ENRC examines the possibility of deal with mining Kazakhmys

/INTERFAX, London, March 12, 08/ - Kazakhstan feed holding Eurasian Natural Resources Corporation (ENRC) examines the possibility of deal with mining Kazakhmys Plc, is informed in the message of ENRC. Representative of holding had held the informal meetings with management of Kazakhmys, but the official suggestion was not made yet. At that ENRC notes that decision about official suggestion is not accepted and possibility of union with ENRC is only one of variants, corresponding to strategy of holding, aimed on growth of cost of shareholders' capital. Quotations of Kazakhmys after message of ENRC continued the growht, having grown by 14%. As it was informed, Kazakhmys is owing with 14.6% shares of ENRC, which in December offered on London stock exchange 21.3% shares (considering option) and borrowed 1.5 bn. sterling pounds. Kazakhmys in the end of October had finished the deal for purchasing of 18.8% shares of ENRC from chairman of Directors' board of Kazakhmys Vladimir Kim. Cost of option made $806.5 m. In result of deal Kazakhmys received the access to reserves of chrome, iron ore, aluminum and coal. Financing of purchase was made by account of own funds of company. ENRC consolidated assets of such enterprisers as Kazchrome, Aluminum of Kazakhstan, Kazakhstan electrolysis plant, Zhayremskiy ore mining and processing combine, Sokolovsko-Sarbayskoye ore mining and processing production union, Euroasian energy corporation and also ENRC Logistics и ENRC Marketing & Sales. 24.8% shares of ENRC belong to government of Kazakhstan. [2008-03-13]