Dig into the miners to take gains from growth June 5, 2012 A BIG problem when it comes to day trading most retail equities is that sifting through balance sheets, analysing company performance and then taking a position based on your analysis isn’t the easiest thing in the world. But when trading mining equities, you often have the advantage of trading the macroeconomic news affecting the stock, [...]
ENRC to buy miner from its founders October 11, 2011 EURASIAN Natural Resources Corporation plans to buy the 75 per cent stake it doesn’t already own in the thermal coal producer Shubarkol from ENRC’s founding shareholders for $600m (£384m). The news comes less than two weeks after ENRC completed its three month corporate governance review of the board’s directors and management following calls from investors [...]
ENRC to buy miner from its founders October 11, 2011 EURASIAN Natural Resources Corporation plans to buy the 75 per cent stake it doesn’t already own in the thermal coal producer Shubarkol from ENRC’s founding shareholders for $600m (£384m). The news comes less than two weeks after ENRC completed its three month corporate governance review of the board’s directors and management following calls from investors [...]
ENRC shares lead FTSE on Glencore talk June 13, 2011 SHARES in Eurasian Natural Resources Corporation (ENRC) jumped 4.65 per cent yesterday following rumours that Glencore is planning a £12bn takeover bid. The Kazakh miner was the biggest riser in the FTSE 100 after reports that Glencore held talks in recent weeks with ENRC’s three billionaire shareholders Alexander Mashkevitch, Patokh Chodiev, and Alijan Ibragimov, who [...]
Former GSK chairman criticised April 5, 2011 The former chairman of pharmaceutical giant GlaxoSmithKline, Sir Richard Sykes, has been heavily criticised for his role in a controversial mining deal in the Democratic Republic of Congo. The chairman of the parliamentary group on the great lakes region of Africa, Eric Joyce, said Sir Richard had done his reputation “immeasurable harm” in overseeing Eurasian [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2011 FINANCIAL TIMES THIRD INDEPENDENT DIRECTOR TO QUIT ENRC BOARD A third independent director is set to leave the board of FTSE 100 miner Eurasian Natural Resources Corporation, thrusting the London-listed Kazakh company further into turmoil. Two prominent City figures, Sir Richard Sykes and Ken Olisa, were ousted from ENRC on Wednesday. Now, according to two [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 9, 2011 FINANCIAL TIMES THIRD INDEPENDENT DIRECTOR TO QUIT ENRC BOARD A third independent director is set to leave the board of FTSE 100 miner Eurasian Natural Resources Corporation, thrusting the London-listed Kazakh company further into turmoil. Two prominent City figures, Sir Richard Sykes and Ken Olisa, were ousted from ENRC on Wednesday. Now, according to two [...]
Kazak miner plots to oust chairman October 2, 2011 HEADHUNTERS have been called in to find a new chairman for the Eurasian Natural Resources Company (ENRC), despite confirming the incumbent Johannes Sittard in the role in its corporate governance review last Wednesday. The FTSE 100 Kazakstan mining company last week said it was “fully supportive” of the board-level reshuffle that kept Sittard at the [...]
Kazakhmys boosts profit March 29, 2011 Kazakhmys, the world’s 10th largest copper miner, said yesterday its full-year profit jumped 74 per cent thanks to higher metal prices. Earnings before interest, tax, depreciation and amortisation, excluding special items, rose to $2.84bn (£1.8bn). The figure included a $903m contribution from its 26 per cent stake in Eurasian Natural Resources Corporation (ENRC). Earlier this [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 12, 2011 FINANCIAL TIMES LLOYDS’ BISCHOFF COUNTERS CALLS FOR CHANGE The chairman of Lloyds Banking Group has countered suggestions from some investors that he should step down ahead of the bank’s reprivatisation. “In one or two years I suspect I’ll still be here,” Sir Win Bischoff told the Financial Times. The government is expected to begin selling [...]