ENRC takes full control of Shubarkol

Diversified mining giant Eurasian Natural Resources Corp (ENRC) has completed the acquisition of thermal coal group Shubarkol Komir JSC, which is expected to enhance the company's position as a leading coal producer in Kazakhstan.

Diversified mining giant Eurasian Natural Resources Corp (ENRC) has completed the acquisition of thermal coal group Shubarkol Komir JSC, which is expected to enhance the company's position as a leading coal producer in Kazakhstan.

ENRC has today completed the open trade on the Kazakhstan Stock Exchange to acquire the outstanding 75% of common shares in Shubarkol for $600m, after having proposed the exercise of an option back in October 2011. When the group first proposed the acquisition, it said it would also take on $50m of assumed debt.

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