🕐16.10.12 - 13:54 Uhr

HEMSCOTT NEWS ALERT - PETROPAVLOVSK PLC



Petropavlovsk PLC - IRC: Ilmenite Production Increase Completed
RNS Number : 8098O
Petropavlovsk PLC
16 October 2012
 



 

16 October 2012

 

 

IRC: Ilmenite Production Increase Completed

 

Petropavlovsk holds a majority stake in IRC Limited ("IRC"), the Groups former Non-Precious Metals Division prior to its listing on the Stock Exchange of Hong Kong Limited.

 

Petropavlovsk PLC is pleased to confirm that IRC has announced the completion of a technology upgrade at its Kuranakh operation, resulting in a 150% increase in ilmenite capacity and the reaffirmation of the Companys targets for 2012 and beyond.

 

Key Highlights:

 

More than 150% increase in ilmenite production capacity

Reaffirm 2012 intermediate production target of 125,000 tonnes and 160,000 tonnes for 2013 and beyond

Upgrade completed at a cost of just under US$3 million, within budget and on time

Sales volumes at expanded capacity and prices for ilmenite remain strong

 

The full announcement may be found on IRCs website, http://www.ircgroup.com.hk.

 

IRC advises that it is intending to release its 2012 Third Quarter Trading Update on Thursday, 18 October 2012.

 

Enquiries

 

Petropavlovsk PLC

Alya Samokhvalova 

Rachel Tuft

 

 

 +44 (0) 20 7201 8900

 

 

College Hill

David Simonson

Matthew Tyler

Anca Spiridon

 

 +44 (0)20 7457 2020

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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