/KASE, September 27, 10/ - EURASIAN NATURAL RESOURCES CORPORATION PLC (London), shares of which are listed in Kazakhstan stock Exchange (KASE), provided to KASE the following press release of September 21, 2010:

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London - Eurasian Natural Resources Corporation PLC ('ENRC', or together with its subsidiaries, the 'Group') today announces that it has completed the purchase of the outstanding 50% of the common shares of Bahia Minerals BV ('BMBV') (commonly referred to as the 'BML Project') from Ardila Investments NV ('Ardila'), a subsidiary of Zamin BM NV ('Zamin'), being the shares of BMBV which ENRC does not already own (the 'Acquisition'). BMBV is the sole shareholder of two Brazilian companies: Bahia Mineracao Limitada ('BML') and Eire Mineracao Limitada ('EML'). BML and EML are the only assets within BMBV, in the Caetite region in the State of Bahia in Brazil.

The 50% interest in BMBV is being acquired for a net cash consideration of US$670 million, after assuming net debt of approximately US$65 million. Payment of US$167.5 million (the 'Initial Consideration') was made at completion, from existing cash resources. The remaining US$502.5 million (the Deferred Consideration') will be payable in two instalments, of US$167.5 million and US$335 million respectively. This is subject to the satisfaction of certain conditions (the 'Conditions'). Following the completion of the Acquisition the Group owns 100% of BMBV.

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The press release full version is available on KASE website at see more

[2010-09-27]