Serbia mining: Kolubara mines company 56th General assembly meeting,, Positive bussiness results

, Mining

The overall six-month financial result of the MB “Kolubara” business activities is positive, and the profit made amounts  to 1.5 billion RSD, as stated in the Business Report  adopted at the 56th Session of the Meeting of the  Company, held on September 20th in Lazarevac. After the correcton of the total financial result made by deducting the tax and deferred tax income, net total financial result for the above mentioned period amounts to about 1.3 billion RSD, as Mr. Miodrag Mitrović, Assistant Director for economic affairs stated.  Business results for the past six months have been significantly better than in the same period last year. Total incomes amount to about 2.9 billion RSD or 9.7% more than planned, while book-entered expenses are about 20.4 billion RSD, which is by 8.8 % less than envisaged.

According to the Report, at the OPMs, as of 30th June this year, more than 14 million tons of coal were produced, that is about 4.2% more than planned. Out of this amount, about 6.5 million tons were produced at the “Tamnava-West Field”, almost 18 percent more than planned for this period. Good production results were recorded also in the Field “D”, where the plan was overfulfilled by about 24%, and almost 4.2 million tons of lignite were produced. Total coal production in “Kolubara” is by 3.1% higher than that achieved in the same period last year.

Production of overburden during the first six months was also higher than planned by 4.5 %, and 34.6 million cubic meters of overburden were produced. The largest share in this result had “Tamnava-West Field” (14.6 m3) and Field “D” (12.5 millions m3).
The plans for the supply of raw coal and dry coal to industy and consumer goods were overfulfilled by 74.9 % and 37.8% respectively.
In the Report, the situation regarding maintenance of the capacities for coal production in the period from January to the end of June this year was analyzed in detail. It is estimated that the maintenance of the means participated with 7.2% in the planned total business expenses for this period, and that 1.3 billion RSD was spent  or 30.5% less than envisaged by the plna (that is flexible). Also, it is about the amount that is by 33% lower than the amount spent in the same period last year. It was found that the overhauls of the equipment at the OPMs, despite all the difficulties, were performed successfully, and that the quality of the performed works is satisfactory.
When it comes to the investments, in the adopted Report it was mentioned that total realized investments at the level of MB “Kolubara” for the period from 1st January to 30th June this year, amount  to 1.9 billion RSD, that regarding the annual plan of the first priorities amounts to about 21%. The funds appropriated for this field in the Branch “Open Pit Mines” amount to about 1.8 billion RSD, while for the Branch “Prerada” they amount to about 36 billion RSD.

At the Session of the General Meeting of MB “Kolubara”, beside the Business Report for the first half of the year, i.a. also the Decision on the assigning the lots at the location “Nursery garden” to the former owners of the expropriated properties from Zeoke, the Decision on paying out the compensation for the non standard surface structures at the old cemetery in Baroševac as well as the Decision on expenditure of fixed assests in the OU “Tamnava East Field”.

Source; RBK