OREANDA-NEWS. February 16, 2010. KAZAKHMYS PLC, listing on Kazakhstan Stock Exchange (KASE), provided KASE with a press release, reported the press-centre of KASE:

The Kazakhmys Group provided details to Pavlodar Akim Bakytzhan Sagintaev on strategic development of Bozshakol deposit - arguably one of the largest copper projects worldwide. The Group is going to spend up to USD2 bn from the loan obtained within the credit line provided to National wellbeing  fund Samruk-Kazyna by the China Development Bank.

The proposed capacity of the mining complex is 25 million tones a year (roughly 100 th tones in concentrate). The first concentrate will be obtained in 2014. The deposit will as well mine molybdenum and gold in concentrate.

A 27-km conduit will be built from Shudertinsk reservoir to supply water, and a 85-km high tension line will be built from Ekibastuz GRES-1 to supply energy. The mining complex will comprise industrial buildings, man camp, support facilities, warehouses, communications, power lines, conveyers, railways and highways. Roughly 4500 people will be engaged to build the complex, and 1500 people will work at the complex.

Oleg Novachuk, Kazakhmys CEO commented: "The provided financing will allow for actively developing Bozshakol deposit. We have thoroughly introduced the project and agreed on the project targets with Bakytzhan Adbirovich. We are confident our joint fruitful activity will facilitate further economical and social rise in the region and in the country".