OREANDA-NEWS. Further to the Company's announcement, on 27 February 2014, of its intention to consider a broad restructuring of the Group, Kazakhmys now announces that it has entered into a definitive agreement to transfer certain of its mature assets in the Zhezkazgan and Central Regions of Kazakhstan to Cuprum Holding, a company owned by Vladimir Kim and Eduard Ogay, together with a Working Capital Payment. The agreement is subject to certain consents, approvals and conditions.

The parties have also entered into two Framework Services Agreements, enabling the Continuing Group and the Cuprum Holding Group to provide each other with transitional and longer-term services following completion.

Post-completion, the Continuing Group will continue to own the mining and producing assets in the East Region and the Bozymchak mine in Kyrgyzstan, as well as the Major Growth Projects, as further described in the Appendix to this announcement, and it is proposed that the Company be renamed “KAZ Minerals PLC”.

The Transaction will be conditional upon, inter alia, the approval of Shareholders and obtaining regulatory consents. In accordance with the Listing Rules, the approval of the independent Shareholders will determine the result of the vote.

A circular setting out further details of the Transaction, together with the notice convening a general meeting of the Company (expected to be held on 15 August 2014) and the form of proxy for use at the general meeting, will be posted to Shareholders this week.