/KASE, February 8, 10/ - EURASIAN NATURAL RESOURCES CORPORATION
PLC (London), common shares of which are present in Kazakhstan Stock
Exchange (KASE) official list, provided to KASE the following press release of
February 3, 2010:
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London - Eurasian Natural Resources Corporation PLC ('ENRC' or, together with
its subsidiaries, the 'Group'), today announces its Production Report for the
fourth quarter ended 31 December 2009.
Group production volumes overall for the quarter ended 31 December 2009
further improved on the levels of Q3 2009, in line with our expectations stated
in the November 2009 Interim Management Statement. Volumes in the Ferroalloys
and Iron Ore Divisions in Kazakhstan recovered to approximately their full
available capacity. In the Alumina and Aluminium Division there was an
improvement in aluminium volumes as Phase 2 production was partially initiated.
Ore grades remained broadly consistent for all products. In the Energy Division,
also impacted by adverse winter weather, electricity generation increased and
coal production rose significantly. Logistics volumes also increased for both
internal and third-party business. Production included the first-time contribution
of the Other Non-ferrous Division, formerly Central African Mining & Exploration
Company PLC ('CAMEC').
- Ferroalloys Division (including Serov and Tuoli). Volumes for all products very
significantly increased versus Q4 2008, with the exception of saleable ferro-
manganese concentrate and medium-carbon ferrochrome:
- 39.8% increase for saleable chrome ore;
- 47.9% increase for saleable manganese concentrate; and;
- 54.5% increase for total ferroalloys, with growth of 70.7% for high-carbon.
Ferrochrome and 84.6% for silicomanganese. Ferrochrome production increased
56.7% compared to Q4 2008 and 5.7% from Q3 2009. Serov contributed saleable
chrome ore production of 29 kt and total ferroalloys of 58 kt, with eleven (of
seventeen) furnaces in operation at the end of December. Tuoli's output was 17
kt in Q4 2009, with three (of four) furnaces in operation at the end of December.
- Iron Ore Division. Production volumes rose very strongly compared to Q4
2008, reflecting the recovery in market activity:
- 74.1% increase for iron ore extraction;
- 79.3% increase for primary concentrate; and
- 79.5% increase for saleable ore.
In Q4 2009, compared to Q4 2008, there was an increased proportion of pellet in
the saleable mix. Pellet production doubled from Q4 2008, whilst saleable
concentrate production rose 57.5%. Against Q3 2009, pellet production increased
23.4% whilst saleable concentrate production decreased 24.1% as production
was switched in response to improved demand for higher margin pellet.
- Alumina and Aluminium Division. Bauxite extraction volumes were broadly
stable whilst alumina production increased 2.0% compared to Q4 2008. The
Division produced 36 kt of aluminium, with half of the Phase 2 pots of the
smelter being charged with alumina and put into operation in December.
- Energy Division. Coal extraction increased 11.0% compared to Q4 2008, in
response to a recovery in demand. Electricity generation increased 23.9%
compared to Q4 2008, due to increased demand and reinstated capacity.
Internal sales rose 59.3% against Q4 2008. Q4 2009 included the impact of
adverse winter weather.
- Logistics Division. The tonnage of goods transported by railway increased
28.2% versus Q4 2008, as a result of improved activity in the principal
operating Divisions.
- Other Non-ferrous Division. The first-time contribution of the new Division,
formerly CAMEC, amounted to 2,771 tonnes of copper cathode and 1,297
tonnes of cobalt concentrate in the two months to end December 2009.
Felix Vulis, Chief Executive Officer, said, "As expected, the Ferroalloys and Iron
Ore Divisions in Kazakhstan recovered to operate at effectively their full
available capacity in Q4 2009, reflecting improved market conditions. The strength
of the Alumina and Aluminium Division was sustained and Phase 2 of the aluminium
smelter was partially initiated. The Energy Division performed strongly. In
addition, we included the first-time production of copper and cobalt in the new
Other Nonferrous Division. The strength of its businesses and their low cost
advantage allowed the Group to achieve a strong recovery from the downturn at
the end of 2008. Going forward, we remain focused on managing production
levels in response to market demand.".
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: Communications
Hugh Morrison +44 (0) 20 7153 1534
Edward Orlebar +44 (0) 20 7153 1523
Elly Williamson +44 (0) 20 7153 1539
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the press release, including 2008 quarter four production report is published on
KASE website at:
-
http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_reliz_030210_rus.pdf -
in Russian;
-
http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_reliz_030210_eng.pdf -
in English.
[2010-02-08]