Aricom
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| Aricom plc | |
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| Type | Public (LSE: ORE) |
| Founded | 2003 |
| Headquarters | London, England |
| Key people | Pavel Maslovskiy (Chairman of the board), Jay Hambro (CEO) |
| Industry | Mining, metallurgy |
| Products | Iron ore, ilmenite |
| Revenue | US $4.938 million (2007)[1] |
| Profit | ▲ US $111,000 (2007)[1] |
| Total assets | US $1.164 billion (2007)[1] |
| Employees | 230 (2007)[1] |
| Website | www.aricom.plc.uk |
Aricom PLC (Russian: Ариком, LSE: ORE) is a London-based iron ore mining company with operations in Russia. Its shares are listed on the London Stock Exchange and it is a member of the FTSE 250.
The company was formed in 2003, and has been one of the fastest growing iron ore producers in Russia with assets spread throughout the far eastern provinces. It is the first Eastern Russian iron ore mining company to have a market capitalization of over US$1 billion.
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[edit] Location
The Company’s operations are based in the Amur Region and Jewish Autonomous Region of Eastern Russia. The region offers a wealth of mineral deposits and provides a strong infrastructure for the company’s main assets. The mines are all within proximity to the Trans-Siberian Railway and BAM Railway and the company’s policy of using Russian professionals wherever possible means that there is a large supply of local labour and local expertise.
[edit] Mining
The company operates “open pit” mines which are essentially well planned craters dug into the ground. To excavate the ore, grids of holes are drilled into it and dynamite is then inserted into the holes. This process in known as “blasting” and the blasted ore is then removed from the pit in ore trucks.
[edit] Board of Directors
- Pavel Maslovsky
- Peter Hambro
- Jay Hambro
- Sir Malcolm Field
- Sir Roderic Lyne
- Brian Egan
- Martin Smith
