Kazakhmys shareholders support ENRC delisting plan Kazakhmys investors have voted to support measures that will see the copper miner separate from Eurasian Natural Resources Corp, another UK-listed mining group that has been under the spotlight because of an anti-fraud probe. ENRC's founders, along with the Kazakh government, which also holds a stake in the ferrochrome miner, want to take the group private after six years of being listed in London. The UK's Serious Fraud Office is looking into some of ENRC's business dealings. Investors in Kazakhmys, which holds 26 per cent of ENRC, voted on Friday to support the sale of the stake to the buyout consortium, clearing the way for ENRC to be taken private. Both mining groups have roots and extensive operations in Kazakhstan and several years ago were exploring ways to tie up and create a more diversified central Asian mining group. ENRC's founding oligarchs and the Kazakh government have offered to pay for the buyout with a mix of cash and Kazakhmys shares. The split from ENRC means Kazakhmys will receive about $880m in cash as well as $77m of its own shares, which will be cancelled. But it is also likely to mean a writedown for Kazakhmys of about $800m as the group reassesses the value it had assigned to its 26 per cent stake. Kazakhmys's board had supported the ENRC plan in spite of failing to achieve the price they wanted, believing there was a likelihood of further corporate governance concerns doing more damage to the value of its ENRC stake. Simon Heale, chairman of Kazakhmys, said this week the association with ENRC had "a lot of baggage attached." Shares in Kazakhmys fell 3.5p to 267.7p in morning trading. ENRC shares were flat at 222p.