Kazakhstan-based mining group Eurasian Natural Resources Corporation Plc. (ENRC) has announced that in 2012 it registered a net loss of $852 million compared to a net profit of $1.98 billion in the previous year, while its revenue amounted to $6.32 billion, down 18 percent compared to 2011, since prices materially declined as the year progressed, particularly for major commodities such as ferroalloys and iron ore.
Accordingly, in the given year, ENRC's ferroalloys division had revenues of $2.61 billion, down 15.1 percent year on year, which represented 41.2 percent of the group's consolidated revenue. Meanwhile, ENRC's iron ore division registered revenues of $1.83 billion, down 25.2 percent year on year, which represented 29 percent of consolidated revenue. For the given period, ENRC's capital expenditure was $2.54 billion, increasing by 32.2 percent compared to 2011.
In 2012, ENRC produced 1.52 million mt of ferroalloys, up 1.7 percent compared to the previous year. In the same period, the company's iron ore pellet output declined 6.6 percent year on year to 7.14 million mt.