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News: Materials & extraction 16 May '08 | Rostov-on-Don LUKoil to spend $2bn on southern operations in 2008 Russian oil giant LUKoil will invest some $2bn into its operations in Russia's south in 2008, the firm's president, Vagic Alekprerov, said today. 16 May '08 | Krasnoyarsk Eastern Oil's 1Q revenue drops 22% Eastern Oil's 1Q results show a 22% drop in revenue to $46.4m 15 May '08 | Krasnoyarsk Krasnoyarsk coal sector growing, authorities say First quarter results released by Khakasiya-based coal mining companies, the Krasnoyarsk region, show a 6.2% year-on-year rise in coal shipment, local authorities announced today. 15 May '08 | Ekaterinburg Sverdlovsk's non-ferrous metalwork on the rise First quarter results released by the Kamensk-Uralsky non-ferrous metal processing factory show net profit calculated in accordance with Russian accounting standards for the period totaled $8m, up 16% 15 May '08 | Kazan Shell and Tatneft to pilot bitumen production in Tatarstan Shell and Tatneft may invest between $100m and $200m in a pilot project aimed at developing bitumen deposits in Tatarstan, with a feasibility study into the move ongoing. 14 May '08 | Ekaterinburg Gazprom subsidiary reports growth First quarter results released by Spetzgazavtotrans show $9m net profit, up 1.9% on the first quarter of 2007. 13 May '08 | Tomsk Tomsk unveils $71m geological survey Officials in Tomsk unveil a $71m geological survey project set for 2009, to be funded by the federal government. 13 May '08 | Krasnodar Rosneft-Kubannefteproduct posts 2007 profit up 2007 results released by oil firm Rosneft-Kubannefteproduct show net profit came in at $20m, up 34.8% on 2006. 12 May '08 | Kemerovo Kuzbassrazrezugol unveils new $16m mining plants Coal firm Kuzbassrazrezugol opened on Monday its two new concentration plants, capping a $16m project to build them which started in November 2007. 12 May '08 | Chelyabinsk Oil & Gas Technologies confirms $84m final stage at Antipinsk Oil trader Oil & Gas Technologies will spend $84m on completing the second construction phase of the Antipinsk oil refinery in the fourth quarter of 2009, Interfax reports. 09 May '08 | Krasnoyarsk Krasnoyarskkrayugol decides against 2007 dividends Shareholders at Krasnoyarsk coal producer Krasnoyarskkrayugol vote not to pay dividends on 2007 net profit, which will instead be used to cover debts, according to reports. 09 May '08 | Ekaterinburg Gaykiy ore factory to reinvest 2007 profits Directors at the Gayskiy ore concentration factory recommend to shareholders to forgo paying dividends on unannounced 2007 profits, according to reports. 08 May '08 | Ekaterinburg Bogoslovskoye opts for reinvestment over dividends Mining company Bogoslovskoye opts to pump the $1.5 net profit it made in 2007 back into the firm rather than pay dividends. 08 May '08 | Ekaterinburg Ural Oil Company 2007 profit totals $6.8m 2007 results released by the Ural Oil Company show net profit for the year totaled $6.8m, 2.3 times that of net profit made in 2006. 08 May '08 | Ekaterinburg Akron agrees terms on $560m Sberbank credit line European fertilizer manufacture Akron agrees terms with national bank Sbernank to open a $560m, seven-year credit line to find an extraction license application. 08 May '08 | Altai Siberia-Polymetals production 'to increase 45%' Altay's head of industry and energy says he expects production output at Siberia-Polymetals to increase 45% thanks to recently-begun mining projects 07 May '08 | Tomsk Preparatory work on $72m drilling project complete Interfax reports that Tomsk's regional authorities have finished preparatory work ahead of a project to mine hydrocarbon materials in 2009. 07 May '08 | Rostov-on-Don Donugol announces $10.5m mine development Coal firm Donugol plans to invest $10.5m developing its Sherlovskaya-Naklonnaya mine in Rostov region, Interfax reports. 05 May '08 | Ekaterinburg Uralsabest opts for reinvestment over dividends Shareholders in Sverdlovsk insulation materials firm Uralasbest vote revinvest 2007 profits into development over dividends. 05 May '08 | Ekaterinburg KMC applies for $739m loan for mining license Kamskaya Mining Company applies for a $739m loan from VTB to fund its application for a license to develop the Verkhnekamsky deposit of potassium-magnesium salts.

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