OREANDA-NEWS. January 29, 2009. "Kovdorsky Mining-and-Processing Integrated Works" OJSC informed the Federal Antimonopoly Service (FAS Russia) on transferring a fine at a rate of 12 494 573 Rubles to the federal budget. The company was fined for abusing dominant position on the market of apatite concentrate, reported the press-centre of FAS Russia.

Earlier FAS Russia found that the group of persons including "EuroChem" Mineral and Chemical Company" OJSC and "Kovdorsky Mining-and-Processing Integrated Works" OJSC violated Clause 8 Part 1 Article 10 of the Federal Law "On Protection of Competition".

The group of persons including "EuroChem" Mineral and Chemical Company" OJSC and "Kovdorsky Mining-and-Processing Integrated Works" OJSC violated the antimonopoly legislation by creating discriminatory conditions for entry of "GMZ" Trading House" Ltd. to the market of apatite concentrate.

Recognized violation of the market of apatite concentrate constituted the grounds for imposing a fine under Article 14.31 of the Code of the Russian Federation on Administrative Violations - from one hundredth to fifteen hundredth of the proceeds gained by the violator from selling goods (works, services) on the market where the violation was committed.

According to FAS Russia, execution of the decision on the case and the determination, issued on its basis, will have positive impact on competitive environment on the market of apatite concentrate and will be conducive to stabilization of the situation on the market.

Reference:
Clause 8 Part 1 Article 10 of the Federal Law "On Protection of Competition" prohibits actions (lack of actions)of en economic entity that has dominant position, which result or can result in preventing, restricting or eliminating competition and (or) infringing the interests of other persons (entities), in particular, creating discriminating conditions.