Krastsvetmet Established a Historical Record for Gold Production
In 2017, Krastsvetmet produced 220 tonnes of gold (40 tonnes more than the volume extracted in 2016), which constitutes a historical record, both for the company and for all refining enterprises of the country in the post-Soviet period.
The total gold output in Russia in 2017 amounted to 307 tonnes, which is a national record in the country’s history of gold production. The previous record was set in the USSR in 1988, when 304 tonnes of metal were extracted.
As at the end of 2017, Krastsvetmet remains one of the largest producers of precious metals in the world. Compared to 2016, the company’s revenue increased by 10% and reached 21 billion rubles. Net profit increased by 12%, and amounted to about 0.5 billion rubles.
The volume of production of platinum group metal has increased to 118 tonnes (+7%). The company has also produced 3.3 tonnes of catalyst systems for the nitrogen industry (+19%) and 2.7 tonnes of gold chains (+35%) for the jewellery sector.
Despite intense competition, Krastsvetmet has succeeded in expanding its presence in the Russian market in all areas of business. The refinery division of the company holds 72% of the gold production market. The technical products division manufactures 56% of all catalyst systems. The jewelry division produces 16% of gold chains.
In 2017, Krastsvetmet was actively engaged in the production of secondary materials containing platinum group metals. The company occupies an 85% share in the market for recycling spent industrial catalysts and a 35% share in the market of automobile catalytic converters, with the output of 700 and 250 tonnes, respectively.
Krastsvetmet has expanded its geographic footprint and exported products to more than 20 countries worldwide. The share of export revenue amounted to 40%. A milestone in the international activities of the company was the creation of a joint enterprise with AO Uzkimyosanoat in Uzbekistan.
In 2017, the R&D Park of Krastsvetmet became a member of the International Association of Science Parks (IASP), which brings together 374 technology parks from 77 countries around the world.