IRC Limited
Encyclopedia
IRC Limited is a Hong Kong
-based business that is focused on exploring for, developing, and operating industrial commodity projects, particularly in the mining
sector. Its operations are centred in the Far East of Russia and in China
's Heilongjiang Province.
-listed Petropavlovsk plc (LSE: POG). The Group was spun-off in an initial public offering on the Hong Kong Stock Exchange
in October 2010.
’s Amur
Region and EAO, near the Chinese border.
The Group’s strategy is to leverage the close proximity of its operations to North East China and the presence of existing rail infrastructure, to provide a low cost solution to the region’s demand for quality iron ore. “It also has a highly regarded and experienced international management team and its UK parent company has been delivering sizeable returns to investors ever since it became a listed company.”
)
The Kuranakh mine was developed from a greenfield site and now produces titanomagnetite and ilmenite
concentrate. The processing plant at Kuranakh was commissioned in May 2010 and commenced production in 2010.
Kimkan & Sutara (“K&S”) (EAO)
K&S is a magnetite
project that is currently in the development stage. Mining is scheduled to commence in early 2012, with production of concentrate planned for 2013.
Garinskoye (Amur
)
Garinskoye is a magnetite
project that is at an advanced stage of exploration. Mining is expected commence in 2014, and production of pre-concentrate targeted to begin 2015.
Hong Kong
Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...
-based business that is focused on exploring for, developing, and operating industrial commodity projects, particularly in the mining
Mining
Mining is the extraction of valuable minerals or other geological materials from the earth, from an ore body, vein or seam. The term also includes the removal of soil. Materials recovered by mining include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale, rock...
sector. Its operations are centred in the Far East of Russia and in China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
's Heilongjiang Province.
History
IRC was previously a wholly owned subsidiary of LondonLondon
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
-listed Petropavlovsk plc (LSE: POG). The Group was spun-off in an initial public offering on the Hong Kong Stock Exchange
Hong Kong Stock Exchange
The Hong Kong Stock Exchange is a stock exchange located in Hong Kong. It is Asia's third largest stock exchange in terms of market capitalization behind the Tokyo Stock Exchange and the Shanghai Stock Exchange and fifth largest in the world...
in October 2010.
Operations
The Group’s production and development sites are located in RussiaRussia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
’s Amur
Amur
The Amur or Heilong Jiang is the world's tenth longest river, forming the border between the Russian Far East and Northeastern China .-Course:...
Region and EAO, near the Chinese border.
The Group’s strategy is to leverage the close proximity of its operations to North East China and the presence of existing rail infrastructure, to provide a low cost solution to the region’s demand for quality iron ore. “It also has a highly regarded and experienced international management team and its UK parent company has been delivering sizeable returns to investors ever since it became a listed company.”
Locations
Kuranakh (AmurAmur
The Amur or Heilong Jiang is the world's tenth longest river, forming the border between the Russian Far East and Northeastern China .-Course:...
)
The Kuranakh mine was developed from a greenfield site and now produces titanomagnetite and ilmenite
Ilmenite
Ilmenite is a weakly magnetic titanium-iron oxide mineral which is iron-black or steel-gray. It is a crystalline iron titanium oxide . It crystallizes in the trigonal system, and it has the same crystal structure as corundum and hematite....
concentrate. The processing plant at Kuranakh was commissioned in May 2010 and commenced production in 2010.
Kimkan & Sutara (“K&S”) (EAO)
K&S is a magnetite
Magnetite
Magnetite is a ferrimagnetic mineral with chemical formula Fe3O4, one of several iron oxides and a member of the spinel group. The chemical IUPAC name is iron oxide and the common chemical name is ferrous-ferric oxide. The formula for magnetite may also be written as FeO·Fe2O3, which is one part...
project that is currently in the development stage. Mining is scheduled to commence in early 2012, with production of concentrate planned for 2013.
Garinskoye (Amur
Amur
The Amur or Heilong Jiang is the world's tenth longest river, forming the border between the Russian Far East and Northeastern China .-Course:...
)
Garinskoye is a magnetite
Magnetite
Magnetite is a ferrimagnetic mineral with chemical formula Fe3O4, one of several iron oxides and a member of the spinel group. The chemical IUPAC name is iron oxide and the common chemical name is ferrous-ferric oxide. The formula for magnetite may also be written as FeO·Fe2O3, which is one part...
project that is at an advanced stage of exploration. Mining is expected commence in 2014, and production of pre-concentrate targeted to begin 2015.
Board of Directors
- Jay HambroJay HambroJay Hambro is a businessman known for being the Chairman of IRC Limited. He was previously chief executive officer of Aricom between 2006 and 2009 and subsequently Chief Investment Officer of Petropavlovsk PLC - the FTSE listed gold and iron ore miner...
, Chairman - Yury Makarov, CEO,
- Raymond Woo, CFO
- Jonathan Martin Smith, Independent Non-Executive Director
- Daniel Bradshaw, Independent Non-Executive Director
- CF Li, Independent Non-Executive Director
- Dr Pavel Maslovskiy, Non-Executive Director
- Simon MurraySimon MurraySimon Murray CBE is a British businessman, adventurer, author, and former French Foreign Legionnaire. He was the oldest man to reach the South Pole unsupported, at the age of 63.- Early life :...
, CBE, Non-Executive Director