Under pressure FTSE 100 mining company, Eurasian Natural Resources (ENRC) says it has not made any decision on a possible spin off of its operations outside Kazakhstan.
There were press reports over the weekend of ENRC demerging its interests in the Democratic Republic of Congo, in addition to its coal mines in Mozambique and iron ore operations in Brazil.
Only 5,000 of the company's 70,000 workers are employed outside Kazakhstan, and selling its international assets could be the start of repairing ENRC's battered image.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
In the last 12 months the stock has dropped 41% following the purchase of a copper mine in Democratic Republic of Congo that the government there had forcibly seized from another firm, First Quantum.
Cashing in on another firm's misery did not go down well in London, and led to a massive boardroom row, resulting in the the departures of respected city figures Sir Richard Sykes and Ken Olisa from the board.
The incident also prompted more general concern over the corporate governance of foreign-owned firms listed in London.
In response to the press speculation ENRC says it "is determined to deliver value to its shareholders and, as outlined in its preliminary results, the Group continues to review all methods to achieve this, including acquisitions, joint ventures and spin-offs."
The statement concludes by asserting: "At present no decision has been made and the company continues to evaluate various options".
Should your business invest in a VoIP phone service?
Here's what you need to know about VOIP (voice over IP) services before landlines go digital in 2025.
By David Prosser Published
M&S is back in fashion: but how long can this success last?
M&S has exceeded expectations in the past few years, but can it keep up the momentum?
By Rupert Hargreaves Published