Inguletsky GOK To Participate In CIS Asset Consolidation

Inguletsky GOK received a proposal from Russian businessman Alisher Usmanov to consolidate the CIS? iron ore mining and iron ore enrichment assets into a single entity, the Eurasian Mining Company. However, IGOK said it will not conclude a deal with Usmanov without the approval of President Yushchenko, due to strategic importance of the IGOK for Ukraine. Concorde Capital: Fears over re-privatization are the main reason Ukrainian companies have not been included in plans to create the Eurasian Mining Company. Negotiations with the Ukrainian authorities will be the key in this project. Watch.