View source for Eurasian Natural Resources Corporation

{{Use dmy dates|date=April 2011}}
{{Infobox company
|name  =  Eurasian Natural Resources Corporation PLC
|logo  =  Eurasian Natural Resources Corporation (ENRC).svg
|type  =  [[Private company]] 
|foundation    =  1994 (in its current form from 2006)
|location      =  [[London]], [[United Kingdom]] 
|industry      =  Metals and Mining 
|products      =  [[Ferrochrome]]<br/>[[Ferroalloys]]<br/>Iron Ore<br/>Alumina<br/>Aluminium<br/>Coal<br/>[[Power Generation]]<br/>Copper<br/>[[Cobalt]]|
|revenue       =  US$ 6,320&nbsp;million <small>(2012)</small><ref name=prelims group=ENRC>[http://www.enrc.com/system/files/press/ENRC%20PLC%202012%20Preliminary%20Announcement%20FINAL.pdf Preliminary Results 2012]</ref>
|operating_income  =   US$ (374)&nbsp;million <small>(2012)</small><ref name=prelims group=ENRC/>
|net_income    =   US$ (852)&nbsp;million <small>(2012)</small><ref name=prelims group=ENRC/>
|num_employees  =  Over 72,000 <small>(2011)</small><ref name=glance group=ENRC>{{cite web|url=http://www.enrc.com/en-GB/About-Us/At-a-Glance/ |title=Key facts |publisher=ENRC |date= |accessdate=24 March 2012}}</ref>
|homepage       =  [http://www.enrc.com/ www.enrc.com]
}}

'''Eurasian Natural Resources Corporation PLC''' ('''ENRC''') ({{lse|ENRC}}, {{KASE|GB_ENRC}}) is a private, Kazakhstan/Central African-focused,<ref name=euroinvestor20130320>
{{cite news
|series=Base Metals Highlights: Top Stories of the Day: 
|title=ENRC Swings To Net Loss After $1.54 Billion Charge 
|url=http://www.euroinvestor.com/news/2013/03/20/base-metals-highlights-top-stories-of-the-day/12257402
|date=20 March 2013
}}</ref> [[Multinational corporation|multinational]] leading diversified natural resources company headquartered in London, United Kingdom. It has activities in integrated mining, processing, energy, logistics and marketing.

ENRC was formed in 1994,<ref group=ENRC>
{{cite report
|url=http://www.enrc.com/investors/group-overview
|publisher=ENRC
|date=2013
|title=Group Overview
}}</ref> listed on the [[London Stock Exchange]] in 2006 delisted after a near six-year spell in November 2013. A secondary listing and subsequent de-listing also took place on the [[Kazakhstan Stock Exchange]].

ENRC is now fully owned by ERG ([[Eurasian Resources Group]]), a private natural resources company headquartered in [[Luxembourg (city)|Luxembourg]], [[Grand Duchy of Luxembourg]]. It incorporates the assets of former FTSE-100 group, ENRC PLC, which it acquired in November 2013.

==History==

===Major events===
The assets of the company were acquired during the mid-1990s as part of the privatization process in [[Kazakhstan]].<ref name=MarketWatch20071113>
{{cite news 
|author=Polya Lesova
|url=http://www.marketwatch.com/story/kazakhstans-eurasian-natural-resources-to-list-on-lse
|title=Kazakhstans Eurasian Natural Resources to list on LSE
|publisher=MarketWatch
|date=13 November 2007
|accessdate=23 March 2013
}}</ref>

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.<ref name=ENRCProspectus2007 group=ENRC>
{{cite web
|url=http://enrc.g3dbuild.com/sites/enrc.g3dbuild.com/files/prospectus/ENRC_Prospectus_FINAL_Part_6.pdf 
|format=PDF
|title=ENRC Prospectus: PricewaterhouseCoopers LLP report 2006-June 2007 Eurasian Natural Resources Corporation PLC, 16 St James’s Street, London and Deutsche Bank AG, London Branch 
|year=2007
}}</ref>  In its regulatory report ENRC claimed revenues of US$3,256 million for the year ended 31 December 2006  and US$1,856 million for the six months ended 30 June 2007. By then ENRC was "the world's sixth largest iron ore exporter by volume and world's fifth largest supplier of traded alumina by volume.

The company floated around 18% of its equity on the [[London Stock Exchange]] in December 2007.<ref name=MarketWatch20071113>
{{cite news|url=http://www.marketwatch.com/news/story/kazakhstans-eurasian-natural-resources-list/story.aspx?guid=%7B07AF9E25-9B96-45E4-9694-DD5965BCF94C%7D|title=Miner Eurasian Natural Resources to list on LSE|publisher=MarketWatch|date=13 November 2007}}</ref>

In December 2009 the Company completed acquisition of the [[Central African Mining Exploration Company]] (CAMEC).<ref name="IBTimes20091208" /> 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.<ref name=history group=ENRC>
{{cite web
 |url=http://www.enrc.com/en-GB/About-Us/Our-History/ 
 |title=ENRC history 
 |publisher=Enrc.com 
 |date= 
 |accessdate=18 April 2011 
 |deadurl=yes 
 |archiveurl=https://web.archive.org/web/20110528004354/http://www.enrc.com:80/en-GB/About-Us/Our-History/ 
 |archivedate=28 May 2011 
 |df=dmy 
}}</ref>   
CAMEC's [[Mukondo Mine]] may be the richest cobalt reserve in the world. Copper from Mukondo is refined at the [[Luita]] plant, with planned capacity of 100,000 tonnes per year of copper cathode.<ref name=IntMining200807>{{cite web
 |url=http://www.infomine.com/publications/docs/InternationalMining/Chadwick2008t.pdf
 |title=CAMEC - The Cobalt Champion
 |publisher=International Mining
 |date=July 2008
 |accessdate=2011-11-18}}</ref>
In July 2009 CAMEC announced a long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China.<ref name="Amy Witherden">{{cite web
 |url=http://www.miningweekly.com/article/daily-podcast---july-6-2009-2009-07-06-2
 |title=Daily podcast - July 6, 2009
 |author=Amy Witherden
 |date=6 July 2009
 |work=Mining weekly
 |accessdate=2011-11-15}}</ref>

In February 2010 ENRC acquired a 90% interest in Chambishi Metals PLC,<ref name="FinancialTimes20100220" /> a smelting facility in Zambia, together with a 100% interest in Comit Resources FZE,<ref name=FreeKaz2011>
{{cite web
|url=http://www.free-kaz.org/en/articles/213/enrc-buys-central-african-smelter 
|title=ENRC buys central African smelter 
|publisher=Free-kaz.org 
|date= 
|accessdate=18 April 2011
}}</ref> 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 held five high quality copper and cobalt mining permits in the Democratic Republic of Congo (DRC).<ref name=history group=ENRC />
They include the [[Kolwezi tailings project]], which the DRC government had confiscated from [[First Quantum Minerals]] (FQM).
FQM had spent C$750 million developing the Kolwezi assets. ENRC paid $175 million for its majority stake in Camrose.<ref name="Loni Prinsloo">{{cite web
 |url=http://www.miningweekly.com/article/enrc-defends-drc-acquisition-slams-first-quantum-2010-09-09
 |title=ENRC defends DRC acquisition, hits back at First Quantum
 |author=Loni Prinsloo
 |date=9 September 2010
 |accessdate=2011-11-08}}</ref>

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).<ref name=miningjournal>
{{cite web
|url=http://www.mining-journal.com/finance/enrc-acquisitions
|accessdate=19 October 2010
|title=Mining Journal – ENRC acquisitions
}}</ref>

In March 2013 ENRC was forced to write down a US$1.5bn (£1bn) loss due largely to an "onerous" locked in contract with the Russian aluminium company, Rusal with whom they must provide aluminium at what is now below market price (Telegraph 2013).<ref name=TelegraphUK20130321>
{{cite news
|title=ENRC dragged to loss by £1bn of write-downs
|author=Emma Rowley
|url=http://www.telegraph.co.uk/finance/newsbysector/industry/mining/9945089/ENRC-dragged-to-loss-by-1bn-of-write-downs.html
|publisher=Daily Telegraph
|location=UK
|date=21 Mar 2013
|accessdate=23 March 2013
}}</ref>

On 21 April 2013, The Sunday Times revealed that three founders, Alexander Mashkevitch, Patokh Chodiev and Alijan Ibragimov, were behind a possible takeover bid for ENRC.
<ref>{{cite web|author=Danny Fortson |url=http://www.thesundaytimes.co.uk/sto/business/Industry/article1248609.ece?CMP=OTH-gnws-standard-2013_04_20 |title=Tycoons plot to grab ENRC on the cheap |publisher=The Sunday Times |date= |accessdate=2013-04-23}}</ref> Following this news, three senior executives resigned, and a fourth announced a leave of absence. These included the Head of Human Resources and the Company Secretary.<ref>{{cite web|last=Guthrie |first=Jonathan |url=http://www.ft.com/cms/s/0/c9995f16-aaa7-11e2-9a38-00144feabdc0.html#axzz2RAz1361I |title=Three more executives leave ENRC |publisher=FT.com |date=2013-04-18 |accessdate=2013-04-23}}</ref> On 23 April Mehmet Dalman, the chairman of ENRC, also resigned and next day the group confirmed that Gerhard Ammann, a non-executive director of ENRC and president of Bank Von Roll, a Swiss private bank, would replace Mr Dalman.<ref>[http://www.ft.com/cms/s/0/15e61abe-ac31-11e2-a063-00144feabdc0.html#axzz2RvlLN1FR ENRC chairman quits besmirched miner] Financial Times, 24 April</ref>

The [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] launched a criminal investigation into ENRC's business practices in April 2013.
<ref>{{cite news
|title=ENRC: Serious Fraud Office launches criminal investigation
|author1=Simon Goodley |author2=Mark Hollingsworth |author3=Rupert Neate |url=https://www.theguardian.com/business/2013/apr/25/serious-fraud-office-enrc-documents
|publisher=The Guardian
|location=UK
|date=25 April 2013
|accessdate=25 April 2013
}}</ref>

ENRC annual report released on 30 April said that UK authorities are investigating whether ENRC breached Britain's rules for listed companies, specifically with acquisitions made in the Democratic Republic of Congo and a 2012 sale of railway line repair company Zhol Zhondeushi to a company connected to the family of one of the miner's co-founders.<ref>[http://www.reuters.com/article/2013/04/30/enrc-investigations-idUSL6N0DH5AW20130430 ENRC warns shareholders of more questions on Congo] Reuters, 30 April 2013</ref>

In November 2013 ENRC de-listed from the LSE after the Groups founders gained acceptances from 96.7 percent of shareholders for their offer - of $2.65 in cash and 0.23 of a Kazakhmys share for each one in ENRC - to acquire the company along with the Kazakh government.<ref>[https://www.bloomberg.com/news/2013-10-25/enrc-founders-plan-nov-25-delisting-as-96-7-accept-bid.html ENRC Founders Plan 25 Nov. Delisting as 96.7% Accept Bid] Bloomberg, 25 October 2013</ref>

In February 2014, it was reported that the firm would have to sell its international assets, including its lucrative copper mines in the [[Democratic Republic of Congo]], after the company’s founders came under increased pressure to repay the large loan they had taken out to privatise ENRC.<ref>{{Citation
| url = http://www.reuters.com/article/2014/02/03/us-enrc-sale-idUSBREA120B320140203
| title= ENRC could sell precious DRC mines to repay costly debt
| year = 2014
| publisher = [[Reuters]]
| publication-place = International
}}</ref>

==Operations==
ENRC operates in Kazakhstan, China, Russia, Brazil and Africa (the Democratic Republic of Congo, Zambia, Mozambique and South Africa).<ref name=glance group=ENRC>
{{cite web
|url=http://www.enrc.com/en-GB/About-Us/At-a-Glance/ 
|title=Key facts 
|publisher=ENRC 
|date= 
|accessdate=24 March 2012}}</ref>  The Group incorporates six Divisions (ENRC 2013): Ferroalloys, Iron Ore, Alumina and Aluminium, Energy, Other Non-ferrous, Logistics
<ref name=divisions group=ENRC>
{{cite web
|url=http://www.enrc.com/our-divisions
|title=ENRC Divisions 
|publisher=ENRC
|date= 
|accessdate=23 March 2013}}</ref>

===Ferroalloys===
ENRC’s largest division is its Ferroalloys Division (ENRC 2013).<ref name=divisionsferroalloys group=ENRC>
{{cite web
|url=http://www.enrc.com/our-divisions/ferroalloys
|title=ENRC Divisions: Ferroalloys 
|publisher=ENRC
|date= 
|accessdate=23 March 2013}}</ref> ENRC is one of the world’s largest ferrochrome producers (ENRC 2013).<ref name=divisionsferroalloys group=ENRC /> ENRC's [[Kazchrome]] in the Republic of Kazakhstan, integrates four operating companies: Donskoy Ore Mining & Processing Plant, Aktobe Ferroalloys Plant, Aksu Ferroalloys Plant and Kazmarganets Mining Enterprise.<ref name=divisionsferroalloys group=ENRC />  ENRC's [[Zhairem GOK]], one of the "largest manganese ore mining and processing plants" in Kazakhstan, is a "major supplier of manganese and ferromanganese concentrates to customers throughout Russia, Ukraine, Central Asia and China (ENRC 2013)."<ref name=divisionsferroalloys group=ENRC />

===Energy===
The ENRC is one of the largest electricity providers in Kazakhstan, accounting for approximately 16.3% of the country's recorded electricity production in 2011.<ref>[http://www.enrc.com/about-us/glance ENRC: About us]</ref>

===ENRC Operations in the Republic of Kazakhstan===

The ENRC's assets in the Republic of Kazakhstan comprise [[Kazchrome]], Zhairem GOK, SSGPO, Aluminium of Kazakhstan, Kazakhstan Aluminium Smelter (KAS)<ref name=divisions group=ENRC /><ref name=divisionsferroalloys group=ENRC />

ENRC is one of the world’s largest ferrochrome producers (ENRC 2013).<ref name=divisionsferroalloys group=ENRC /> ENRC's [[Kazchrome]] in the Republic of Kazakhstan, integrates four operating companies: Donskoy Ore Mining & Processing Plant, Aktobe Ferroalloys Plant, Aksu Ferroalloys Plant and Kazmarganets Mining Enterprise.<ref name=divisionsferroalloys group=ENRC />

Contributing significantly to Kazakhstan's GDP, 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.<ref name=about group=ENRC>
{{cite web
|url=http://www.enrc.com/en-GB/About-Us/Group-Overview/ 
|title=ENRC Group Overview 
|publisher=Enrc.com 
|date= 
|accessdate=18 April 2011}}</ref>

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.<ref name=glance group=ENRC />

====ENRC Acquisition of Central African Mining Exploration Company (CAMEC)====

In December 2009 ENRC acquired 95.40% of the shares of [[Central African Mining Exploration Company]] (CAMEC)<ref name=IBTimes20091208>
{{cite web
|url=http://www.ibtimes.co.uk/articles/20091208/enrc-africa-offer-for-camec-has-93-55-acceptance.htm 
|title=ENRC Africa offer for CAMEC has 93.55% acceptance 
|publisher=Ibtimes.co.uk |date=8 December 2009 
|accessdate=18 April 2011}}</ref> 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.<ref group="ENRC" name="history" /> ENRC had made a £584-million cash offer in September 2008 (Webb 18 September 2009).<ref>{{cite web
 |url=http://www.miningweekly.com/article/enrc-to-make-584m-offer-for-camec-2009-09-18
 |title=ENRC to make £584m offer for Camec
 |work=[[Mining Weekly]]
 |author=Mariaan Webb
 |date=18 September 2009
 |accessdate=2011-11-15}}</ref>
The chairperson [[Phillippe Edmonds]] and CEO Andrew Groves both resigned when the deal was closed in November 2009.<ref>{{cite web
 |url=http://www.miningweekly.com/article/edmonds-groves-resign-from-camec-board-after-enrc-takeover-2009-11-11
 |title=Edmonds, Groves resign from Camec board after ENRC takeover
 |work=Mining Weekly
 |date=11 November 2009
 |accessdate=2011-11-15}}</ref>
  
CAMEC's [[Mukondo Mine]] may be the richest cobalt reserve in the world. Copper from Mukondo is refined at the [[Luita]] plant, with planned capacity of 100,000 tonnes per year of copper cathode.<ref name="IntMining200807" />
In July 2009 CAMEC announced a long term agreement under which CAMEC would deliver its entire annual production of cobalt in concentrate from Mukondo Mountain to Zhejiang Galico Cobalt & Nickel Materials of China.<ref name="Amy Witherden"/>

====ENRC Acquisition of Camrose Resources Limited ====

ENRC's acquisition 50.5% of Kolwezi Mine Tailings (KWT) a "multi-billion dollar copper and cobalt tailings reprocessing facility" <ref name=FirstQuantumVSDRC>
{{cite web
|title=Fasken Martineau advises First Quantum Minerals on US$1.25B deal
|url=http://lexpertblog.com/2012/04/05/fasken-martineau-advises-first-quantum-minerals-on-us1-25b-deal
|date=2 March 2012
|publisher=Law Expert Blog
|accessdate=23 March 2013
}}</ref> that had been expropriated in 2009 by the DRC from Vancouver, Canada-based First Quantum Minerals through [[Dan Gertler]]'s newly formed [[British Virgin Island#Tax haven|British Virgin Island]]-based company, [[Highwinds]], was the last of a series of ENRC of Congolese mining asset acquisitions in roughly an 11-month period.<ref name=CongoLeaks201111>
{{cite report
|url=http://congoleaks.blogspot.ca/2011/11/initial-drc-report.html
|title=
|publisher=Congo Leaks
|date=November 2011
|accessdate=23 March 2013
}}</ref> First Quantum Minerals had completed 75 per cent of the construction and the lucrative facility was almost ready to be operational when it was seized by the government and handed to <ref name=FirstQuantumVSDRC /> This led to First Quantum Minerals v Highwinds and others, a case concerning the expropriation of mining licences in the Democratic Republic of Congo. DRC passed the concession to a new joint venture Metalkol Sarl, encompassing state-owned Gecamines (30%) and [[Dan Gertler]]'s newly formed British Virgin Island-based company, [[Highwinds]] (70%).<ref name=FirstQuantumVSDRC /><ref name=GecaminesHighwinds2012>
{{cite web
|url=http://www.mining.com/meet-the-israeli-middleman-said-to-have-stripped-and-flipped-first-quantums-drc-mine-76979/
|title=Meet the Israeli middleman said to have 'stripped and flipped' First Quantum's DRC mine
|author=Frik Els
|date=22 August 2012
|accessdate=23 March 2013
|publisher=Mining: Your Source of Global Mining News
}}</ref>

[[Camrose Resources Limited]] ('Camrose') "owned British Virgin Island-based new company, [[Highwind Group]] which had a 70% interest in the Metalkol Sarl, which in turn owned the exploitation licence for the Kolwezi tailings site  (Law Expert March 2, 2012)." <ref name="FirstQuantumVSDRC" /> Camrose's other assets included a "64% stake in Canada listed [[Africo Resources]] which held a 75% interest in Kalukundi exploitation licence as well as 56% indirect interest in Comide Sprl, which held the exploitation licence for Mashitu, Pangalume and Kii tenements."<ref name="FirstQuantumVSDRC" />

The [[Kolwezi tailings project]], is a lucrative copper- and cobalt-extractions projects mining older mines' tailings ponds, partly owned and operated by [[First Quantum Minerals Ltd.]], a Vancouver, British Columbia based mining and metals company, until its forced closure in September 2009 when the DRC government revoked its license and confiscated the holdings.<ref name="Loni Prinsloo"/><ref name=InternationalFinanceCorp>{{cite web
 |url=http://www.ifc.org/ifcext/spiwebsite1.nsf/f451ebbe34a9a8ca85256a550073ff10/49f16fb4c528c963852576ba000e2d57?OpenDocument
 |title=Kingamyambo Musonoi Tailings SARL
 |publisher=International Finance Corp
 |accessdate=2011-11-04}}</ref><ref>{{cite web
 |url=https://www.theguardian.com/business/2010/sep/06/congo-copper-mine-first-quantum-enrc
 |title=Mining companies clash over Congo copper mine
 |author=Tim Webb
 |work=The Guardian
 |date=6 September 2010
 |accessdate=2011-11-07}}</ref><ref>{{cite web
 |url=http://www.proactiveinvestors.com/companies/news/2450/first-quantum-minerals-suspends-kolwezi-tailings-copper-mine-development-2450.html
 |title=First Quantum Minerals suspends Kolwezi Tailings Copper Mine Development
 |date=18 Sep 2009
 |work=Proactive Investors
 |accessdate=2011-11-07}}</ref> First Quantum spent $750 million on acquiring and developing the property. First Quantum took out an action against the DRC government in the International Chamber of Commerce Court of Arbitration.<ref>{{cite web
 |url=http://www.miningweekly.com/article/first-quantum-suspends-operations-at-drc-mine-permit-revoked-2010-08-30' 
 |title=DRC withdraws permit for First Quantum's Frontier mine 
 |work=Mining Weekly 
 |author=Chanel de Bruyn 
 |date=30 August 2010 
 |accessdate=2011-11-07 
}}{{dead link|date=December 2016 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>

Fasken Martineau, a leading international business law and litigation firm recovered an almost unprecedented US$1.25B in the dispute between First Quantum Minerals and the DRC. As part of the settlement Eurasian Natural Resources Corporation (ENRC) purchased First Quantum's residual claims and assets in the DRC.<ref name=FirstQuantumVSDRC />

In August 2010 ENRC acquired 50.5% of [[Camrose Resources Limited]] ('Camrose'), which at that time held a 70% indirect interest in Metalkol Sarl, owner of the Kolwezi copper tailings project.<ref name=history group=ENRC /> In 2010 ENRC paid $175 million for its majority stake in Camrose.<ref name="Loni Prinsloo"/> On 28 December 2012, 99 percent of Eurasian Natural Resources Corp shareholders approved the US$550 million purchase of the remaining 49.5% per cent of Camrose Resources Limited still held by [[Dan Gertler]]'s Gibraltar-registered (Wild et al. 2013 page 68)<ref name=BloombergMarkets201301>
{{cite news 
|title=Rich Man, Poor Country 
|date=January 2013 
|magazine=Bloomberg Markets 
|pages=66–76  
|author2= Franz Wild 
|author1=Michael J. Kavanagh 
|author3=Jonathan Ferziger  }}</ref> [[Fleurette Properties Ltd.]]<ref name=MiningJournalGertlerCamrose>
{{cite news
|title=ENRC shareholders approve Gertler deal
|url=http://www.mining-journal.com/finance/enrc-shareholders-approve-gertler-deal
|publisher=Mining Journal
|date=28 December 2012
|accessdate=23 March 2013
}}</ref>

===ENRC Operations in Zambia===
In February 2010 ENRC purchased a 90% interest in Chambishi Metals PLC, a copper and cobalt producer and smelter located in Zambia.<ref name=FinancialTimes20100220>
{{cite web
|url=http://news.reportlinker.com/n02024772/ENRC-buys-90-of-Zambian-copper-and-cobalt-producer-Chambishi-Metals.html
|title=ENRC buys 90% of Zambian copper and cobalt producer Chambishi Metals
|publisher=Financial Times
|date=20 February 2010
}}</ref><ref name="FreeKaz2011" /><ref name=glance group=ENRC />

===ENRC Operations in Russia===

On 4 April 2008 Eurasian Natural Resources Corporation PLC finalized the purchase, first signed on 4 December 2007, of the controlling interest in Serov Ferrochrome Producer (Serov SPA) in [[Sverdlovsk Oblast|Sverdlovsk]] region, eastern [[Russia]] for US$210 million from various entities affiliated with Mr. P Chodiev, Mr. An Ibragimov and Mr. A Machkevitch, founding shareholders in ENRC. Sir [[David Cooksey]], the Non-Executive Chairman of ENRC noted this was ENRC's first transaction outside of Kazakhstan. The purchase agreement (4 December 2007) gives ENRC the economic benefit from all dividends and distributions made after 4 December 2007. The acquisition will provide a strong platform for ENRC in Russia. The purchase provided vertical integration with companies that ENRC operates: [[Serov Ferrochrome Factory]], [[Saranovskaya Mine Rudnaya]] and [[Serov Metalconcentrate Works]]. Dr. [[Johannes Sittard]], Chief Executive Officer of ENRC, described how the purchase of Serov gave ENRC an asset base and strong platform in Russia.<ref name=ENRCSEROV group=ENRC>
{{cite news |url=http://www.enrc.com/ru/regulatory_news_article/1674 
|title=ENRC Regulatory News
|location=Russia 
|date=4 April 2008 
|publisher=ENRC 
|accessdate=23 March 2013}}</ref>

==Corporate affairs==

In April 2008 the Founder Shareholders of Eurasian Natural Resources Corporation Group "ultimately indirectly owned equally"  [[Industrial Metals Technology Limited]], [[Chesswood Holdings Limited]], [[Blackmore Holdings Limited]], [[Prentice Holdings Limited]], [[Cretown Corporate Advisory BV]], [[International Mineral Resources BV]] ('IMR') Serov Ferrochrome Producer (Serov SPA).<ref name=ENRCSEROV group=ENRC />  Mr. P Chodiev, Mr. An Ibragimov and Mr. A Machkevitch were Founder Shareholders of Eurasian Natural Resources Corporation Group. [[Johannes Sittard]], was the Chief Executive Officer of ENRC and Sir [[David Cooksey]] was the Non-Executive Chairman of ENRC.<ref name=ENRCSEROV group=ENRC />

===Senior management===

ENRC's senior management team consisted of:<ref name=about group=ENRC>
{{cite web|url=http://www.enrc.com/en-GB/About-Us/Management1/Management/ |title=ENRC Manangement |publisher=Enrc.com |date= |accessdate=18 April 2011}}</ref>
{| border="1"
 |[[Mehmet Dalman|Mr Mehmet Dalman]]
 |Chairman and non-executive Director
 |-
 |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 Beat Ehrensberger
 |General Counsel
 |-
 |Mrs Victoria Penrice
 |Company Secretary
 |-
 |Ms Mounissa Chodieva
 |Head of Investor & Public Relations
 |-
 |}

Upon the acquisition by ERG, many of the previous senior management did not transfer to the new group, left their positions or were replaced in a new structure.

===Ownership===
ENRC is now owned fully by ERG ([[Eurasian Resources Group]]), a private company headquartered in [[Luxembourg (city)|Luxembourg]], [[Grand Duchy of Luxembourg]].

==Notes==
 {{Reflist|group=notes}}

==ENRC Publications==
 {{Reflist|group=ENRC}}

==See also==
{{Portal|Companies}}
*[[Central African Mining Exploration Company]]
*[[Mining in the Democratic Republic of the Congo]]
*[[Katanga (disambiguation)|Katanga]]
*[[Mukondo Mine]]
*[[Ferroalloys]]
*[[Camrose Resources Limited]]

==References==
{{reflist|colwidth=30em}}

==External links==
*{{official website|http://www.enrc.com/}}
{{Clear}}

{{Energy in the United Kingdom|companies}}


[[Category:Eurasian Natural Resources Corporation| ]]
[[Category:Mining companies of the United Kingdom]]
[[Category:Cobalt mining companies]]
[[Category:Copper mining companies]]
[[Category:Iron ore mining companies]]
[[Category:Companies based in London]]
[[Category:Mining companies of Kazakhstan]]
[[Category:Mining companies of the Democratic Republic of the Congo]]
[[Category:Ferroalloys]]
[[Category:Non-renewable resource companies established in 1994]]
[[Category:1990s establishments in the Democratic Republic of the Congo]]
[[Category:1994 establishments in England]]