ENRC deal deadline extended

Long-suffering shareholders in scandal-ridden miner Eurasian Natural Resources Corporation have been given two final weeks to brave their failed investment.

After almost six turbulent years on the London Stock Exchange, the limestone-to-aluminium group is on the verge of being taken back private by its trio of founders and the Kazakhstan government in a $4.8 billion (£3 billion) bid.

However, they did not have enough acceptances by yesterday’s deadline and have secured a two-week extension. They are awaiting regulatory clearance, so have not yet written to Kazakhmys to formalise the purchase of its 26% stake in ENRC. Kazakhmys has agreed to the sale, which would confirm the takeover.