Eurasian Natural Resources Corporation PLC announces its November 2011 interim management statement and its production report for the third quarter ended September 30th 2011.

Highlights for the nine months ended September 30th 2011:

Production maintained at effective full available capacity across all of our principal commodities. Increases in copper and cobalt production of 40% and 27% respectively

Revenue increased significantly driven by higher prices for our main commodities and increased sales volumes. Overall financial performance partially offset by expected cost inflation

Financial position remained strong: gross available funds of USD 1.2 billion; total debt of USD 1.5 billion

Organic growth program continues on track

Recent developments and outlook for the full year 2011:

Production expected to remain at or close to effective full available capacity for the full year 2011

Revenue growth to continue in Q4 2011, with annualized unit cost of sales growth in our products expected at approximately 20%, as previously guided

An unsecured term loan facility of USD 1.0 billion has been signed by the Group in September 2011 for general corporate purposes

Planned capital expenditure for the year expected to be approximately USD 2.0 billion

Significant progress in the African development program has reinforced the Group's confident view on the future of our business in the region

Mr Felix J Vulis CEO of ENRC said that "Our performance in the first three quarters of the year has been strong, with production continuing at full capacity and higher revenues driven by the positive pricing environment. Whilst we are focused on managing near term market volatility and controlling costs to maintain our advantageous low cost position, our priority is the execution of our extensive growth program, both in Kazakhstan and internationally. The Group is well positioned for expansion and we remain confident in the positive outlook for the full year."