Kaz PLC announces Investment to Progress Major Growth Projects 170608

Document Sample
Kaz PLC announces Investment to Progress Major Growth Projects 170608 Powered By Docstoc
					                                                      KAZ AKHMYS PLC
                                                      6 TH FLOOR
                                                      CARDINAL PLACE
                                                      100 VICTORIA STREET
                                                      LONDON SW1E 5JL
                                                      Tel: +44 (0) 20 7901 7800
                                                      Company registered in England and Wales
                                                      Company Number: 5180783

                                                                                                17 June 08

                   GROWTH PROJECTS

Kazakhmys PLC has approved the investment of up to $50 million dollars to purchase
equipment for the Boschekul and Aktogay copper projects. The purchase will include some of
the required major grinding mills, which will be able to process over 20 million tonnes of ore
per annum.

Boschekul and Aktogay are both currently in pre feasibility stage and are expected to move to
feasibility in the first half of 2009. The lead times for delivery of large mining items has
increased in recent years, so that ordering for this equipment is required now, in order to
receive the equipment in mid 2011 and meet the project schedules.

Oleg Novachuk, Chief Executive Officer of Kazakhmys PLC said “Our confidence in the
progress being made at our major growth projects at Boschekul & Aktogay is such that we are
making this commitment now, in order to ensure that the projects remain on schedule and our
future growth is delivered”.

For further information please contact:

 Kazakhmys PLC
 John Smelt              Head of Corporate Communications                    Tel: +44 20 7901 7882
                                                                             Tel: +44 78 7964 2675
 Olga Nekrassova         Financial Analyst                                   Tel: +44 20 7901 7814
 David Simonson                                                              Tel: +44 20 7653 6620
 Tom Randell                                                                 Tel: +44 20 7653 6620
 Leonid Fink                                                                 Tel: +44 20 7653 6620

- ends -

Kazakhmys PLC is the largest copper producer in Kazakhstan and one of the leading copper
producers in the world. Kazakhmys is a fully integrated copper producer from mining ore through to
the production of finished copper cathode and rod. The Group produces significant volumes of other
metals as by-products, including zinc, silver and gold. Existing operations include 20 open pit and
underground mines, 10 concentrators, two copper smelting and refining complexes, a copper rod
plant, a zinc plant and a precious metals refinery. Production is backed by a captive power supply and
significant rail infrastructure. Kazakhmys also owns MKM, a copper products fabrication company in
Germany, and has Gold, Power and Petroleum Divisions with assets in Kazakhstan and other parts of
Central Asia. The Group’s strategic aim is to diversify and participate in the development of the
significant natural resource opportunities in Central Asia.


Shared By:
Description: Kaz PLC announces Investment to Progress Major Growth Projects 170608