OREANDA-NEWS. May 31, 2011. Kazakhmys PLC ("Kazakhmys" or the "Company") announces that the Board has given final approval for the proposed listing on the Hong Kong Stock Exchange. As noted in the press release, the listing is expected to be completed by the end of June 2011, reported the press-centre of KASE.

The Board believes that issuing new shares at current share price levels would not create value for existing shareholders. The listing will, therefore, be by way of introduction and will not be accompanied by the offering of new shares.

The Board may consider issuing some shares into the Hong Kong market at a later date, in order to assist liquidity.  Any future issuance will depend upon share price levels and capital requirements, particularly as the major growth projects at Aktogay and Bozshakol move forward.

Oleg Novachuk, Chief Executive Officer of Kazakhmys PLC said: "A listing in Hong Kong is important for the strategic development of Kazakhmys and we look forward to completing this shortly.  At current share price levels and with the strength of our balance sheet, it would not create value for existing  shareholders to issue new shares at this time.  We will continue to assess our position, as our growth projects develop and market conditions change."