Central Iron Ore increases revenues twofold in 2010

Central Iron Ore (UX: CGOK UK), part of Metinvest Group, increased revenues by 94.5% y-o-y to UAH 4.4 bln in 2010, according to UAS financials published on Friday. Net income grew last year by 5.2x y-o-y to UAH 1.28 bln. In 2010, Central Iron Ore produced 2.2 mln mt of pellets (down 0.7% y-o-y) and 6.1 mln mt of concentrate (up 21.3% y-o-y).