StockMarketWire reported that Chelyabinsk Zinc Plant's board has approved the company's budget and investment program for 2012.

CZP plans to produce 160,000 tonnes of salable SHG zinc and zinc based alloys next year. The majority of products will be supplied to the domestic market the rest under the tolling agreement with fixed processing fee of RUB 27,000 per tonne of zinc.

CZP's affiliated company, Nova Zinc plans to produce 34,200 tonnes of zinc in zinc concentrate. CZP's subsidiary, The Brock Metal Company the leading UK supplier of zinc die casting alloys plans to produce 24,400 tonnes of products including 23,400 tonnes of zinc alloys.

The board also approved the RUB 876.4 million investment program. The majority of the funds RUB 707.6 million will be used on CZP's development.

(Sourced from StockMarketWire.com)