Chelyabinsk, Russia – December 01, 2010 – Chelyabinsk Zinc Plant (LSE, RTS, MICEX: CHZN), has held the regular meeting of the Board of Directors at which the Company’s budget for 2011 was approved.
The budget provides the increase of CZP’s production of salable SHG zinc and zinc based alloys to 160 thousand tonnes. No less than half of products will be supplied to the domestic market, the rest – under the tolling agreement.
CZP’s affiliated company, Nova Zinc LLC (operator of Akzhal zinc and lead ore mine in Kazakhstan) in 2011 plans to produce 32.7 thousand tonnes of zinc in zinc concentrate.
CZP’s subsidiary, The Brock Metal Company Limited (the leading UK supplier of zinc die-casting alloys) in 2011 plans to produce 23.5 thousand tonnes of products, including 22.2 thousand tonnes of zinc alloys.
The Board of Directors also decided for further growth of production of salable zinc and zinc based alloys to increase the investment program in 2011 to RUB 1,250 mln. The majority of the funds (RUB 915 mln.) will be used on CZP’s development.