OREANDA-NEWS. On 17 July 2008 Kazakhmys PLC (“Kazakhmys”) announced 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.”