Annual Report & Accounts 2013
Severstal Annual Report 2013 Home > Strategy > Case 1 – Improving the cost of production at our steel and mining operations
 

Case 1 – Improving the cost of production at our steel and mining operations

Our continuous improvement programs have started to deliver. Our target is now to ensure that those results are sustainable.

Cherepovets Steel Mill production cash cost of slab, $/t

Cost control at Severstal Resources

Total cash costs at our mining units were all down over last 3 years

Vorkuta coking coal concentrate total cash costs

PBS coking coal concentrate total cash costs

Karelskiy Okatysh pellet total cash costs

Olkon iron ore concentrate total cash costs

 

CEO statement

Our strategic goal remains the same: we aim to be a leader in value creation. In the current volatile and challenging market environment, this means the ability to generate solid positive free cash flow throughout the market cycle.

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Chairman statement

Since listing we have been committed to the highest standards of corporate Governance and aim for full compliance with the UK Corporate Governance Code.

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COO statement

We have three simple operational priorities: to have low-cost production across all of our operations at all times; to increase our share of high-margin products; and to ensure that all our assets have low CAPEX requirements.

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CFO statement

Reflecting the confidence in the outlook and the financial strength of the company, the Board of Directors has recommended a dividend payment of 3.83 roubles per share and per GDR (approximately US$0.11) for the 12 months ended 31 December 2013.

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