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

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7 Overview of the Iron Ore and Coal Markets in Russia Steelmaking is one of the largest consumers of raw materials and energy in the national economy. The main raw materials are iron ore and coal. The analysis of the Russian iron ore market shows that there is no shortage of iron ore. Russian Iron Ore Market in 200 -2007, m tons* Description 200 г. 2007 г. Deviation 2007/200 Pig iron production 51,7 51,3 -0,8% Production of iron ore materials 97,3 99,3 2,0% Export of iron ore materials 22,6 24,1 6,6% Import of iron ore materials 10,6 12,3 16,0% Domestic market requirement for iron ore materials Balance in the Russian iron ore market * - as per data of ОJSC Rudprom. 86,1 85,4 2,1% -0,8 2,1 The analysis of the Russian coal market shows that there is a slight shortage of coal. The 2007 output of coal concentrate is estimated at the level of 48.8 million tons, which, given the expected export of 10.9 million tones, allows to put the deficit of the product on the market at 1.3 million tons. In 2007 the shortage of coking coal concentrate on the Russian market was further aggravated by increased export coke deliveries: in the first half of 2007 the export of coke from the Russian Federation almost tripled compared to the same period of 2006.
Russian Coking Coal Market in 200 -2007, m tons # Description 200 2007 Deviation 2007/200 1 Pig iron production* 51,7 51,3 -0,8% 2 Coke production, 6% humidity* 32,7 34,0 4,0% 3 Coking coal production** 70,3 72,1 2,6% 4 Coal concentrate production** 47,6 48,8 2,5% 5 6 Coal concentrate required by Russian coke and chemical by-products plants ** Estimate coal concentrate export by Russian enterprises ** 38,7 40,2 3,9% 10,0 10,9 9,0% 7 Coal concentrate import** 0,2 1,0 в 5 раз 8 ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS Balance in the Russian coal concentrate market -0,9 -1,3 * - as per data of LLC CherMet Corporation; ** - as per data of the Fuel and Energy Complex of the Russian Federation. SEASON 2007 77
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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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Page 49 and 50: 10,000 8,000 6,000 4,000 2,000 0 AN
Page 51 and 52: 70 60 50 40 30 20 10 0 Assets Curre
Page 53 and 54: 4 3 2 1 0 Liquidity dynamics of MMK
Page 55 and 56: In accordance with its borrowing po
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 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
Page 109 and 110: # Causes of injuries 2003 200 200 2
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
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128 Exhaustive, precise and timely
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130 Report on Payment of Declared (
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132
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13 Information on Equity Capital As
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13 Liubov Gamper, OJSC MMK’s Dire
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138 Audit Committee Chairman of the
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1 0 # 5. 6. 7. Provisions of the Co
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1 2 # 18. 19. 20. 21. 22. 23. Provi
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1 # 31. 32. 33. 34. 35. 36. 37. Pro
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1 # 45. 46. 47. 48. Provisions of t
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1 8 # Provisions of the Code of Cor
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1 0 # 73. 74. 75. Provisions of the
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1 2 Director for Sales Director for
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1 Commercial Director Director for
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1 • • • • • • • •
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1 8 • • • • • • • •
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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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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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