KAZAKHMYS PLС (United Kingdom) announces Y2011 results of East Kazakhstan operations
February 16. KASE
Kazakhmys group presented results of its operations in East Kazakhstan region for 2011 at the summarizing meeting with the participation of akim Berdybek Saparbaev and CEO of LLP “Corporation Kazakhmys” Eduard Ogai.
At the most of mines of PO “Vostokzvetmet” last year positive results were achieved. The production volume during 12 months 2011 increased by 2% compared with last year, making up around 4.7 m tons. The contents of copper, lead and zinc in the extracted ore made up 114 thousand tons, 21 thousand tons and 185 thousand tons, respectively.
The company heavily invests in the modernization of its production in the regions. Last year the program of modernization of cement preparation for backward placement was completed at Artemiev mine. In 2012 a reconstruction of Nikolaev enrichment plant will be completed, with costs making up around USD70m.
* * *
Kazakhstan starts developing major copper deposit
Feb 16. Trend. Astana
Kazakh Corporation Kazakhmys began to develop one of the largest undeveloped copper deposits in the world, the corporation said on Thursday.
“Development of Aktogay deposit, one of the largest undeveloped copper deposits in the world, has been started in the East Kazakhstan region. Projected annual production is about 100,000 tons of copper in concentrate with mine operation life of approximately 40 years,” the corporation said.
Feasibility study of the project will be prepared by late 2012 with the subsequent implementation of investment program with an expected cost of $1.5 billion-$2 billion.