Kazakhmys launches development of Kyrgyz deposit

Jan 11. News Agency “24.kg”

By Anton LYMAR

Kazakhmys launches development of Kyrgyz depositKazakhmys PLC has started an active development of Bozymchak gold-copper deposit in Ala-Buka district, Jalalabad region of Kyrgyzstan, Kazinform news agency reported.

Bozymchak is an attractive project which will considerably replenish mining reserves of Kazakhmys, Oleg Novachuk Chief Executive Officer of the company said.

Financing of the project will make up $100 million. The deposit will provide jobs for at least 500 Kyrgyz and Kazakh citizens. Nowadays the project has all it needs for its successful implementation, the chief executive officer said.

Primarily, the deposit will be developed in form of an open-pit mining while switchover to closed mining will be started in 2014. Total volume of mined ore for 17 years of development will come up to 16 million tons.

Construction of a processing plant at the mine’s territory will be expectedly completed by the fourth quarter of 2010.

Kazakhmys PLC is a leading international natural resources group, listed in the UK and Kazakhstan, with significant interests in copper, gold, zinc, silver, power generation and petroleum.

It is the largest copper producer in Kazakhstan and one of the top ten worldwide with 20 mines, 10 concentrators and 2 smelters.