Diversified mining group Eurasian Natural Resources Corporation reported a sharp drop in profit after trading was hit by a poor pricing environment, higher finance costs, increased effective tax rate and impairment at Boss Mining.The Kazakh miner said revenue during the half year declined by 1% to $3.2bn while underlying EBITDA fell by 17% to $944m. Operating profit fell 41.6% to $474m. ENRC, which is in the middle of a $4.6bn buyout by its founders and the Kazakh government which could potentially take the group private, said no interim dividend has been proposed compared to a payment of 6.5 cents the year before.Chief Executive Officer Felix Vulis said: "Our first half results reflect the impact of a weaker pricing environment for the majority of our products. Our operational achievements, as demonstrated through higher production, solid cashflows, and a rigorous focus on costs, have helped to mitigate the overall impact of lower prices." "We continued to invest in our business during the period making good progress at key projects in Kazakhstan and Africa." ENRC, which has been hit by corruption investigations and boardroom disagreements in recent years added, "It has been a difficult period for the company, not least with the on-going SFO investigation. We continue to work closely with them and remain committed to a full and transparent investigation of all our procedures and conduct."CJ