Eurasian Natural Resources Corp. (ENRC) is working on a plan with Credit Suisse Group AG and Morgan Stanley to spin off its African business, the Sunday Times reported, citing people close to the matter.

Eurasian Natural Resources said in an e-mailed statement it notes the newspaper article. Whilst the company continues to evaluate various options, no decision has been made, it said.

To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net