NEWS RELEASE
For Immediate Release - December 02 , 2011
Board of Directors of CZP approved the budget for 2012
Chelyabinsk, Russia - November 30, 2011 - Chelyabinsk Zinc Plant (LSE, MICEX: CHZN), has held the regular meeting of the Board of Directors at which the Company's budget for 2012 was approved.
CZP in 2012 plans to produce 160 thousand tonnes of salable SHG zinc and zinc based alloys. The majority of products will be supplied to the domestic market, the rest - under the tolling agreement with fixed processing fee of RUB 27,000per tonne of zinc.
CZP's affiliated company, Nova Zinc LLC (operator of Akzhal zinc and lead ore mine in Kazakhstan) in 2012 plans to produce 34.2 thousand tonnes of zinc in zinc concentrate.
CZP's subsidiary, The Brock Metal Company Limited (the leading UK supplier of zinc die-casting alloys) in 2012 plans to produce 24.4 thousand tonnes of products, including 23.4 thousand tonnes of zinc alloys.
The Board of Directors also approved the investment program for 2012 in the amount of RUB 876.4 mln. The majority of the funds (RUB 707.6 mln) will be used on CZP's development.
About Chelyabinsk Zinc Plant
Chelyabinsk Zinc Plant is the leading Russian zinc producer. In 2010 the plant produced 153,335 tonnes of salable SHG zinc.
According to consolidated IFRS accounts, revenue in 2010 was RUB 11,810 millionand EBITDA - RUB 2,086 million.
Ordinary shares of CZP are traded on the MICEX exchange under ticker CHZN and
Global Depository Receipts (GDR) are traded on the London Stock Exchange under
ticker CHZN.
Investor and Media Contacts:
Natalya Vasilieva, PR, ngv@zinc.ru
Tel: +7 (351) 799-01-52
Evgeny Ponomarev, IR, eyp@zinc.ru
Tel: +7 963 998-55-58
This announcement may include forward-looking statements. CZP's actual results may differ materially from those made in or suggested by the forward-looking statements contained in this announcement. By their nature, forwarding-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Even if the actual results are consistent with the forward-looking statements contained in this announcement, those results may not be indicative of results or developments in future periods. CZP does not undertake any obligation to update any forward-looking statements to reflect events that occur or circumstances that arise after the date of this announcement.