Kazakhmys (Kazakhstan) produced 291.5 th. tons of copper in 9 months of 2000

/IRBIS, Oct.10, 00/ - REUTERS informs, with the reference to the head of public relations department of Kazakhmys, that the corporation increased the production of refined copper to 291,500 tons during 9 months of this year from 266,000 tons produced during similar period of last year. He said that growth was due to an improvement of raw material base which in turn was due to the development of new mines, productivity increase, reconstruction of concentration plant and purchases of new equipment. The growth of ore production by the companies of the corporation grew up to 27.680 mln tons from 24.840 mln tons of similar period of last year, he added. The corporation is said to plan the construction of new mines such as Jaman-Aibat, Shatyrkol, Artemevskii, as well as a new zinc plant at Balkhash. He said that this year the corporation intended to invest into the production up to $90 mln compared with $57 mln of last year, with the funds to be used in purchasing new equipment and machinery, reconstruction of metallurgical production and concentration plants. The amount allocated to the environmental problems of the Balkhash is said to reach $15 mln of this money, mainly used for sulfur production facility that has to catch sulfuric gases. All the money, that is $90 mln, is said to have been earned by the corporation itself, and there have been no outside investments. During 9 months of this year the corporation Kazakhmys is said to have produced 69,000 tons of concentrate zinc (68,000 in similar period of last year), silver in granules - 415 tons (299), gold bars - 2.787 kilograms (1.482). commodity output is said to have grown up to KZT822,350 bln in 9 months from KZT51,609 bln in 9 months of 1999 due to the devaluation of tenge in last year and stabilization of copper price on the world market. He believes that current prices for copper are good. The corporation Kazakhmys is said to be the biggest producer of copper in Kazakhstan, with its 42% stake controlled by the South Korean Samsung, and the president of the corporation, Vladimir Kim, owning 35% of the shares.