Eurasian National Resources Corporation

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Eurasian National Resources Corporation
Type	Private Ownership
Founded	2006 (previously split entities)
Headquarters	London, Zürich & Astana
Key people	Johannes Sittard
Industry	Mining & Metals
Products	Ferro Alloys and related materials
Revenue	Unknown
Website	http://www.enrc.com

Eurasian National Resources Corporation (ENRC Group) is one of the world's largest private mining groups. ENRC, through other subsidiaries, owns large-scale Kazakh ferro-alloys producer Kazchrome, which produces ferrochrome ^[1]. It's main assets are located in Kazakhstan and are predominantly focused on the production of Ferro Alloys. The majority of the groups other assets are located in this region and support it's Ferro Chrome production. Ferrochrome is one of the input materials for stainless steel.

ENRC is reportedly owned by Patokh Chodiev, Alexander Mashkevich and Alijan Ibragimov. ^[2] Dr. Johannes Sittard is the current CEO and is guiding the company’s biggest project to date — construction of an $800m aluminium smelter in Kazakhstan. The group has offices in London, Zürich, Russia, China and Kazakhstan.

During 2006, Vladimir Kim, chairman of Kazakhmys, bought a 25% stake for $450m. Further to this, it has been report within the UK financial press that the group may look to list on capital markets during 2007. Reports claim that investment banks have told ENRC that as a privately owned company it is worth between $1.5 billion and $2 billion. If listed on the Kazakh exchange it would be worth up to double this amount, but if floated in London it would be worth at least $5 billion. Some believe that, if its ownership structure were clarified, its value could reach even double this. ^[3]