Russian uranium miner reports good results

20 March 2019

Russian uranium miner Uranium One has announced revenues of $379.9 million for 2018 up from $301.3 million in 2017, including revenue from produced and purchased material.

Gross profit was $90.0 million, compared with $46.6 million in 2017. The company's attributable sales were 11.3 million pounds U3O8 (4347tU) from production of 11.4 million pounds, with attributable inventory at 31 December of 2.0 million pounds.

The net profit of the Russian uranium mining holding, JSC Atomredmetzoloto (ARMZ), under the Russian Accounting System   amounted to RUB236.4 million ($3.64m) in 2018 compared with a net loss of RUB6.7 billion in 2017, according to the company report published in March.

ARMZ's revenue grew in 2018 by 9% to RUB14.43 billion. Costs for the reporting year decreased by 17.8% to RUB11.1 billion and gross profit amounted to RUB3.3 billion against a gross loss of RUB318.1 million in 2017. Sales revenue totalled RUB2.1 billion compared with a loss of RUB1.4 billion in 2017.


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