January 22, 2014. Mining Chemical Company Russian Bor , operating the only functional boron deposit in Russia, announces the results for 2014.
In 2014 the company produced 81,234 tons of boric products and shipped 75,402 tons. Thus the production volume insignificantly grew as compared to 2013, when 76,199 tons of boric products were produced and 76,230 tons were shipped.
In 2014 the process of carrying the corporate structure of Russian Bor in to Russian jurisdiction was launched. At the present moment the process has entered a concluding stage.
Dmitry Rachkov, the managing director of Russian Bor:“In 2014 the company faced negative business trends, when the prices for boric products dropped to a critically low level in the first half of the year. The company had to stop shipments and switch to the shutdown maintenance mode. In the second half of 2014 the national currency devaluation slightly improved the company’s financial standing. Meanwhile the products of Russian Bor are still notable for higher cost, compared to that of other producers, which makes them less competitive in the external market.”