/KASE, 15.07.08/ - /KASE, July 15, 08/ - Company KAZAKHMYS PLC (London),
common shares of which are traded in the Kazakhstan Stock Exchange (KASE)
category "A" official list, provided to KASE the press release of July 14, 2008,
where informs on the following:
Quotation start
KAZAKHMYS PLC (UNITED KINGDOM) ANNOUNCES PROGRESS OF
BOZYMCHAK GOLD PROJECT TO FEASIBILITY STAGE
Kazakhmys PLC ("Kazakhmys") announces that the Bozymchak Gold Project in
Kyrgyzstan has successfully completed its pre-feasibility study, and the Board of
Kazakhmys has approved progressing the project to the feasibility stage. At the
same time lead investment of up to $22 million has been approved for the
project.
The feasibility study should complete by the end of 2008 and will continue to be
managed by consulting engineers WorleyParsons. Extraction of ore should
commence in 2009 and it is anticipated that annual production will be 30 koz of
gold and 7 kt of copper.
The investment of $22 million will be for establishing essential infrastructure
and will ensure that the project remains on schedule.
Oleg Novachuk, Chief Executive Officer of Kazakhmys PLC said "Bozymchak is
an attractive project and we are pleased that it continues to make good progress
towards production. This is one of many opportunities that we believe exist in
the region and we believe we are uniquely placed to bring these projects to full
development."
Quotation end
The full version of the mentioned press release of KAZAKHMYS PLC is available
on the KASE site at:
-
http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_150708.pdf - in
Russian;
-
http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_150708e.pdf - in
English.
[2008-07-15]