17 Nov 2009 15:18

Russian uranium miner Pirargun boosts 9M profit 50%

MOSCOW. Nov 17 (Interfax) - Priargun Mining and Chemicals Association, Russia's biggest uranium miner, boosted net profit to Russian Accounting Standards (RAS) 50% year-on-year in January-September to 197.5 million rubles, the company said in a financial statement.

Sales revenue grew 14.4% to 6.2 billion rubles on the back of higher uranium prices.

Cost of sales rose 13.3% to 5.1 billion rubles, and operating profit rose 46.1% to 592 million rubles.

Other operating income fell 62.4% to 469.8 million rubles and other operating costs fell 77.4% to 459.2 million rubles.

Pretax profit grew 24.4% year-on-year to 260 million rubles.

Priargun mines around 3,000 tonnes of uranium per year or 90% of all uranium mined in Russia, at the Streltsovskoye field. It is the flagship enterprise of Atomredmetzoloto (ARMZ), the Russian uranium mining holding company.