Vysokogorsky Ore Mining and Processing Enterprise JSC, member of Evraz Group, has implemented the next stage of the corporate calculation of expenditures development program. The program implementation is to allow for more efficient resource and cost management.

According to the company’s PR-department, the program is implemented by all Evraz members in order to calculate transparent prime cost of the Group production. Implementation of the program by Vysokogorsky Ore Mining and Processing Enterprise is to provide for specification by different kinds of activities and, hopefully, for reduction of the costs of the company’s main subdivisions that include mines, an open pit, Vysokogorsky processing plant and Lebyazhinsky sintering plant.

The company compiled a working team consisting of economists and accountants and collected data concerning operations of the company’s mines and open pits systematized by types of works. By August 1, 2006, the team is going to complete the specification of access development and winning operation costs, and to finish the cost specification work by the end of 2006.