Type | Public limited company KASE: GB_ENRC) |
---|---|
Traded as | LSE: ENRC |
Industry | Metals and Mining |
Founded | 1994 (in its current form from 2006) |
Headquarters | UK, London |
Key people | Dr Johannes Sittard, Chairman Mr Felix Vulis, CEO |
Products | Ferrochrome Ferroalloys Iron Ore Alumina Aluminium Coal Power Generation Copper Cobalt |
Revenue | US$ 6,605 million (2010)[1] |
Operating income | US$ 2,710 million (2010)[1] |
Net income | US$ 2,197 million (2010)[1] |
Employees | Over 72,000 (2010)[2] |
Website | www.enrc.com |
Eurasian Natural Resources Corporation PLC (ENRC) (LSE: ENRC, KASE: GB_ENRC) is a diversified natural resources company headquartered in London, United Kingdom. It has activities in mining, processing, energy, logistics and marketing.
ENRC has its primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the Kazakhstan Stock Exchange.
Contents |
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.[3]
The company floated around 20% of its equity on the London Stock Exchange in December 2007[4] and joined the FTSE 100 in March 2008.[5]
In December 2009, as part of its diversification strategy, the Company completed the acquisition of Central African Mining Exploration Company (CAMEC).[6] CAMEC's operations incorporate the assets of copper and cobalt in the Democratic Republic of Congo, the development projects of coal in Mozambique, bauxite in Mali, platinum in Zimbabwe, and fluorspar in South Africa, as well as trucking and logistics business across the African continent.[7]
In February 2010 ENRC acquired a 90% interest in Chambishi Metals PLC,[8] a smelting facility in Zambia, together with a 100% interest in Comit Resources FZE,[9] a Dubai-based marketing and sales company that historically has handled Chambishi’s copper and cobalt sales. In August 2010 company acquired 50.5% of Camrose Resources Limited ('Camrose'). Camrose's assets are high quality copper and cobalt exploitation licences located in the DRC.[7]
In September 2010 ENRC acquired the outstanding 50% interest in Bahia Minerals BV and in October 2010 – 100% of Mineração Minas Bahia SA (MIBA) and 51% of Mineração Peixe Bravo SA (MPB).[10]
Operations
ENRC operates in Kazakhstan, China, Russia, Brazil and Africa (the Democratic Republic of Congo, Zambia, Mozambique and South Africa).[2] The Group incorporates six Divisions:[11]
- Ferroalloys
- Iron Ore
- Alumina and Aluminium
- Energy
- Other Non-ferrous
- Logistics
The Group’s assets in the Republic of Kazakhstan comprise Kazchrome, Zhairem GOK, SSGPO, Aluminium of Kazakhstan, Kazakhstan Aluminium Smelter (KAS), Eurasian Energy Corporation (EEC) and ENRC Logistics. Other assets, notably the Other Non-ferrous Division, are mainly located in Africa.[11]
Contributing significantly to Kazakhstan's GDP, the Group is now one of the world's largest producers of ferrochrome; one of the world's significant exporters of iron ore; the world's ninth largest producer of traded alumina; and one of the largest electricity providers in Kazakhstan.[12]
ENRC is one of Kazakhstan's largest companies, accounting for approximately 3% of Kazakhstan's GDP in 2009. ENRC currently employs over 70,000 people, of which 65,000 are located in Kazakhstan.[2]
Corporate affairs
Management
ENRC management team consists of:[13]
Dr Johannes Sittard | Chairman and non-executive Director |
Sir Richard Sykes | Senior Independent Director and Non-executive Deputy Chairman |
Mr Felix Vulis | Chief Executive Officer |
Ms Zaure Zaurbekova | Chief Financial Officer |
Mr Jim Cochrane | Chief Commercial Officer, Head of Sales & Marketing and Logistics |
Mr Randal Barker | General Counsel and Company Secretary |
Ms Mounissa Chodieva | Head of Investor & Public Relations |
Mr Beat Ehrensberger | Head of Mergers & Acquisitions |
Ownership
The top-five ENRC investors includes:[14]
Rank | Top Investors | Issued Capital |
---|---|---|
1 | Kazakhmys Plc | 26.00% |
2 | Mr Alexander Mashkevitch | 14.59% |
2 | Mr Alijan Ibragimov | 14.59% |
2 | Mr Patokh Chodiev | 14.59% |
5 | State Property & Privatisation Committee of Ministry of Finance of Kazakhstan | 11.65% |
References
- ^ a b c http://www.enrc.com/PageFiles/5041/23-03-11%20Announcement%20of%202010%20Preliminary%20Results.pdf
- ^ a b c "Key facts". ENRC. http://www.enrc.com/en-GB/About-Us/At-a-Glance/. Retrieved 18 April 2011.
- ^ ENRC Prospectus Part II
- ^ Miner Eurasian Natural Resources to list on LSE MarketWatch, 11/13/07
- ^ "FTSE News". Ftse.com. http://www.ftse.com/Media_Centre/index.jsp. Retrieved 18 April 2011.
- ^ "ENRC Africa offer for CAMEC has 93.55% acceptance". Ibtimes.co.uk. 8 December 2009. http://www.ibtimes.co.uk/articles/20091208/enrc-africa-offer-for-camec-has-93-55-acceptance.htm. Retrieved 18 April 2011.
- ^ a b "ENRC history". Enrc.com. http://www.enrc.com/en-GB/About-Us/Our-History/. Retrieved 18 April 2011.
- ^ ENRC buys 90% of Zambian copper and cobalt producer Chambishi Metals Financial Times, 20 February 2010
- ^ rappid. "ENRC buys central African smelter". Free-kaz.org. http://www.free-kaz.org/en/articles/213/enrc-buys-central-african-smelter. Retrieved 18 April 2011.
- ^ "Mining Journal – ENRC acquisitions". http://www.mining-journal.com/finance/enrc-acquisitions. Retrieved 19 October 2010.
- ^ a b "ENRC Divisions". Enrc.com. http://www.enrc.com/en-GB/Our-Divisions/. Retrieved 18 April 2011.
- ^ "ENRC Group Overview". Enrc.com. http://www.enrc.com/en-GB/About-Us/Group-Overview/. Retrieved 18 April 2011.
- ^ "ENRC Manangement". Enrc.com. http://www.enrc.com/en-GB/About-Us/Management1/Management/. Retrieved 18 April 2011.
External links
|
|