Annual report 2007 - Magnitogorsk Iron & Steel Works ...

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108 The industrial and occupational safety management system is part of the general system of the Company management. It helps manage risks in the field of industrial and occupational safety. OJSC MMK has adopted the Industrial and Occupational Safety Policy according to which the Company’s strategic objective is to ensure safe conditions of work, industrial safety for hazardous facilities and technically acceptable and economically sound risk levels. • • • • The main activities in the field of industrial and occupational safety in 2007 were as follows: planning and implementation of measures focused on increasing the safety level at hazardous facilities; timely identification of negative factors lowering the safety level of hazardous facilities; forecasting of hazards, possible negative developments having an impact on the status of the main factors that determine industrial safety; taking actions for the prevention of emergencies, incidents and injuries. In June of 2007 the industrial and occupational safety management system was audited by a leading independent certification body, Bureau Veritas Quality International, for conformity to the international standard OHSAS 18001:1999. In 2007 MMK implemented 80 measures for the improvement of industrial and occupational safety. Working conditions were improved for 4,126 employees. In 2007 OJSC MMK spent USD 40.46 m on industrial and occupational safety. . The share of such expenses in the production costs was 0.75% (compared to 0.74% in 2006). Industrial Injuries’ Statistics # Description 2003 200 200 200 2007 1 Number of recorded accidents 35 27 21 19 28 2 Number of injuries including: fatal injuries severe injuries group injuries 36 28 22 33 32 6 2 4 4/11* 4/5* 10 14 6 4 12 1 1 1 1 2 3 Injury incidence rate 1.040 0.880 0.770 0.720 1.069 4 Injury severity rate 24.00 46.64 55.22 55.75 47.04 5 Working days lost 1, 022 1, 026 1,215 1, 115 1, 082 * number of accidents/number of persons affected
# Causes of injuries 2003 200 200 200 2007 1 Technical 3 1 1 0 2 2 Organizational 27 18 19 12 18 3 ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS External (assault, motor vehicle accident, faults of third parties) 3 8 1 1 1 4 Other 2 0 0 6 7 5 Total accidents 35 27 21 19 28 Number of accidents 250 200 150 100 50 0 Accidents’ Dynamics 2003 2004 2005 2006 2007 SEASON 2007 109
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DISCLAIMER The present Annual Repor
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Victor Rashnikov, Chairman of the M
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Description Capitalization (as at y
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Content INTRODUCTORY ADDRESS of Vic
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In 2007 the Magnitogorsk Iron and S
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ANNUAL REPORT OPEN JOINT-STOCK COMP
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Human Resources The average payroll
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Using these mills, MMK manufactures
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as regards the organization of thei
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Relations with Local Communities in
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• • • ANNUAL REPORT OPEN JOIN
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10,000 8,000 6,000 4,000 2,000 0 AN
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70 60 50 40 30 20 10 0 Assets Curre
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4 3 2 1 0 Liquidity dynamics of MMK
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In accordance with its borrowing po
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Page 59 and 60: 1.0 0.8 0.6 0.4 0.2 Trends in OJSC
Page 65: The growing demand and buoyant pric
Page 68 and 69: 8 Major Regional Markets for OJSC M
Page 70 and 71: 70 LLC Uralsibtrade OJSC Uraltrubpr
Page 72 and 73: 72 The changes in the domestic sale
Page 74 and 75: 7 Victor Kutischev, OJSC MMK’s Co
Page 76 and 77: 7 Overview of the Iron Ore and Coal
Page 85 and 86: • • Expenditures on major capit
Page 89 and 90: tons thanks to the installation of
Page 97 and 98: Currency Risk A significant portion
Page 101 and 102: Goals Planned value Actual value Ac
Page 105 and 106: The average wages at MMK are 35% hi
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Page 119 and 120: Environmental Expenditures 2007 saw
Page 121 and 122: 6.00 5.16 5.00 4.00 3.00 2.00 1.00
Page 125: ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 128 and 129: 128 Exhaustive, precise and timely
Page 130 and 131: 130 Report on Payment of Declared (
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Page 134 and 135: 13 Information on Equity Capital As
Page 136 and 137: 13 Liubov Gamper, OJSC MMK’s Dire
Page 138 and 139: 138 Audit Committee Chairman of the
Page 140 and 141: 1 0 # 5. 6. 7. Provisions of the Co
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Page 146 and 147: 1 # 45. 46. 47. 48. Provisions of t
Page 148 and 149: 1 8 # Provisions of the Code of Cor
Page 150 and 151: 1 0 # 73. 74. 75. Provisions of the
Page 152 and 153: 1 2 Director for Sales Director for
Page 154 and 155: 1 Commercial Director Director for
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1 0 Protection Policy which regulat
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1 2 Sergey V. Krivoshchekov (born i
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1 - exercises the authorities of th
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1 Victor A. Kutischev (born in 1958
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1 8
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170
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172 1. Date of Publication of the L
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• settlement procedure - by insta
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24) Services Agreement # 150577 bet
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• • • validity period - till
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The following persons are recognize
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The following persons are recognize
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61) rental agreement # 152445 betwe
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• validity period - from the date
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days from the receipt of invoice;
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• • • settlement procedure -
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The Body which approved the transac
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• • • validity period - till
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• • • • ANNUAL REPORT OPEN
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• settlement procedure - funds tr
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164) paid service agreement # 16001
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There are no beneficiaries under th
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during the shipment, with a discoun
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• supply period - until next Annu
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CONSOLIDATED BALANCE SHEETS AS OF D
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Note Years ended December 31, 2007
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ASSETS I. NON-CURRENT ASSETS Line c
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LOSS AND PROFIT STATEMENT for 2007
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BREAKDOWN OF INDIVIDUAL PROFITS AND
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3.3 Reporting cycle Date of Publica
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EN10 Percentage and total volume of
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The OJSC MMK’s Annual Report is e
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