The Russian FAS has not granted the petition of the Chelyabinsk electro metallurgical plant to acquire the Serov ferroalloy plant. The negotiations on the sale had continued for about a year.
The press service of FAS Russia states of the refusal to grant CHEMK's petition to acquire the Serov ferroalloy plant, the enterprise of the Kazakh Eurasian Natural Resources Corporation (ENRC). CHEMK is part of Alexander Aristov and Yuri Antipov’s LLC "Ural-Siberian Metallurgical Company" of the Chelyabinsk entrepreneurs and occupies about 70% of the Russian market of ferroalloys. The share of the Serov plant accounts for about 20%.
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In Q2, the Eurasian Natural Resources Corporation, ENRC increased aluminum production by 1.6% to 63,000 tons. The company is one of the global leaders in production and exporting of ferroalloys, iron ore, alumina and aluminum. Within the period, it increased production of ferroalloys by 0.5% to 437,000 tons, ferrochrome by 4% to 342,000 tons, alumina by 8.5% to 408,000 tons, and iron ore by 9.9% to 10.874 million tons.
Glencore International Plc studies the purchase of the ferroalloys assets in Kazakhstan belonging to Mechel OJSC. Glencore is mainly interested in the Kazakh assets of Mechel. Mechel is trying to sell the assets for which ENRC also intends. Now the assets of Mechel in Kazakhstan are the Shevchenkovsky nickel deposit and the chromite ore deposit “Voskhod”. Mechel, the largest steelmaking coal producer in Russia, plans to sell the assets in Russia, Kazakhstan and the Eastern Europe. The company does it to reduce the $9.3 bln of the net debt after the price fall for raw materials. The purchase of Mechel’s assets will allow Glencore to expand the production of ferroalloys after the purchase of Vale SA last year. ENRC already produces ferroalloys in Kazakhstan.
The largest raw materials trader in the world Glencore International (Switzerland) is going to purchase 14.59% of Eurasian Natural Resources Corporation (ENRC,Kazakhstan) shares from one of the company’s founders Alexander Mashkevich, IzRus Israel portal reports with reference to a Kazakh official. Read more »