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irc ltd (1029) Details

IRC Limited, an investment holding company, engages in the development and production of industrial commodities products in the People’s Republic of China and internationally. The company operates through four segments: Mines in Production, Mines in Development, Engineering, and Other. The Mines in Production segment comprises iron ore projects in production phase, which include the Kuranakh project that produces titanomagnetite and ilmenite concentrate products located in the Evreyskaya Avtononnaya Oblast, Russia. The Mines in Development segment consists of iron ore projects in the exploration and development phase comprising the Kimkan and Sutara project, a magnetite project situated in the Jewish Autonomous region; Garinskoye project that focuses on iron ore deposits in the Amur region; Bolshoi Seym, an ilmenite and magneite project; a molybdenum exploration project; and the Kostenginskoye and Garinskoye Flanks project located in the Russian Far East region. The Engineering segment holds a 70.3% interest in Giproruda, a mining research and consultancy institute, which provides technical mining research and consultancy services. The Other segment has an interest in a joint venture agreement for the production of vanadium pentoxide and related products, as well as various other projects located in Heilongjiang, North-Eastern China. IRC Limited is also involved in the provision of general trading, financing, engineering, and procurement services; and development of titanium sponge. The company was founded in 2010 and is headquartered in Central, Hong Kong. IRC Limited is a subsidiary of Cayiron Limited.

1,535 Employees
Last Reported Date: 09/14/17
Founded in 2010

irc ltd (1029) Top Compensated Officers

CEO & Executive Director
Total Annual Compensation: $612.0K
CFO & Executive Director
Total Annual Compensation: $492.0K
Compensation as of Fiscal Year 2016.
irc ltd
IRC Limited Reports Production Results for the Month of January 2018

IRC Limited reported production results for the month of January 2018. The company announced that K&S has successfully produced more than 180,000 tonnes of iron ore concentrate in the month of January 2018, a monthly production record in the K&S' ramping up program.

IRC Limited Reports Production and Sales Results for the Fourth Quarter and Year Ended December 31, 2017

IRC Limited reported production and sales results for the fourth quarter and year ended December 31, 2017. During the fourth quarter, the total production and sales of iron ore concentrates amounted to 395,698 tons and 386,913 tons respectively. For the year, the total production and sales of iron ore concentrates amounted to 1,563,066 tons and 1,539,146 tons respectively.

IRC Limited Announces Management Changes

The Board of Directors of IRC Limited announced a number of changes to the Board of Directors. Mr. Jay Hambro has announced his intention to retire as the Chairman and a Non-Executive Director of the Company upon the appointment of a successor. Mr. Hambro relinquished his executive responsibilities in January 2016 upon his appointment as the Chief Investment Officer of GFG Alliance and the Chief Executive Officer of the Mining and Energy Division of GFG Alliance's member company SIMEC Group Limited. The Board announced that Mr. Daniel Bradshaw has been appointed as the Deputy Chairman of the Company and shall lead the process of recruiting a new Non-Executive Chairman. Mr. Daniel Bradshaw joined IRC in 2010 and has been the Senior Independent Non-Executive Director of IRC since its initial public offering in Hong Kong. The Board announced that Mr. Cai Sui Xin has resigned as a Non-Executive Director of the company with effect from 5 January 2018 to devote more time to his other professional commitments. The Board announced that, following Mr. Cai's retirement from the Board, Mr. Benjamin Ng, who previously served as an alternate to Mr. Cai, has been appointed as a Non- Executive Director and replaces Mr. Cai as the shareholder representative of General Nice Development Limited a substantial shareholder of the company. Mr. Ng Tze For is an Executive Director of Loudong General Nice Resources (China) Holdings Limited, which is a listed company on the main board of the Stock Exchange of Hong Kong Limited, since September 2008. The Board announced that with effect from 5 January 2018, Mr. Raymond Woo has been re- designated from a Non-Executive Director of the Company to an Independent Non-Executive Director of the Company (the "Re-designation") as recommended by the Nomination Committee of the Company and approved by the Board. Following the Re-designation, the Board comprises ten members with two Executive Directors, three Non-Executive Directors and five Independent Non-Executive Directors. Mr. Raymond Kar Tung Woo joined IRC in June 2010 as an Executive Director, Chief Financial Officer and Company Secretary of IRC. Since March 2015, Mr. Woo had been re-designated as a Non-Executive Director of IRC.


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