Kazakhmys to increase copper production up to 400 th. tons in 2000

/IRBIS, March 17, 00/ - REUTERS informs, with the reference to the president of the company Vladimir Kim, that in year 2000 copper corporation Kazakhmys intends to increase copper production up to 400,000 tons from a little more than 360,000 tons of refined copper of last year. Previously, the representative of the company has said they would produce "at least 400,000 tons" in year 2000. The president of the company said before tax profit of the corporation in 1999 would be about KZT7 to KZT9 bln. He said it had been possible by using know-how and improving the technologies. Kim said from 1995 investments into fixed assets of Kazakhmys had amounted to $75 mln. Total amount of investments from Samsung Deutschland GmbH equaled $317 mln, he said. This is real money that came into the economy of Kazakhmys, said the president of the corporation to the prime-minister Kasymjomart Tokaev who arrived at Jezkazgan today. Corporation Kazakhmys, the biggest copper producer in Kazakhstan, was established in 1997 on the basis of Djezkazgantsvetmed and it incorporates a number of metallurgical plants, concentration factories, mines and energy companies. It is under the control of South Korean Samsung. The Statistics agency informs that the country's production of refined copper increased from 26,867 tons of January, 1999 to 34,801 tons in January of current year.