OREANDA-NEWS. April 01, 2008. Komsomolets Donbassa Mine, operating as a part of DTEK, reports on holding its regular shareholders meeting on March 28, 2008, reported the press-centre of SCM.

The meeting approved performance of the Supervisory Board, listened to and approved the report of the General Director Sergey Lozovskiy and the Revision Commission on the company’s financial and business performance in 2007.

“Komsomolets Donbassa Mine is Ukraine’s biggest producer of thermal coal. In 2007 the company produced 3,430,000 tons of coal, its highest output ever. Such high performance was achieved due to commissioning of five new longwalls, purchase of new equipment, and, above all, thanks to the diligence and coordinated efforts of all employees of the company”, Sergey Lozovskiy said in his report.

The meeting made a decision to allocate the 2007 profit on making a reserve (insurance) fund of Komsomolets Donbassa Mine; in connection therewith Komsomolets Donbassa Mine will not accrue and pay dividends upon its performance results.

Besides, in order to optimize the company’s financial and production performance the shareholders made a decision to set up several branches.

For your information
Donbass Fuel-Energy Company (DTEK) is the first private vertically-integrated energy company in Ukraine, incorporating coal-mining (Pavlogradugol, Komsomolets Donbassa Mine), generation (Vostokenergo) and electricity supply (PES-Energougol, Service-Invest) enterprises.

Komsomolets Donbassa Mine is the largest producer of thermal coal with a yearly output of over 3 m tons. The mine has its own coal enrichment complex, enabling it to ensure low ash content in the sold product. T (meager) grade coal, produced by the mine, is a thermal coal of qualitative chemical composition with the calorific value being close to that of anthracites.