Pokrov Mining completed the first half of the year with a loss of UAH 37 million

The company's income in January-June fell by 45%

Pokrov Mining and Processing Plant (Pokrovsk GOK) completed January-June 2022 with a loss of UAH 37.4 million compared to UAH 55.98 million profit in the same period a year earlier. This was reported by Interfax-Ukraine with the reference to the company’s report.

The net income of the enterprise over this period decreased by 45.3% compared to January-June 2021, to UAH 828.05 million.

Retained earnings at the end of June this year amounted to UAH 1.37 billion.

In the first quarter Pokrov Plant received UAH 112.5 million loss against UAH 18 million profit in January-March 2021. The company’s net income for the quarter decreased by 19.7%, to UAH 573.4 million

In January-May, the plant produced 294 thousand tons of manganese concentrate (-35.1%) and 29.55 thousand tons of iron ore sinter (-77.5%). In 2021 the plant produced 1.21 million tons (-9.3%) of manganese concentrate.

Pokrov Mining and Processing Plant – the largest producer of manganese ore in Ukraine. 24.3% of the shares of Pokrov Plant are owned by four Cypriot companies – Profetis Enterprises Limited, Exseed Investmens Limited, Clemente Enterprises Limited and Alexton Holdings Limited (Privat group).