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Date: Friday 04 Jul 2008

LONDON (ShareCast) - The Kazakh phosphate miner Sunkar Resources started trading on AIM following a placing at 120p per share to raise a total of £33.6m before expenses.

“This IPO is an important milestone in the development of Sunkar and it is a clear indicator of investors' faith in the attractiveness of our asset base and Kazakhstan,” said chief executive Serikjan Utegen.

“We look forward to developing the mine during the course of the year and are determined to develop Sunkar into one of the region's leading phosphate production companies,” Utegen added.

Emerging Metals Limited, a mining company focused on minor metals and rare earth elements, also started trading on AIM this week.

The group said it will take advantage of an anticipated imbalance in the supply of, and demand for, Investment Minor Metals, which the directors believe will cause a rise in market prices for these metals.

“The market trend for Investment Minor Metals has been one of rising prices, driven by classic supply and demand economics,” said chief executive Mitch Alland.

“We believe that the minor metals market is only partially into its upward cycle and that the current upward trend in the minor metals sector could continue for a number of years as China - which has historically been the major supplier of a significant number of the Investment Minor Metals - struggles to meet global demand as it introduces a tighter strategic management policy of its resources," he added.

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