Finnish Metso Outotec mining and technology company completed work with Russian clients and ceased operations in the country. RIA Novosti reported.
«Metso Outotec has completed its wind-down of activities anddiscontinued business in Russia,» the statement says.
As the company’s financial statements for the second quarter of 2022 say, it recorded a loss of €150 million due to the withdrawal from operations in Russia. But it continued to fulfill orders for Russian enterprises that are not under international sanctions.
«In order to expedite the termination of contracts, the company has begun negotiations with its non-sanctioned customers on winding down contracts. This process was completed in the first quarter of 2023 and Metso Outotec has since ceased business with Russia. The firm fully complies with all applicable sanctions against Russia,» the company says.
Metso Outotec will work in Kyrgyzstan. It was announced in mid-April that a Finnish company had won a tender for the processing of tailings waste at Kumtor gold mine. The press service then stated that over 27 years of operation, 150 million tons of mining waste had accumulated at it. President Sadyr Japarov instructed the firm to speed up the tailings processing project. He believes that this will benefit the economy and neutralize toxic substances in the tailings.
Metso Outotec is one of the world leaders in technologies and services for the extraction and processing of minerals, including metals. Its headquarters is located in Helsinki. The company employs more than 15,000 people in more than 50 countries. Its sales amounted to about €5.3 billion last year. The company’s shares are listed on Nasdaq Helsinki stock exchange.
