In 2013, IRC of Petropavlovsk increased production of ilmenite concentrate by 20%

In 2013, iron-ore company IRC Limited (a part of Petropavlovsk Plc), registered in Hong Kong and carries out production in Russia, reduced its net loss from 28% to $41.6 million as compared with 2012. The proceeds grew by 15% to $160.9 million, mainly due to increase in sales, IRC reports.

At the same time, excluding asset impairment retirements, the company’s net loss fell by 36% to $19.5 million in 2013.

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