Company EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) commented its performance results in I-II quarters of 2008

11.06.08 20:47
/KASE, June 11, 08/ - Company EURASIAN NATURAL RESOURCES CORPORATION PLC (London), common shares of which are traded in the Kazakhstan Stock Exchange (KASE) category "A" official list, provided to KASE the press release of the following content: Quotation start Eurasian Natural Resources Corporation PLC ("ENRC", or, jointly with subsidiaries - the Group), holding company of a leading diversified group in the area of production and enrichment of minerals, based in Kazakhstan, will hold its annual general meeting today at 14:30 (standard British time) in Lanesborough Hotel at: Hyde Park Corner, London, SW1X 7TA. Sir David Cooksey, ENRC Chairman, in his address to shareholders will comment performance results and perspectives of the Group as follows: "As we already noted in our interim report of May 14, 2008, the first quarter of 2008 built up the basis for the successful year with positive perspectives on prices of our raw goods. Significantly increased the Group incomes, mainly at the expense of higher prices of raw products and in main production divisions incomes growth significantly exceeded expenses increase. Total production volumes increased despite unfavorable weather conditions and we observed significant increase of sales volume in divisions on production of ferroalloys, iron ore and electricity, and sales of aluminum. In the second quarter of 2008, the main trade tendencies of this year remain effective. Significant growth of prices will lead to the increase of incomes fro sales of ferroalloys and iron ore. In addition, we have the new source of funds from the electrolysis plant, the volume of sales of which in 2008, as expected, will make up about 100 000 tons. In addition to this, in the second quarter we completely purchased Serovski Plant of Ferroalloys in Russia, and certain additional assets (Serov), as well as bought 50% stake in exploration of iron ore deposit in Brazil through company Bahia Mineracao Limitada "BML". We also announced our intention to buy 50% of shares of Chinese enterprise of ferroalloys production, company Xinjiang Tuoli Taihang Ferro-Alloy Co. LTD, and that ENRC logistics division won the government tender of Kazakhstan on the project "Gates to China", the new railway road between Kazakhstan and China. We paid attention on yesterdays' message of Kazakhmys (Kazakhmys Plc) that the Government of Kazakhstan is intending to become its shareholder. Kazakhmys announced that the Government will exchange shares of ENRC to Kazakhmys shares, which allows Kazakhmys acquisition of additional 7.7% of ENRC shares. For additional information please contact: ENRC Mounissa Chodieva +44 (0) 20 7389 1879 James S, Johnson +44 (0) 20 7389 1862 Maryann Adams +44 (0) 20 7389 1886 M: Communications Hugh Morrison +44 (0) 20 7153 1534 Edward Olebard +44 (0) 20 7153 1523 Julia Kalcheva +44 (0) 20 7153 1517 Quotation end [2008-06-11]