IRC produces and develops industrial commodities.

Based in the Russian Far East, it benefits from low production costs and proximity to the Chinese border, China being the world’s largest consumer of IRC’s main product, iron ore. IRC was Petropavlovsk’s Non Precious Metals Division before it was listed on the Hong Kong Stock Exchange in late 2010 (stock code 1029).

Petropavlovsk is a shareholder (31.1%) of IRC Limited and is the guarantor of the US$340m project finance facility (US$234m principal outstanding, as at 31 December 2016)

Further information on IRC may be found at www.ircgroup.com.hk

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