OREANDA-NEWS. On May 12, 2008 EURASIAN NATURAL RESOURCES CORPORATION PLC, common shares of which are traded in the official list of Kazakhstan Stock Exchange (KASE) of category "A", provided KASE with the press release as follows, reported the press-centre of KASE:

Eurasian Natural Resources Corporation PLC (ENRC or collectively with its affiliates - the Group), a holding company of the leading diversified group in mining and enrichment of minerals with integrated mining, processing, energetic and transport enterprises, located in Kazakhstan, announced on acquisition from Mr. Ma Yunpu 50% of shares of Xinjiang Tuoli Taihang Ferro- Alloy Co. LTD, Chinese plant for Ferro-alloy production, for CNY101,250,000 (approximately USD14.5 m.) in cash.

Xinjiang Tuoli Taihang Ferro-Alloy Co. LTD is one of the largest Chinese Ferro-alloy plants annually producing 120,000 tons high-carbon ferrochrome. The plant is located in Tuoli region, Xinjiang province, approximately 300 km. away from the Chinese-Kazakhstan border. The plant exploits four 12,500 kVA furnaces. Currently ENRC supplies 70 % of the chrome ore processed by the plant.

This acquisition, the first in China, will strengthen ENRC positions on the ferroalloys market; with the company being top ferro chrome producer. In 2007 ENRC produced 1.1 m. tons of high carbon ferrochrome.

Commenting on the acquisition, Dr. Johannes Cittard, ENRC Head Executive Director, said: "We are indeed inspired by our first acquisition in China, the market, which we know and which, in our opinion, has many prospects".

Close of the deal depends on final approval of local authorities of Xinjiang province.