/KASE, August 14, 12/ - EURASIAN NATURAL RESOURCES CORPORATION
PLC (London), whose common shares are officially listed at Kazakhstan Stock
Exchange (KASE), has provided KASE with the following press-release of July
31, 2012:
quote
Eurasian Natural Resources Corporation PLC ('ENRC' or, together with its
subsidiaries, the 'Group'), today announces that the Government of the
Democratic Republic of the Congo ('DRC') has decided to grant ENRC's
subsidiary Frontier Sprl ('Frontier') a new mining licence in respect of the
Frontier mine for US$101.5 million. The new Frontier licence, which will be
formally issued in the coming weeks, will provide feed for the Frontier processing
plant that was acquired as part of the settlement with First Quantum Minerals Ltd.
('FQM'), which completed in March 2012.
Frontier is located near the town of Sakania in the DRC, within 2 kilometres of
the Zambian border and approximately 70 kilometres from ENRC's Chambishi
smelter. In addition to the licence area previously held by FQM at Frontier, the
new licence will include adjacent areas, better conforming to the extent of the
ore body. As of 31 December 2009 FQM publicly disclosed a total resource of 264
million tonnes at a grade of 1.17% copper for the Frontier licence within the
boundaries defined at the time..
unquote
The full press-release is available on KASE website, at
http://www.kase.kz/files/emitters/GB_ENRC/gbenrc_reliz_310712.pdf
[2012-08-14]