Pokrovsk Mining ended January-September with a loss of UAH 50 million

The company's income during this period decreased by 54.4% y/y

Pokrovsk Mining and Processing Plant (Pokrovsk Mining) ended January-September 2023 with a net loss of UAH 49.98 million compared to a net profit of UAH 99.32 million a year earlier. This is reported by Interfax-Ukraine.

According to the company’s interim report, published in the NSSMC’s information disclosure system, its net income decreased by 54.4% – to UAH 1.07 billion during this period.

Retained earnings by the end of September reached UAH 1.35 billion.

Pokrovsk Mining ended January-March 2023 with a net loss of UAH 112.49 million compared to a net profit of UAH 18.03 million a year earlier. During this period, net income decreased by 19.7% y/y – to UAH 828 million.

Pokrovsk Mining from November has suspended its core operations of ore mining and concentrate production. The company’s staff will be involved in providing services to customers. Among the main issues affecting the plant’s operations is the economic downturn in terms of demand and the cost of manganese products.

As GMK Center reported earlier, Pokrovsky Mining in the middle of July 2023 after a 4-month standstill, the Chkalovsk enrichment plant was put into operation again. The issue of factory operation directly depends on the demand for concentrate, which is not increasing yet.

In September, the plant produced the first tons of manganese sinter ore at the Bohdanivska beneficiation and agglomeration factory after a long period of downtime. BZAF planned to produce 15,000 tons of agglomerate per month.

Pokrovsk Mining is the largest producer of manganese ore in Ukraine. The main consumers of products are enterprises of the steelmaking and ferroalloy branches of the steel industry.