After a history of avoiding the limelight, Kazakh mining company Eurasian Natural Resources Corporation has this week done its best to grab the headlines.

As well as making a dramatic entry into the top third of the FTSE 100 index, the highest debut for some time, ENRC announced it had held “informal dialogue” with its fellow Kazakh miner Kazakhmys about a combination of the two companies. A deal would form a Kazakh national champion in the mining and metals industry worth about £20bn, with a leading position in ferrochrome, iron ore, copper and aluminium.