Alferon Management

Alferon Management Limited of London is a management company for International Mineral Resources (IMR) in Kazakhstan. IMR is a part of the Eurasian National Resources Corporation, one of the world’s largest private mining and metals group owned by three Kazakh businessmen Alexander Mashkevich, Patokh Chodiev (or Shodiev) and Alijan Ibragimov (or Alidzhon Ibragimov). [ [http://www.google.com/search?q=cache:J465-yyfoggJ:www.euinkosovo.org/monitoring/2005/11072005.doc+alferon+management+AND+Mashkevich&hl=en&gl=us&ct=clnk&cd=2] ] Alferon Management Limited of London is a mining acquisition company that has acquired many miningoperations in different countries such as Zambia, the Democratic Republic of Congo, Indonesia, Russia, in Kosovo, and other countries that lack corporate governance.

Mashkevich, Chodiev and Ibragimov, better known at the Trio, are the owners of Eurasian Natural Resources, International Mineral Resources and Alferon Management. The Trio hired well known metallurgic expert, Dr. Johannes Sittard to head Alferon Management, International Mineral Resources, Eurasian Natural Resources Corporation (known as Eurasian Group), Arduina Holdings and preside over J&W Investments, a Swiss mining company owned by Alferon. Before joining Alferon, Sittard was world steel magnate Lakshmi Mittal’s right hand man. [ [http://www.forbes.com/billionaires/global/2006/0327/034.html Emerging market gold] , accessed on May 31, 2006]

After working for Mittal for several years, Sittard confessed that Mittal had paid the Trio US $100 million in order to facilitate business in Kazakhstan. [ [http://news.bbc.co.uk/2/hi/business/2146757.stm The steel maharajah] , accessed on May 31, 2006]

After much controversy, Alferon Management recently acquired Ferronickeli Complex, LLC, a nickel plant based in Kosovo. [ [http://www.eciks.org/english/lajme.php?action=total_news&main_id=383 Kosovo: Sale and Handover of Ferronikeli Completed] , accessed on May 31, 2006] The controversy behind the acquisition stemmed from Alferon receiving the approval on the acquisition from the Kosovo Trust Agency (KTA) despite the fact that they were one the highest bidder; US- Albanian company, Adi Nickel was the highest bidder offering 49.5 million Euros. [ [http://siteresources.worldbank.org/INTKOSOVO/Country%20Home/20524244/Kosovo%20Economic%20Briefing%2031May05.pdf Kosovo monthly economic briefing] , accessed on May 31, 2006] Ferki Karaxha, the head of Ferronikeli trade union, also stated that since Adi-Nickel won the first tender, it was no fair to declare IMR a provisional winner.

IMR is a Zurich-based holding subsidiary of Eurasia, and Alferon is the management company responsible for running IMR. The sale agreement also includes an investment commitment from IMR-Alferon of €20 million, plus a guarantee to employ at least 1,000 people at Ferronikeli.

The chairman of the KTA, Joachim Ruecker, said the sale sent “a very strong signal to international investors”. Mr Ruecker added: “Kosovo is a stable and mature society, which welcomes international investment.” [ [http://72.14.207.104/search?q=cache:MnMvgE0UB3wJ:www.euinkosovo.org/monitoring/2005/12102005.doc+Adi+Nickel+AND+Koha+Ditore&hl=en&gl=us&ct=clnk&cd=2] ]

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