Within the first quarter of 2006, Ufaleynickel JSC produced 3,500 tons of nickel and 605 tons of cobalt. The company’s income from its principal economic activity went up by 210.3% against the first quarter of 2005. This is the result of the increase in the company’s nickel production and the decrease in its prime cost due to reduction of coke price, the company’s press release says. Within the first quarter of 2006, the company’s proceeds from sales of goods, works and services that belong to the company’s primary economic activity increased by 765,938,000 RUR compared to the figures for the

Oktyabrskiy Court of Yekaterinburg is finally through with the trial of former GD of Transglobal Airline CJSC who was charged with fraud connected with taking excessive advantage of his position in the company. According to the data of Russian Ministry of Foreign Affairs Court of Inquiry, the accused offered Omsk Airport JSC to set up the ground handling of the aircraft allegedly used by the carrier in October 2004. Yet he never mentioned that Transglobal actually possessed no aircraft at all and had no license entitling the company to service the passengers. Omsk Airport executives signed

Joint-Stock Bank Gold Platinum Bank JSC officially ceased to exist as a legal entity. It closed down after a merger with Mechel-Bank JSC of Chelyabinsk. In accordance with Russian legal regulations, this fact was registered in the State Register of Legal Entities. This was reported by PR-department of Mechel-Bank. Thus, Mechel-Bank has become the assignee of Gold Platinum Bank in all its liabilities to creditors and debtors. Due to the merger, the bank’s authorized capital has come to 306.3m RUR whereas its owned capital has come to 715.796m RUR. Mechel-Bank also inherited an additional

Vysokogorsky ore mining and processing enterprise, member of Evraz Group, has put into use the iron ore resources of the Centralniy open pit located in the town of Kushva. According to the company’s PR-department, putting a new production unit into operation is an important step. Within the last few months, the company increased its production output significantly against the scheduled annual output figures. To avoid using imported ore in the furnace charge, the company decided to use ore of the Centralniy open pit of Kushva town. ‘Magnetite has been dug in Kushva since 1735. The Centralniy

Mechel JSC Chairman Igor Zyuzin has increased his share holding up to 52.2% through a number of private transactions that have been done within the framework of the agreement signed by Mr Zyuzin and the company’s General Director Vladimir Yorikh. 23% of the company’s shares are now offered publicly, which is the largest figure among the Russian ore mining and metallurgical companies.

Tube Metallurgical Company JSC released its audit report for 2005 (the report uses International Accounting Standards). According to the report, the company’s profit went up by 42.9% and reached the point of 79.2bn RUR, its net profit came to 7.6bn RUR in 2005. The sales increased by 14.3% and came to 2,842,600 tons of goods; the output comprised 1,963,300 tons (an increase of 5.3% against 2004). The company also raised its seamless tubes shipments due to supplying more oil country tubular goods (OCTG). The sales went up largely due to supplying more wrought pipes (60.9% more of them were