Eurasian Natural Resources Corporation
| File:Eurasian National Resources Corporation.svg | |
| Company type | Public (LSE: ENRC) |
|---|---|
| Industry | Mining & Metals |
| Founded | 2006 (previously split entities) |
| Headquarters | London, Zürich & Astana |
Key people | Sir David Cooksey, Chairman Johannes Sittard, CEO |
| Products | Ferro Alloys, iron ore, alumina, aluminum, power generation and other materials |
| Revenue | $4,106 million (2007) |
| $1,421 million (2007) | |
| $814 million (2007) | |
Number of employees | circa 62,000 (2007) |
| Website | www.enrc.com |
Eurasian Natural Resources Corporation (ENRC Group) (LSE: ENRC) is a diversified natural resources group with integrated mining, processing, energy and logistical operations. ENRC contains the Kazakh assets of Kazchrome, Aluminium of Kazakhstan, Kazakhstan Aluminium Smelter, Zhairem GOK, SSGPO iron ore plant and Eurasian Energy Corporation, as well as ENRC Logistics and ENRC Marketing & Sales.
History
The assets of the Company were acquired during the mid-1990s as part of the privatisation process in Kazakhstan. The Company in its present form was established in 2006 as part of a re-organisation to consolidate a series of businesses into one group.[1]
Operations
ENRC is the world's largest producer of ferrochrome on a chrome content basis. Ferrochrome is one of the input materials for stainless steel. ENRC Group also holds a quarter of the world's reserves of chromium and supplies two-fifths of the world's gallium, a metal used in semiconductors. [2]
ENRC is one of Kazakhstan's largest companies, accounting for about four percent gross domestic product in 2006. [3] The company's main assets are located in Kazakhstan and are predominantly focused on the production of ferro alloys, iron ore and aluminum.
At the time of the flotation, the Kazakh government owned 24.8 percent in ENRC. Kazakh copper company Kazakhmys held an 18.8 percent stake, while the rest was controlled by metals magnates Patokh Chodiev, Alexander Mashkevich and Alijan Ibragimov. [4][5]
ENRC has appointed David Cooksey, chairman of Britain's London & Continental Railways Ltd, as its non-executive chairman and that Richard Sykes, former chairman of drugmaker GlaxoSmithKline is non-executive director.[6]. ENRC floated around 20% on the LSE, in December 2007. [7] Dr. Johannes Sittard is the current CEO.
ENRC joined the FTSE 100 in March 2008 in the first reshuffle of the index after its public floation.[8]
References
- ^ ENRC Prospectus Part II
- ^ [1] The Guardian newspaper UK, 11/14/07.
- ^ [2] Reuters - Nov 13
- ^ [3] The Guardian newspaper UK, 11/14/07
- ^ Emerging Market Gold Forbes Magazine, 03/27/06.
- ^ [4] The Guardian newspaper UK, 11/14/07
- ^ Miner Eurasian Natural Resources to list on LSE MarketWatch, 11/13/07
- ^ FTSE News
External links
- Official site
- Miner Eurasian Natural Resources to list on LSE - MarketWatch - 11/13/07
- Kazakh miner ENRC plans London IPO - The Guardian UK - 11/14/07
- Financial Times - September 15 2006
- Forbes Magazine - Emerging Market Gold
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