Karakan Invest LLC was named the "Best coal mining company" as result of the annual competition held by Kemerovo region's administration and the Kuzbass trade unions. The companies have been assessed based on the rates of labor productivity, net cost, wage level, taxes and social payments, etc.

"Regardless of the external ‘demonization' of the coal industry, the strategic investors and Kuzbass authorities are searching for and finding the GDP growth drivers, including by means of implementing social and economic partnership projects. These are the growth drivers that contribute to the realization of corporate interests at all levels, which is beneficial for investors, enterprises' mining staff the area, the region and, finally, the federal budget. This hierarchy of interests is one of the cornerstones of a state's stability and the growth drivers send a signal to the banking community that mining companies may and should work with both ad hoc and strategic partners regardless of ‘demonization' and geopolitical and macroeconomic environment," Krasnyansky said commenting on the competition's results.

Karakan Invest LLC tops the region's rating of coal-producing companies with regard to the labor productivity. In 2016, a worker produced 8,316 tonnes of coal per year, whereas the 2017 forecast shows an increase to 8,532 tonnes per year. This is the highest rate among the region's other enterprises (excluding the companies carrying services to third-party organizations) and this is twice as high as the Kuzbass mines' average. Karakan Invest LLC has the lowest rate in the Kuzbass region with regard to the net cost of coal extraction per tonne. In 2016, the net cost totaled 589 rubles per tonne.

The company maintains the net cost below 2011 level despite the 56-percent cumulative inflation for the period. Import substitution is one of the effective measures taken by Karakan Invest to optimize the net cost. Karakan Invest was one of the region's first companies to introduce the measure yet in 2014. In 2015-2017, four Russian-made electric excavators became operational and made it possible to reduce the cost of rock excavation twice compared to the hydraulic excavators. Karakan Invest paid the total of 2.8 billion rubles which is 130 rubles per tonne of coal in taxes to the budgets of all levels in 2010-2016.

Karakan Invest is a reliable participant in social and economic programs of the region's development. In 2010-2016, the company's payments for social needs totaled 643 million rubles, including the 440 million rubles paid according to the agreement with the administration of Kemerovo region. Labor productivity growth enables the company to increase the employees' income annually. Belovskaya Mine CJSC tops the list of the Kuzbass opencast mines producing long-flame coal with regard to the average nominal monthly wage. Thus, the employees' monthly income totaled 74,126 rubles in 2016 and is expected to amount to 54,296 rubles in 2017 showing a 15-percent increase. In the first quarter of 2017 Karakan Invest was ahead of the other Kuzbass coal mining companies by 12 percent with regard to wages.


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