EURASIAN NATURAL RESOURCES CORPORATION PLC (ENRC, United Kingdom) announces Y2012 Q2 operating results
August 14. KASE
EURASIAN NATURAL RESOURCES CORPORATION PLC (London), whose common shares are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of August 1, 2012:
The information in this Production Report, unless stated otherwise, relates to the three months ended 30 June 2012, and is compared to the corresponding three month period of 2011.
Production levels in the Ferroalloys Division were slightly above the previous quarter yet operated slightly below their full available capacity. The Iron Ore Division operated at below full available capacity. This was due to a temporary decline in ore quality as well as repairs to our own railways, which resulted in lower volumes of ore available for processing. The Alumina and Aluminium Division operated at full available capacity for aluminium production and below full available capacity for alumina production due to processing problems at the refinery in Q1 2012. In the Other Non-ferrous Division, copper contained production showed strong growth against the corresponding period of 2011, while cobalt contained volumes decreased in the same period. The Energy Division operated at full available capacity for the quarter.
– Ferroalloys Division. Total saleable production of ferroalloy products was slightly above the previous quarter but decreased 1.3% versus Q2 2011, mainly due to a 3.6% decrease in high carbon ferrochrome production. Ferrosilicochrome and silicomanganese production increased by 26.7% and 4.4% respectively, while the production of medium- and low-carbon ferrochrome and saleable ferrosilicon remained stable.
– Iron Ore Division. Iron ore extraction and primary concentrate production decreased by 6.8% and 13.5%, respectively, against the comparable period. The total volume of saleable product decreased 12.3% against Q2 2011.
– Alumina and Aluminium Division. Bauxite extraction decreased 3.2% and alumina production decreased 8.1% against Q2 2011 as a consequence of processing problems at the alumina refinery in Q1 2012. Alumina production returned to full capacity in June. Aluminium production was in line with Q2 2011.
– Other Non-ferrous Division. Production of saleable copper in Q2 2012 was 8,505 t, a 15.5% increase versus Q2 2011. At 2,490 t, saleable cobalt production was 1.9% below Q2 2011.
– Energy Division. Coal extraction by EEC increased 0.7% compared to Q2 2011. Electricity generation increased 3.6% and sales to third-parties increased 35.9% compared with Q2 2011. Shubarkol volumes reported for the first time on a consolidated basis (since May 1, 2012): coal extraction volumes of 927 kt and special coke production of 34 kt.
– Logistics Division. The volume of goods transported by rail decreased by 10.0% compared to Q2 2011 due mainly to coal volumes to Russia being transported by customers using their own railcars. The proportion of volumes attributable to third parties decreased by 4.6 percentage points compared with Q2 2011.