as sehk 1029 industry mining founded 4 june 2010 headquarters hong kong area served people s republic of china key people executive chairman jay hambro products iron ore ilmenite services engineering services revenue usd 160 854 000 2013 net income usd 41 613 000 2013 number of employees 2 492 as at 31 december 2013 parent petropavlovsk plc subsidiaries aricom limited website official website irc limited irc ; simplified chinese ; traditional chinese sehk 1029 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 . 1 contents 1 background 2 operations 3 projects 4 board of directors 5 references 6 external links background edit the company was incorporated on 4 june 2010 in hong kong as thor limited as an indirect wholly owned subsidiary of petropavlovsk plc lse pog . in a corporate restructuring the company acquired aricom limited previously a london listed iron ore mining company with operations in russia from petropavlovsk plc. the company then changed its name to irc limited on 13 august 2010 and adopts its current title irc limited since 13 september 2010 . 2 irc becomes listed on the main board of the hong kong stock exchange on 21 october 2010 . 3 on 17 january 2013 irc entered into a conditional subscription agreement with each of general nice development limited and minmetals cheerglory limited for an investment by the latter in new shares of irc up to approximately hk 1 845 000 000 equivalent to approximately us 238 000 000 in aggregate . irc expects the subscription to be completed by the end of 2014 . as is 31 december 2013 petropavlovsk plc continues to be the largest shareholder of irc holding nearly 50 % shares of irc . general nice development limited another substantial shareholder of irc holds over 20 % shares . operations edit the group s production and development sites are located in russia s amur region and eao near the chinese border . 4 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 . 5 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 . 6 projects edit kuranakh amur 5 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 k & s is a magnetite project that is currently in the development stage . the k & s mine is located in the jewish autonomous region eao of the russian far east . it is currently in the development stage . at the end of june 2014 the project was estimated to be 78 % complete and commissioning targeted december 2014 . 7 in an interview with bloomberg on 1 august 2014 the executive chairman of irc jay hambro called the k & s project a game changer for irc . 8 garinskoye amur 5 garinskoye is a magnetite project that is at an advanced stage of exploration . board of directors edit jay hambro chairman yury makarov executive director and ceo raymond woo executive director cfo and company secretary simon murray cbe non executive director cai sui xin non executive director liu qingchun non executive director jonathan eric martin smith independent non executive director daniel rochfort bradshaw independent non executive director li chuangfei independent non executive director senator dr pavel maslovskiy emeritus director 9 references edit irc offering prospectus 30 september 2010 . p. 1 . irc offering prospectus 30 september 2010 . p. 89 . http www.hkex.com.hk eng invest company profile page e.asp widcoid 1029 & widcoabbname & month & langcode e crust julie update 2 petropavlovsk plans iron ore unit hk ipo for october reuters 11 september 2010 . a b c irc global offering prospectus 30 september 2010 pp. 1 3 j nsson anette irc to relaunch ipo this week after cutting the size financeasia.com 11 october 2010 . irc 2014 interim report 21 august 2014 p. 7 http www.businessweek.com videos 2014 08 20 k and s project a game changer for irc hambro irc 2013 annual report 9 april 2014 p. 10 11 external links edit irc limited website petropavlovsk plc website retrieved from https en.wikipedia.org w index.php title irc limited & oldid 682568606 categories mining companies of russiamining companies of chinairon ore mining companiescompanies listed on the hong kong stock exchangemetal companies of chinaconglomerate companies of chinamultinational companies headquartered in hong kongheilongjiangrussian far eastconglomerate companies of hong konghidden categories articles containing simplified chinese language 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