Kazakhmys awaits review at ENRC
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Friday 26 August 2011
Kazakhmys expressed concern about the corporate-governance issues at its fellow Central Asian miner ENRC yesterday as it posted higher earnings for the half year to June.
The group, which owns 26 per cent of its FTSE 100-listed compatriot, said underlying earnings had climbed to $1.6bn (£1bn) from $1.34bn last year.
Against the backdrop of ENRC's corporate-governance review, Kazakhmys chief executive, Oleg Novachuk, said: "Of course we are concerned about the problems of corporate governance in ENRC. We should wait until the corporate-governance review comes out and then we will see what we can do."
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