Kazakh ENRC to acquire outstanding shares in Shubarkol Komir
Azerbaijan, Baku, April 3 / Trend E. Kosolapova/
Shareholders of the Kazakh metallurgical company Eurasian Natural Recourses Corporation (ENRC) voted for acquisition of the outstanding shares in Shubarkol Komir company at the reconvened General Meeting on April 2, ENRC reported.
According to the company, the Board believes that the acquisition of the remaining shares in Shubarkol will help the Group to meet the growing needs of its businesses in Kazakhstan.
Shubarkol is a thermal coal producer in Kazakhstan. In 2009 ENRC acquired 25 percent interest in the company.
Eurasian Natural Resources Corporation (ENRC) is one of the leading diversified natural resources groups with integrated mining, processing, energy, logistical and marketing operations. ENRC production assets are mainly located in Kazakhstan. Moreover, the company operates in China, Russia, Brazil and Africa (the Democratic Republic of Congo, Zambia, Mozambique and South Africa). ENRC is the world's largest producer of ferrochrome on a chrome content basis and one of the world's significant iron ore and alumina producers.