Miner's Profit Down

By The Moscow Times

April 1, 2012

Raspadskaya said Friday that profit dropped 45 percent last year as output shrank after delays in restoring its main mine following a 2010 explosion.

Net income fell to $135 million from $245 million a year earlier. Adjusted EBITDA fell by about 4 percent to $324 million. Revenue climbed 2.9 percent to $726 million.

Coal output fell 13 percent to 6.25 million tons, Raspadskaya said in January, below the 6.4-million-ton estimate the company gave in December. The decline was partly due to delays in safety approvals as Raspadskaya restores output at its main mine following the blast in 2010 that killed 90 people.

(Bloomberg)

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