ENRC.L Regulatory News (ENRC)

26 Jan 2010 17:34



26 January 2010

Eurasian Natural Resources Corporation PLC

Directorate Change

London - Eurasian Natural Resources Corporation PLC ('ENRC' or 'the Group') announces the appointment of Professor Dr Dieter Ameling to the Board as an independent Non-executive Director of the Group with effect from 26 January 2010.

Professor Ameling (68) is currently a Senior Counselor of ThyssenKrupp Steel AG, to which he was appointed in 2008, and is a full associate professor at the Technical University Clausthal.

Professor Ameling initially studied metallurgy at the Technical University Clausthal, beginning in 1961,  receiving his Masters degree in 1967 and his Doctoral degree in 1971. 

Professor Ameling's working career began at Röhrenwerke Bous/Saar and Hamburger Stahlwerke. He later became Managing Director of the Thyssen Niederrhein AG, Director of Industrial Engineering with Thyssen Stahl AG, Executive Member of the Managing Board of Directors of Saarstahl AG and, finally, Executive Chairman of the Managing Board of Directors of Krupp VDM GmbH. In 2000 he became Chairman of the Steel Institute VDEh and President of the German Steel Federation. In these positions he was involved in many other steel and related organisations, including the Max Planck Institute for Iron and Steel Research. Beyond his steel related activities he was a Member of the Board of the Federation of German Industries (BDI) from 2001 to 2008. On behalf of World Steel Association (the former International Iron and Steel Institute) he was the chairman of two international projects: 'Steel 2010 in China' and 'Steel 2020 in India'.

Dr Johannes Sittard, Chairman, said: "The appointment of Professor Dr Ameling as an independent Non-executive Director is a valuable benefit to ENRC. His outstanding knowledge of the industry can only enhance our progress as a FTSE 100 Group and we look forward to welcoming him to the Board."

The above disclosure is made pursuant to paragraph 9.6.14R of the Listing Rules. There are no other disclosures to be made pursuant to paragraph 9.6.13R (1) - (6) of the Listing Rules.

- ENDS -

  For further information, please contact:

About ENRC

ENRC is a leading diversified natural resources group, performing integrated mining, processing, energy, logistics and marketing operations. The operations of the Group comprise: the mining and processing of chrome, manganese and iron ore; the smelting of ferroalloys; the production of iron ore pellets; the mining and processing of bauxite for the extraction of alumina and the production of aluminium; coal extraction and electricity generation; the transportation and sales of the Group's products and, with the acquisition of CAMEC, the production of copper and cobalt. ENRC's production assets are largely located in the Republic of Kazakhstan; CAMEC is located in Africa. In 2008, the Group accounted for approximately 5 per cent. of Kazakhstan's GDP. The Group currently sells the majority of its products to Russia, China, Japan, Western Europe and the United States. The Group's entities, in the first-half of 2009, employed approximately 64,160 (H1 2008: 67,450) people, including about 3,000 added in H1 2008 with the acquisition of Serov and a further 600 with Tuoli in H2 2008. For the half-year ended 30 June 2009, the Group had revenue of US$1,695 million (2008: US$3,442 million) and profit attributable to equity shareholders of the Group of US$553 million (2008: US$1,343 million). ENRC has, with the acquisition of CAMEC, six key divisions: Ferroalloys, Iron Ore, Alumina and Aluminium, Energy, Logistics and Other Non-ferrous. ENRC is a UK company with its registered office in London. ENRC's shares are quoted on the London Stock Exchange and the Kazakhstan Stock Exchange. For further information please see the Group's website, www.enrc.com.

Forward-looking statement

This announcement includes statements that are, or may be deemed to be, 'forward-looking statements'. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'believes', 'estimates', 'plans', 'projects', 'anticipates', 'expects', 'intends', 'may', 'will', or 'should' or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include matters that are not historical facts or are statements regarding the Group's intentions, beliefs or current expectations concerning, among other things, the Group's results of operations, financial condition, liquidity, prospects, growth, strategies, and the industries in which the Group operates. Forward-looking statements are based on current plans, estimates and projections, and therefore too much reliance should not be placed upon them. Such statements are subject to risks and uncertainties, most of which are difficult to predict and generally beyond the Group's control. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. The Group cautions you that forward-looking statements are not guarantees of future performance and that if risks and uncertainties materialise, or if the assumptions underlying any of these statements prove incorrect, the Group's actual results of operations, financial condition and liquidity and the development of the industry in which the Group operates may materially differ from those made in, or suggested by, the forward-looking statements contained in this announcement. In addition, even if the Group's results of operations, financial condition and liquidity and the development of the industry in which the Group operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in future periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements including, without limitation, general economic and business conditions, industry trends, competition, commodity prices, changes in regulation, currency fluctuations, changes in business strategy, political and economic uncertainty. Subject to the requirements of the Prospectus Rules, the Disclosure and Transparency Rules and the Listing Rules or any applicable law or regulation, the Group expressly disclaims any obligation or undertaking publicly to review or confirm analysts expectations or estimates or to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any changes in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.