Sokolovsko-Sarbaiskoye Ore Mining and Processing Association, more commonly known as SSGPO, is the collective name for five mines owned by diversified miner ENRC in Kazakhstan. It is made up of four surface mines; Sokolovsky, Sarbaisky, Kacharsky and Korzhinkol’skoye; and one underground mine, Sokolovsky. Over the last two years, we assume that SSGPO has been unprofitable but with prices remaining around the US80/tonne in recent months, it should now be operating with a positive margin. Nevertheless, we expect prices to retreat over the course of 2017 and SSGPO has the potential to return to an unprofitable position in what is likely to be a weaker price environment.
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