ENRC: Kazakhstan, DRC, Mozambique
Eurasian Natural Resources Corporation (ENRC) is looking likely to de-list from the London Stock exchange. That’s a pity, since the company has a big interest in expanding operations in Africa and a listing in London of course adds to prestige for the companies and to confidence for investors.
In truth, ENRC has struggled with the added scrutiny attached to listing and while the company is a very effective and profitable miner it has suffered severe value penalties following a couple of contentious deals which, without listing, might not have been quite so deleterious.
A few families still have a large stake in the company, of course, and while that works for listed companies like Newscorp and Santander, it’s looking like it might work better for a de-listed ENRC.
The company, whose operations are mainly in Kazakhstan have plans for a large mining venture in the DRC and a railway in Mozambique. Whatever the ups and downs of London listing, and whatever the future holds for the ownership of ENRC, it’s certainly true that ENRC is a serious mining company and it’s to be hoped that its major African projects, as above and elsewhere, stay on track.
Also check out an earlier post in this site on ‘UK Listed Mining Companies’.