Aricom

Aricom PLC was an iron ore mining company focused on deposits in Russia’s Far East. The business emerged in 2003 as a spin-out from Peter Hambro Mining, a mining group that later became known as Petropavlovsk PLC. At formation, Aricom acquired a 74% interest in Olekminsky Rudnik, the company holding the mining licence for the Kuranakh deposit. Its principal activities were therefore tied to the development and operation of iron ore resources rather than to a consumer-facing product brand. Aricom was initially admitted to the Alternative Investment Market in London. As the company developed its project portfolio and corporate profile, it secured a listing on the London Stock Exchange’s main market in 2007 and subsequently became a constituent of the FTSE 250 Index. Its assets were located in the Amur Region and the Jewish Autonomous Region of eastern Russia. These areas were strategically significant for the company because the projects were situated near the Trans-Siberian Railway and the Baikal–Amur Mainline, providing access to established rail infrastructure for the movement of bulk mineral products. The company’s mining model centered on open-pit extraction. This involves removing overburden and excavating ore from large surface pits. In the operations associated with Aricom, drilling and blasting were used to break the ore, after which the material was transported from the pits by mining trucks. The company’s resource base and development plans were connected with iron ore production and related processing opportunities in the Russian Far East. Aricom ceased to exist as an independent listed company after it was acquired by its sister company, Peter Hambro Mining, in April 2009. The transaction took place alongside Peter Hambro Mining’s move from the Alternative Investment Market to the London Stock Exchange’s main market. Following the acquisition, Peter Hambro Mining took Aricom’s place in the FTSE 250 Index. The consolidation placed Aricom’s projects within the wider Peter Hambro group rather than continuing them under a separate Aricom corporate identity. In October 2010, the assets previously held by Aricom were placed into IRC Ltd, which was listed on the Hong Kong Stock Exchange. Petropavlovsk PLC retained a majority shareholding in IRC. Accordingly, Aricom is best understood as a former mining company and corporate vehicle whose Russian iron ore assets continued under successor ownership and a different listed structure. The historical Aricom name is associated primarily with iron ore development in eastern Russia, London capital-market activity, and the later reorganization of its assets within the Petropavlovsk and IRC structure.

Aricom PLC was created in 2003 as a spin-out from Peter Hambro Mining. Its initial corporate structure included the acquisition of a 74% stake in Olekminsky Rudnik, a business holding the licence to develop the Kuranakh iron ore deposit. This transaction gave Aricom a defined resource base in eastern Russia and established the company as a vehicle focused on iron ore exploration, mine development, and production. The company first traded on London’s Alternative Investment Market. As its business and capital-market profile expanded, Aricom obtained admission to the main market of the London Stock Exchange in 2007. It later became a constituent of the FTSE 250 Index, reflecting its position as a sizeable listed company within the London market at that time. Aricom’s operations were located in Russia’s Amur Region and Jewish Autonomous Region. The projects benefited from proximity to the Trans-Siberian Railway and the Baikal–Amur Mainline, two major rail corridors relevant to the transportation of bulk commodities from the Russian Far East. The company’s mining activities used open-pit methods. Ore was broken through drilling and blasting, then removed from the pits using mining trucks. In April 2009, Peter Hambro Mining completed the full acquisition of Aricom. The transaction consolidated the two related businesses and ended Aricom’s independent corporate and stock-market identity. The acquisition coincided with Peter Hambro Mining’s transition from AIM to the London Stock Exchange main market; Peter Hambro Mining subsequently took Aricom’s place in the FTSE 250 Index. Peter Hambro Mining later became known as Petropavlovsk PLC. The assets associated with Aricom were subsequently reorganized. In October 2010, they were included in IRC Ltd, which was listed on the Hong Kong Stock Exchange. Petropavlovsk retained a majority shareholding in IRC. This structure allowed the former Aricom projects to continue within a successor company while the Aricom corporate brand itself became defunct. The company’s historical importance therefore lies in its role as a London-listed developer of Russian Far Eastern iron ore assets and in the sequence of spin-out, public listing, consolidation, and later asset re-listing.

1. 2010Former assets listed through IRC Ltd

   The former Aricom assets were placed into IRC Ltd, which listed on the Hong Kong Stock Exchange with Petropavlovsk retaining majority ownership.

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2. 2009Acquisition by Peter Hambro Mining

   Peter Hambro Mining fully acquired Aricom, ending its independent listed-company status.

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3. 2007Main-market London listing

   Aricom moved from the Alternative Investment Market to the main market of the London Stock Exchange.

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4. 2003Aricom is established

   Aricom was formed as a spin-out from Peter Hambro Mining and acquired a 74% stake in Olekminsky Rudnik, which held the Kuranakh mining licence.

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A Russia-focused iron ore mining company and London-listed natural-resources vehicle centered on open-pit deposits in the Russian Far East.

• Kuranakh iron ore depositIron ore mining asset2003

  Kuranakh was the principal mining deposit associated with Aricom’s formation. Aricom obtained exposure to the deposit through its 74% stake in Olekminsky Rudnik, the company holding the relevant mining licence. The asset formed part of Aricom’s Russian Far Eastern iron ore portfolio and was subsequently transferred into successor ownership structures.

• Open-pit iron ore operationsMining operations

  Aricom’s mining activities were based on open-pit extraction in Russia’s Amur Region and Jewish Autonomous Region. The operating method involved drilling ore, using blasting to break the rock, and transporting the resulting material from the pits with ore trucks. These operations were linked to rail infrastructure serving the Russian Far East.

• 2010Reorganization of former Aricom assets into IRC LtdM&A

  Following the acquisition, the former Aricom assets were reorganized within a new listed structure.

  What changed. The assets were listed through IRC Ltd on the Hong Kong Stock Exchange in October 2010.

  Aftermath. Petropavlovsk retained a majority shareholding in IRC Ltd, preserving group control over the former Aricom portfolio.

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• 2009Full acquisition by Peter Hambro MiningM&A

  Aricom and Peter Hambro Mining were related companies, and the group pursued a consolidation of its listed mining assets.

  What changed. Peter Hambro Mining acquired all of Aricom in April 2009.

  Aftermath. Aricom ceased to operate as an independent listed company, while Peter Hambro Mining took its place in the FTSE 250 Index during the group’s move to the London Stock Exchange main market.

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• 2003Spin out and acquisition of the Kuranakh interestStrategy

  Peter Hambro Mining separated the Aricom business as a dedicated iron ore company focused on Russian assets.

  What changed. Aricom was established and acquired a 74% interest in Olekminsky Rudnik, holder of the Kuranakh mining licence.

  Aftermath. The transaction gave Aricom its initial operating and development platform in eastern Russia.

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• 2010Former Aricom assets enter the IRC Ltd structure

  Assets previously held by Aricom were listed through IRC Ltd on the Hong Kong Stock Exchange, with Petropavlovsk retaining majority ownership.

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• 2009Peter Hambro Mining acquires Aricom

  Aricom was fully acquired by its sister company, Peter Hambro Mining, ending its existence as an independent listed company.

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• 2007Aricom moves to the London Stock Exchange main market

  The company obtained a main-market listing on the London Stock Exchange after initially trading on the Alternative Investment Market.

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• 2003Aricom is formed through a spin-out from Peter Hambro Mining

  Aricom was established as a separate company and acquired a 74% interest in Olekminsky Rudnik, which held the licence for the Kuranakh iron ore deposit.

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1. Aricom