Evraz Group announced it would like to acquire a share holding of Highveld Steel and Vanadium Corp. for $11.4 per share; the group currently owns approximately 51.4% of Highveld’s shares, and is willing to buy more until July 4, 2007 (the deadline might be extended). Besides, Evraz Group possesses a call option (24.9% of Highveld’s shares belonging to Credit Suisse), Evraz Group’s press officer reports.

‘We believe the price we offer is quite fair and appealing; it actually reflects Highveld’s business potential and is about 31% higher than the price Evraz had to pay Anglo American for a majority share holding. We feel this price is relevant to the company’s worth,’ Alexander Frolov of Evraz Group says.