Coal production at Kuzbass Fuel Company rises 19% in Q1
KEMEROVO. April 24 (Interfax) - PJSC Kuzbasskaya Toplivnaya Company (Kuzbass Fuel Company, KTK) increased coal production 19% year-on-year in Q1 2017 to 3.32 million tonnes, the company reported.
KTK processed 2.45 million tonnes of coal, up 12%.
Product sales, including resale of coal purchased from outside suppliers, also rose 19% in the period, to 3.06 million tonnes.
Exports rose 21% to 2.22 million tonnes and domestic sales grew 17% to 840,000 tonnes.
Compared with Q4 2016, exports rose 15% while domestic sales fell 37%.
The average sale price of coal fell 3% quarter-on-quarter and grew 8% year-on-year to 1,426 rubles a tonne, not including the rail tariff and VAT.
KTK aims to produce 3 million tonnes of coal in Q2 2017. In that case, coal production for the first half of the year would be 6.32 million tonnes, up 14.5% from 5.52 million tonnes in the same period of last year.
KTK, from the Kuznetsk basin (Kuzbass, Kemerovo region), is one of the largest producers of steam coal in Russia and includes the Vinogradovsky, Karakansky-South and Cheremshansky open-pit mines, the Kaskad-1 and Kaskad-2 washing plants, a distribution network and infrastructure enterprises.
Igor Prokudin, the company's general director, controls 50.0727% of KTK shares through Haver Holding Limited, board chairman Vadim Danilov has 16.78% and Prosperity funds own 27.34%.