Top ferrochrome producers ENRC received a $2 billion loan by Sberbank of Russia

 Sahit Muja: New York

 Sahit Muja: Top ferrochrome producers ENRC received a $2 billion loan by Sberbank of Russia

Eurasian Natural Resources Corporation announces the signing of a $2 billion loan provided by Sberbank of Russia, has a 5 year term with amortisation
commencing after 24 months.

The new funds will be used for general corporate purposes, including the financing of recent acquisitions and the Group’s extensive CAPEX programme.
Eurasian Natural Resources Corporation is one of the world’s largest ferrochrome producers, supplying the market with a range of high-grade chromium alloy.
Its primary product is high-carbon ferrochrome, with a chrome content of 68%.  Also produces rutile, zircon and ilmenite concentrates.

ENRC is a leading diversified natural resources group, performing integrated mining, processing,energy, logistics and marketing operations. The operations comprise: the mining and processing of
chrome, manganese and iron ore; the smelting of ferroalloys; the production of iron ore concentrate and pellet; the mining and processing of bauxite for the extraction of alumina and the production of
aluminium; the production of copper and cobalt; coal extraction and electricity generation; and the
transportation and sales of the Group's products.

Global ferrochrome production is falling  due to reduced operating capacity, higher energy costs and labor problems.

Ferrochrome producers worldwide settled benchmark price at USD 1.15 to USD 120 per pound.
Albanian Minerals and Bytyci SHPK, Tropoje, Albania expects that steel ingredient ferrochrome will test high prices in 2012 as production fails to keep pace with a jump in global demand for steel.
The current stockpiles of ferrochrome in China, Europe, U.S, Japan, and Russia are too low to fill the gap.

Demand for ferrochrome, which is used in stainless steel to prevent corrosion, is recovering after jump in demand for steel.
Albanian Minerals expects ferrochrome prices to trade higher in 2012 on upward demand from rising growth in stainless steel production.
Also restricted supply of electricity in South Africa and China has resulted in the postponement of a number of planned ferrochrome projects over the next five years.

Sahit Muja
President and CEO
Albanian Minerals
New York