OREANDA-NEWS. April 08, 2010. SMR, the biggest ferromolybdenum producer in Russia, has announced its 2009 Key Performance Indicators.

Implementation of 2009 anticrisis programs aimed at elimination of financial crisis impact resulted in significant increase of output of all commodities produced by the company:

Molybdenum concentrate output was increased by 14.6% against 2008 and totaled 10,458tons.

In 2009 ferromolybdenum output was increased by 15.2% against 2008 and totaled 6,726tons thus registering a historical output record.

Copper concentrate output totaled 13,233tons and exceeded 2008 result by 11.3%.

Mr. Anton Chertkov, SMR Chairman of the Board of Directors, commented on the Company's 2009 performance as follows: "The year 2009 was not a simple for the industry. The economic crisis has had an impact on all domestic smelting companies. Throughout the whole year 2009 the molybdenum market remained unstable. In the 4th quarter of 2008 ferromolybdenum prices went down by almost 4 times. A slight price recovery in summer was followed yet by another downfall in autumn. Such situation forced us to mobilize and use all our efforts for output increase. Finally, the undertaken measures resulted in a record yield increase and enabled us to retain our competitiveness".

According to the year 2009 results, Zhireken industrial complex achieved high FeMo output which was increased by 22.6% compared to 2008. Molybdenum recovery from molybdenum concentrate was increased by 5.9% and hit 80.5%.

According to the year 2009 results, Sorsk industrial complex also fulfilled its planned performance and increased FeMo output by 11.2%. The slag acid treatment circuit commissioned in April 2009 ensured Mo recovery by 1% which accounted for additional 35 t of FeMo per year. In 2009 the efficiency of Ferromolybdenum Section was increased by 7% due to a new Mo concentrate roaster which was commissioned in May 2009.