Vysokogorsky Ore Mining and Processing Enterprise JSC, member of Evraz Group, has multiplied by 1.05 its applicable tariff rates and personnel wages. Since May 2006, the wages of every company’s employee has gone up by 5% on average.

According to the company’s spokesperson, the wages are raised under the terms of the collective agreement that provides for an advance of wages in order to compensate the rise in consumer prices during the first quarter of 2006. ‘We managed to raise the wages due to our success in production cost optimization, increase in labor productivity and reducing the selling costs. Vysokogorsky Ore Mining and Processing Enterprise is going to keep reducing the costs. The company is going to set up indexations quarterly, on condition that the costs reducing remains successful.