Kazakhmys produced 203,494 tons of copper during January - July of 1999

/Almaty office of REUTERS, 04.08.99/ - Kazakhstan copper corporation Kazakhmys increased the production of refined copper up to 203,494 tons in seven months of this year compared to 192,494 tons for the comparable period of last year, told to Reuters the head of company's public relations department. "In seven months of this year the corporation produced 203,494 tons of refined copper, which is more than last year's figure by 11,000 tons. I believe we will reach our goal of producing 350,000 tons of copper a year", - said Vyacheslav Nikolaev during his phone call from Jezkazgan. Since the beginning of the current year the corporation has produced 999 kilos of gold bars, 233,000 kilos of silver in granules, also 50,000 tons of concentrated zinc. Nikolaev mentioned that the corporation had been successful in putting Irtysh copper smelter back on its feet, which has not been working for a year. When the smelter was idle debt on unpaid wages reached an amount of about $5 mln. "With the help of the corporation Irtysh copper smelter began working on July 19. By the beginning of the last decade of July 777 tons of unpurified copper were produced here, which went to Balkhash copper smelter for the refining", - he said. Irtysh smelter, which found itself in difficult economic situation, has a production capacity of 50-60 tons of copper a year. Nikolaev said that the government had asked Kazakhmys to support this enterprise for the amount of 400 mln. tenge. "Still it is hard to say how much was spent by the corporation to revive the enterprise. When the dilemma about purchasing the complex by Kazakhmys corporation will be solved, apparently, these expenses will be taken into account", - he said. Earlier, Kazakhmys corporation stated about its intentions to purchase Irtysh copper smelter along with the mines and an enrichment factory related to it. "The question about the ownership is still poorly addressed - it is necessary to answer legal questions, to break the contract with previous owners of the entity. Irtysh copper smelter has changed its owners three times already; the situation is very bad. But Kazakhmys will certainly take part in the privatization of this enterprise", - he said. Nikolaev said that the corporation was also intended to put into operation a new mine near Jezkazgan with the capacity of up to 2 million tons a year from November 1. Kazakhmys corporation is the biggest enterprise in copper industry. It has been established on the basis of Djezkazgantsvetmed in 1997 and embodies some of metallurgical enterprises and mines of the republic. South Korean company "Samsung" owns 40% shares of the corporation.