The total volume of processed ore amounted to 1,159,003 tons for the 9 months of 2020 (122.6% compared to 9M 2019). This corresponds to 64,849 tons of raw ferronickel (124.0% compared to 9M 2019) or 12,300 tons of nickel (122.8% compared to 9M 2019).
Profit for 9M 2020 reached UAH 12.4 million. The company paid UAH 4.4 million in profit tax during the nine month period.
During this reporting period, PFP paid UAH 96.1 million in taxes to the Ukrainian budget (an increase of 22.0% compared to 9M 2019). These taxes included UAH 45.1 million in single social security tax payments (an increase of 13.1% compared to 9M 2019) and UAH 36.4 million in payroll taxes (an increase of 14.5% compared to 9M 2019).
The average monthly salary paid during 9M 2020 was equal to UAH 11,893, which is 12.6% higher than the salary paid during the same period in 2019. As was agreed with Solway Group, the management of Pobuzhsky Ferronickel Plant decided to raise salaries by 10% on 1 January 2020 and by 5% on 1 August 2020.
Total spending on social programs in the village of Pobugskoye amounted to UAH 3.2 million for 9M 2020 (almost the same as was spent during 9M 2019; 99.3%). During the first nine months of 2020, PFP spent UAH 4.4 million on sponsorship, cultural and mass work, and recovery of PFP employees.
The costs for training of PFP staff amounted to UAH 226,900 for 9M 2020. During this period, 65 people trained for new professions and 44 people were retrained. Another 123 upgraded their skills. At present, 13 employees are enrolled in university: three on a full-time basis and ten are part-time students.
During 9M 2020, there were no significant repairs of main technological equipment. These costs amounted to UAH 7.1 million. Major repair works on ore smelting furnace No. 2 and tube rotating furnace No. 3 are scheduled for November 2020.
During 9M 2020, investments in maintaining production potential (purchases of equipment and machinery, construction works, etc) amounted to UAH 9.3 million.
In 2017, PFP began a long-term project of reconstruction of the third stage of gas treatment equipment on tubular rotating furnaces No.1 and No.2. This long-term project will reduce emissions of pollutants into the atmosphere down to world standards. In 2018, the first stage of construction was performed (at a cost of UAH 48.1 million) which involved the transfer of gas-cleaning TP-1 to a temporary scheme, with the installation of smoke exhauster and transference of gas pipes into the smoke pipe, which allowed the reconstructions to be performed without stopping the main production process. In 2019, PFP purchased a standby smoke exhauster and performed construction works. Total costs amounted to UAH 58.0 million (the cost of equipment purchased and construction works performed during 2018-2019). These works are scheduled to continue in 4Q 2020.
As a part of its sustainable development concept adopted in 2016, a programme has been implemented to provide international scholarship opportunities, the “Solway Music Fellowship”, to employees’ children, as well as to students of creative associations and educational institutions sponsored by Solway. The winners take part in various activities organized within the framework of the international opera festival in Salzburg.
In addition, in autumn 2020, PFP launched an interactive project “PICh” aimed at introducing teenagers to career opportunities in the mining industry. The project also aims to increase the number of young people who will pursue technical or specialized disciplines in future.
During the quarantine period, PFP also provided assistance to the medical staff of the village hospital medical and emergency workers in the region.
In addition to investments in education and health care, PFP has continuously provided assistance to the village council in landscaping. The plant also acted as a financial sponsor of repair works to the village police station in the amount of UAH 36,000.