Sukha Balka mine increased net sales by 3.6 times in 2021

In 2021, the Sukha Balka mine, which is part of the DCH group, increased its net sales by 3.62 times compared to the previous year – up to UAH 1.326 billion. This is reported by Interfax-Ukraine with the reference to the company’s information.

The company’s retained earnings at the end of last year amounted to UAH 3.419 billion. Shareholders plan to use the profit to replenish working capital.

In addition, Sukha Balka plans to hold a shareholders’ meeting on December 22, 2022, at which personnel issues will be discussed, as well as the results of work in 2021 will be summarized, reports will be approved, and the company’s significant contracts will be agreed upon.

Mining of iron ore at the mine in 2021 increased by 5.6% compared to 2020 – up to 2.7 million tons.

As GMK Center reported earlier, in 2020, Sukha Balka reduced its net sales by 59.7% compared to the previous year – to UAH 366.8 million. Output of iron ore for the year decreased by 6.3% y/y – to 2.554 million tons.

The Sukha Balka mine specializes in underground iron ore mining with a capacity of about 3.1 million tons per year. The mining includes the mines Frunze and the Yuvileyna.