ENRC has already predicted a successful 2008 financial year.

Eurasion Natural Resources Corporation Plc (ENRC) has reported strong half-year financial results, with revenues up 86% to US$3.4 billion (around £1.8bn) and pre-tax profit up almost 250% at $2.4bn – and it predicts an even better second half of 2008.

Based in Kazakhstan, ENRC is a leading global natural resources company and the largest producer of ferrochrome – used in the production of stainless steel – in the world. The company employs 64,000 people worldwide and has an annual revenue of $4.1bn – accounting for around 4% of Kazakhstan’s entire GDP.

It has recently completed several acquisitions and deals, in particular winning the tender for the ‘China Gateway Project’, which includes the building and operating of 300km of railway into China from Kazakhstan.

Dr Johannes Sittard, ENRC’s CEO, commented on the results, which he claimed were successful despite the macroeconomic uncertainties: “The Group’s record results are a testament to the strength and breadth of our businesses, our high quality assets, diversified revenue base and fully integrated energy and logistics capabilities. Whilst benefiting from strong commodity prices, we managed to contain costs across our operations.”

The company also attributed its monetary success to the strong growth of its key markets, China and Russia, and its acquisition of Serov, a ferrochrome producer in eastern Russia, for $210m in April.

Steady volume growth within the company’s ferrochrome, iron ore, alumina and aluminium divisions, coupled with significant price increases, further cement ENRC’s forecast of an overall successful 2008.