Russian SMR 2009 ferro-molybdenum output up 15.2 pct
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 06.04.2010 |
Reuters News
Russian ferro-molybdenum producer SMR, owned by tycoon Oleg Deripaska, said on Tuesday it raised output of the alloy last year by 15.2 percent to 6,726 tonnes in spite of low prices caused by the economic crisis.
"Throughout the whole year 2009 the molybdenum market remained unstable," board chairman Anton Chertkov said in a statement.
"Such a situation forced us to mobilise and use all our efforts for output increase."
SMR, or SoyuzMetallResurs, is Russia's top producer of ferro-molybdenum, a ferro-alloy used to make high strength and wear resistant steel. It operates two ferro-molybdenum plants, Sorsk and Zhireken, in Siberia.
SMR said it produced 10,458 tonnes of molybdenum concentrate in 2009, 14.6 percent more than in the same period a year ago. Production of copper concentrate rose 11.3 percent year-on-year to 13,233 tonnes, the company said.
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