Eurasian Natural Resources Corporation

Infobox Company
company_name = Eurasian Natural Resources Corporation
company_
company_type = Public (lse|ENRC)
foundation = 2006 (previously split entities)
location = London, Zürich & Astana
key_people = Sir David Cooksey, Chairman
Johannes Sittard, CEO
industry = Mining & Metals
products = Ferro Alloys, iron ore, alumina, aluminum, power generation and other materials
revenue = $4,106 million (2007)
operating_income = $1,421 million (2007)
net_income = $814 million (2007)
num_employees = circa 62,000 (2007)
homepage = [http://www.enrc.com 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. [ [http://www.enrc.com/files/pdf/ENRC_Prospectus_FINAL_Part_6.pdf ENRC Prospectus Part II] ]

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.

ENRC is one of Kazakhstan's largest companies, accounting for about four percent gross domestic product in 2006. 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. [ [http://www.forbes.com/free_forbes/2006/0327/164.html Emerging Market Gold] Forbes Magazine, 03/27/06.]

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. ENRC floated around 20% on the LSE, in December 2007. [ [http://www.marketwatch.com/news/story/kazakhstans-eurasian-natural-resources-list/story.aspx?guid=%7B07AF9E25-9B96-45E4-9694-DD5965BCF94C%7D Miner Eurasian Natural Resources to list on LSE] MarketWatch, 11/13/07] 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. [ [http://www.ftse.com/Media_Centre/index.jsp FTSE News] ]

References

External links

* [http://www.enrc.com/ Official site]