257 |
447 |
273 |
296 |
569 |
297 |
188 |
1,054 |
(13.2)% |
(21.4)% |
||
|
- Medium-carbon |
3 |
3 |
6 |
12 |
20 |
32 |
18 |
19 |
69 |
(85.0)% |
(81.3)% |
||
|
- Low-carbon |
10 |
14 |
24 |
8 |
24 |
32 |
24 |
17 |
73 |
(41.7)% |
(25.0)% |
||
|
Ferrosilicochrome |
10 |
12 |
22 |
29 |
49 |
78 |
46 |
32 |
156 |
(75.5)% |
(71.8)% |
||
|
Silico-manganese |
37 |
38 |
75 |
41 |
38 |
79 |
42 |
26 |
147 |
0.0% |
(5.1)% |
||
|
Ferro-silicon |
2 |
7 |
9 |
12 |
16 |
28 |
17 |
7 |
52 |
(56.3)% |
(67.9)% |
||
|
Total ferroalloys |
253 |
332 |
585 |
374 |
443 |
817 |
444 |
290 |
1,551 |
(25.1)% |
(28.4)% |
||
|
Internal consumption of ferroalloys |
48 |
64 |
112 |
43 |
67 |
110 |
68 |
52 |
230 |
(4.5)% |
1.8% |
||
|
- percentage |
19.0% |
19.3% |
19.1% |
11.5% |
15.1% |
13.5% |
15.3% |
17.9% |
14.8% |
||||
IRON ORE DIVISION
|
2009 |
2008 |
||||||||||||
|
'000 Metric Tonnes = ('t') |
Q1 |
Q2 |
H1 |
Q1 |
Q2 |
H1 |
Q3 |
Q4 |
year |
Q2 '09 vs. Q2 '08 |
H1 '09 vs. H1 '08 |
||
|
Ore extraction (RoM) |
6,617 |
8,367 |
14,985 |
10,142 |
10,722 |
20,864 |
10,776 |
6,111 |
37,751 |
(22.0)% |
(28.2)% |
||
|
Primary concentrate production |
2,657 |
3,596 |
6,252 |
4,046 |
4,479 |
8,525 |
4,514 |
2,448 |
15,487 |
(19.7)% |
(26.7)% |
||
|
Saleable concentrate production |
1,834 |
2,238 |
4,072 |
1,870 |
2,260 |
4,130 |
2,481 |
1,225 |
7,835 |
(1.0)% |
(1.4)% |
||
|
Saleable pellets production |
770 |
1,259 |
2,029 |
1,979 |
1,984 |
3,963 |
1,860 |
1,128 |
6,952 |
(36.5)% |
(48.8)% |
||
ALUMINA AND ALUMINIUM DIVISION
|
2009 |
2008 |
||||||||||||
|
'000 Metric Tonnes = ('t') |
Q1 |
Q2 |
H1 |
Q1 |
Q2 |
H1 |
Q3 |
Q4 |
year |
Q2 '09 vs. Q2 '08 |
H1 '09 vs. H1 '08 |
||
|
Bauxite extraction (RoM) |
1,175 |
1,307 |
2,481 |
1,276 |
1,310 |
2,586 |
1,334 |
1,240 |
5,160 |
(0.2)% |
(4.1)% |
||
|
Alumina production |
395 |
399 |
793 |
398 |
398 |
796 |
402 |
402 |
1,600 |
0.3% |
(0.4)% |
||
|
Internal consumption of alumina |
59 |
59 |
118 |
33 |
56 |
89 |
61 |
59 |
209 |
5.4% |
32.6% |
||
|
- percentage |
14.9% |
14.8% |
14.9% |
8.3% |
14.1% |
11.2% |
15.2% |
14.7% |
13.1% |
||||
|
Aluminium production |
31 |
30 |
61 |
16 |
27 |
43 |
32 |
31 |
106 |
11.1% |
41..9% |
||
|
Gallium production (kilogrammes) |
4,302 |
4,722 |
9,023 |
3,991 |
4,852 |
8,843 |
4,892 |
4,931 |
18,666 |
(2.7)% |
2.0% |
||
ENERGY DIVISION
|
2009 |
2008 |
||||||||||||
|
'000 Metric Tonnes = ('t') |
Q1 |
Q2 |
H1 |
Q1 |
Q2 |
H1 |
Q3 |
Q4 |
year |
Q2 '09 vs. Q2 '08 |
H1 '09 vs. H1 '08 |
||
|
Coal extraction (RoM) |
5,284 |
4,144 |
9,428 |
5,732 |
4,436 |
10,168 |
4,220 |
5,402 |
19,790 |
(6.6)% |
(7.3)% |
||
|
Energy Division consumption of coal |
2,087 |
2,045 |
4,132 |
1,912 |
1,733 |
3,645 |
1,729 |
1,773 |
7,148 |
18.0% |
13.4% |
||
|
- percentage |
39.5% |
49.3% |
43.8% |
33.4% |
39.1% |
35.8% |
41.0% |
32.8% |
36.1% |
||||
|
Sales of coal to other Group Divisions |
1,260 |
985 |
2,245 |
1,388 |
1,020 |
2,408 |
1,024 |
1,341 |
4,773 |
(3.4)% |
(6.8)% |
||
|
- percentage |
23.8% |
23.8% |
23.8% |
24.2% |
23.0% |
23.7% |
24.3% |
24.8% |
24.1% |
||||
|
Electricity generation (GWh) |
3,390 |
3,318 |
6,708 |
3,130
|
2,825 |
5,955 |
2,808 |
2,877 |
11,640 |
17.5% |
12.6% |
||
|
Sales of electricity to Group Divisions (GWh) |
1,474 |
1,907 |
3,382 |
2,044 |
2,129 |
4,173 |
2,214 |
1,587 |
7,974 |
(10.4)% |
(19.0)% |
||
|
- percentage |
43.5% |
57.5% |
50.4% |
65.3% |
75.4% |
70.1% |
78.8% |
55.2% |
68.5% |
||||
LOGISTICS DIVISION
|
2009 |
2008 |
||||||||||||
|
'000 Metric Tonnes = ('t') |
Q1 |
Q2 |
H1 |
Q1 |
Q2 |
H1 |
Q3 |
Q4 |
year |
Q2 '09 vs. Q2 '08 |
H1 '09 vs. H1 '08 |
||
|
Tonnage of products transported by railway |
12,734 |
13,271 |
26,005 |
15,450 |
14,854 |
30,304 |
15,373 |
12,812 |
58,489 |
(10.7)% |
(14.2)% |
||
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