1 Aug 2013 08:47
1 August 2013
Eurasian Natural Resources Corporation PLC
Response to RAID Allegations
London - Eurasian Natural Resources Corporation PLC ('ENRC') notes that on 30 July 2013 it was reported in the media that, RAID, a non-Governmental organisation, had written to the Takeover Panel, the Serious Organised Crime Agency and the Asset Freezing Unit of Her Majesty's Treasury ('HMT') seeking to halt the de-listing and transaction to take ENRC private. The letters are stated to allege that CAMEC plc ('CAMEC') breached sanctions against Zimbabwe prior to its acquisition by ENRC in 2009. These are extremely serious and unfounded allegations. Had RAID contacted the Company they would have been told that when ENRC acquired CAMEC it sought and obtained all necessary regulatory clearances and/or consents for the transaction including engaging with HMT and OFAC. ENRC is committed to full cooperation with all relevant regulatory bodies across its operations.
-ENDS-
For further information, please contact:
ENRC: Investor Relations | |
Mounissa Chodieva | +44 (0) 20 7389 1879 |
Charles Pemberton | +44 (0) 20 7104 4015 |
Alexandra Leahu | +44 (0) 20 7104 4134 |
ENRC: Press Relations | |
Julia Kalcheva | +44 (0) 20 7389 1861 |
Capital MSL (Press Relations Advisor to ENRC): | |
Richard Campbell Ian Brown | +44 (0) 20 7307 5334 +44 (0) 20 7307 5347 |
About ENRC
ENRC is a leading diversified natural resources group, performing integrated mining, processing, energy, logistics and marketing operations. The operations comprise: the mining and processing of chrome, manganese and iron ore; the smelting of ferroalloys; the production of iron ore concentrate and pellet; the mining and processing of bauxite for the extraction of alumina and the production of aluminium; the production of copper and cobalt; coal extraction and electricity generation; and the transportation and sales of the Group's products. The Group's production assets are largely located in the Republic of Kazakhstan; other assets, notably the Other Non-ferrous Division, are mainly located in Africa; the Group also has iron ore assets in Brazil. In 2012 the Group's entities employed on average 78,484 (2011: 77,441) people. The Group currently sells the majority of its products to Russia, China, Japan, Western Europe and the United States. For the twelve months ended December 31 2012, the Group had revenue of US$6,320 million (2011: US$7,705 million) and profit attributable to equity holders of the Company of US$(804) million (2011: US$1,974 million). ENRC has six operating Divisions: Ferroalloys, Iron Ore, Alumina and Aluminium, Other Non-ferrous, Energy and Logistics. ENRC is a UK company with its registered office in London. ENRC's shares are quoted on the London Stock Exchange ('LSE') and the Kazakhstan Stock Exchange ('KASE'). For more information on ENRC visit the Group's website at www.enrc.com.