OJSC Uralskaya Gorno-Metallurgicheskaya Kompaniya acquired the right to own 51.018% of the authorized capital of OJSC Coal Mining Company Kuzbassrazrezugol, UGMK informed.
OJSC Coal Mining Company Kuzbassrazrezugol (tax number: 4205049090) is the largest Russian producer of high-quality coal using the surface mining method. It accounts for a quarter of the total coal mining output in Kuzbass. The company is mining commercial reserves of 17 coal deposits totaling more than 110 coal layers in Kuzbass. The company's balance sheet coal reserves amount to 2.300 billion tonnes. Kuzbassrazrezugol exports up to 19 million tpa accounting for 25% of Russia's total coal export volume. UGMK-Holding LLC performs functions of the sole executive body for Kuzbassrazrezugol.
Net profit (RAS) of OJSC Coal Mining Company Kuzbassrazrezugol for 2010 was RUB 7.425 billion, almost the same as for 2009. Revenue increased by 2% to RUB 50.764 billion.
OJSC Uralskaya Gorno-Metallurgicheskaya Kompaniya (UGMK, English: Ural Mining and Metallurgical Company, tax number: 6606013640) unites assets of about 50 enterprises located in various regions of Russia. UGMK accounts for about 40% of the output of Russian cathode copper, zinc and about 50% of lead, a quarter of the domestic market of non-ferrous rolled products and more than a half of the European copper powder market. From year to year, UGMK increases the output and sale of almost all kinds of goods.
The shareholders of the company are: Cobargo Management Inc. (16.25%), Finmet Ag (Finmet Corp.) (19.99%), Diluk Associated S.A. (17.55%), Kaskonu Invest Corp. (16.2%), Fridingen Investments Limited (15.1%), Alpine Group Ag (15%).
The company was established in 1999 by Iskandar Makhmudov together with his partners. Its authorized capital (RUB 420 million) is represented by 420 million common shares at par value of 1 ruble.
According to the information and retrieval system DataCapital, net profit (RAS) of UGMK for January-September 2012 decreased 629.83-fold to RUB 16.353 million from RUB 10.3 billion the year before. Revenue stood flat (RUB 6.444 million), sales profit increased by 34.84% to RUB 6.01 million from RUB 4.457 million, pre-tax profit shrank 2,178.22-fold to RUB 4.833 million from RUB 10.286 billion.