According to UK Takeover Panel Eurasian Natural Resources Corp, the Kazakh ferrochrome producer must make a firm intention to bid for copper mining company Kazakhmys plc or walk away by May 16th 2008. The panel reached its decision after talking to the companies` advisers.

London based Kazakhmys, which approached the panel asking for a ruling said in a separate statement said that it welcomes the decision.

ENRC said on March 12th 2008 that it may bid for Kazakhstan’s largest copper producer. A takeover would expand Astana based ENRC’s production portfolio, which includes ferrochrome, aluminum and iron ore, and create a company with annual sales of more than USD 4 billion.