/KASE, August 27, 09/ - EURASIAN NATURAL RESOURCES CORPORATION
PLC (London), common shares of which are listed on Kazakhstan Stock
Exchange (KASE), provided KASE with a press release dated August 19, 2009:
Quotation beginning
London - Eurasian Natural Resources Corporation PLC ('ENRC' or, together with
its subsidiaries, the 'Group'), the holding company of a leading diversified
natural resources group principally based in Kazakhstan, today announces its
Production Report for the Second Quarter ended 30 June 2009.
Overall Group production volumes in the quarter ended 30 June 2009 improved
on the levels of Q1 2009. Production volumes in the Ferroalloys and Iron Ore
Divisions increased substantially compared to Q1 2009, whilst in the Alumina and
Aluminium Division production volumes were sustained at existing capacity
levels. Ore grades remained broadly consistent in all products. In the Energy
Division, electricity generation was steady but internal sales increased
significantly on Q1 2009. Coal production volumes reduced, mainly due to lower
external demand. Logistics volumes saw a small increase compared to Q1 2009.
- Ferroalloys Division (excluding Serov and Tuoli). Production volumes
remained below the comparable period of 2008. The decrease in production
in Q2 2009 versus Q2 2008 was:
- (17.2)% for saleable chrome ore;
- (29.2)% for saleable manganese concentrate; and
- (17.9)% for total ferroalloys, with silicomanganese production broadly
steady.
Ferrochrome production decreased (10.6)% compared to Q2 2008, reflecting
previously announced production cutbacks for the Division, but increased 35.8%
from Q1 2009. Serov added saleable chrome ore production of 11 kt and total
ferroalloys production of 25 kt. Tuoli's output was minimal in Q2 2009, with one
furnace restarted at the end of June.
- Iron Ore Division. Production volumes decreased compared to Q2 2008,
reflecting the previously announced production cutbacks for the Division:
- (22.0)% for iron ore extraction;
- (19.7)% for primary concentrate; and
- (17.6)% for saleable ore.
In Q2 2009, compared to Q2 2008, there was a change in the saleable mix with
an increased proportion of saleable concentrate. Pellet production declined
(36.5)% whilst saleable concentrate production was broadly steady. Against Q1
2009, pellet production increased 63.5% and saleable concentrate production
rose 22.0%.
- Alumina and Aluminium Division. Bauxite extraction and production
volumes of saleable alumina remained stable, with an increase of 0.3%
compared to Q2 2008. The Division produced 30 kt of aluminium, in line with
the Phase 1 run rate capacity.
- Energy Division. Coal production volumes decreased (6.6)% compared to
Q2 2008, in response to a milder winter. Electricity generation increased
17.5% compared to Q2 2008, reflecting increased available capacity. Internal
sales rose 29.4% against Q1 2009 to support higher production levels, with
overall generation broadly steady.
- Logistics Division. The tonnage of goods transported by railway decreased
(10.7)% versus the comparable period in 2008, as a result of reduced activity
in the principal operating Divisions; volumes rose 4.2% against Q1 2009.
Dr Johannes Sittard, Chief Executive Officer, said, "We are particularly pleased
to report for Q2 2009 increased production in the Ferroalloys and Iron Ore
Divisions. This continued the trends experienced since the beginning of the year
and reflected better than expected sales volumes. We continue to closely monitor
production levels and the demand outlook and remain focused on the control of
inventory".
For further information please contact:
ENRC: Investor Relations
Mounissa Chodieva +44 (0) 20 7389 1879
James S. Johnson +44 (0) 20 7389 1862
Marianna Adams +44 (0) 20 7389 1886
ENRC: Corporate Communications
Julia Kalcheva +44 (0) 20 7389 1861
M: Corporate Communications
Hugh Morrison +44 (0) 20 7153 1534
Edward Orlebar +44 (0) 20 7153 1523
Elly Williamson +44 (0) 20 7153 1539
Quotation end
The press release with the production report for Q2 2009 is available at the
KASE website at:
-
http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_q2_reliz_190809.pdf - in
Russian;
-
http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_q2_reliz_190809e.pdf -
In English.
[2009-08-27]