Yuzhuralnickel BOD approved the contract with Oriel Resources Limited (included into Mechel Group) as an interest-bearing deal, the company informed.
The value and terms of the transaction are undisclosed.
Yuzhuralnickel (TIN 5613000143) is included into Mechel Group. It is a large nickel and cobalt producer. The reserves of nickel are appraised to cover above 1mln ton; cobalt - 90ths ton. The share capital is equal to 599.737ths rub. split in 599737 common stocks of 1 rub. par.
The IH net losses were reduced 2.96 fold to 261.849mln rub. from 774.167mln rub. prior year period. The revenues plunged from 67.99 fold to 62.2mln rub. from 4.229bn rub.; losses from sales - 7.93 fold to 130.105mln rub. from 1.032bn rub.; pretax losses - 3.02 fold to 316.822mln rub. from 955.52bn rub.