Karaganda gold and copper mines secure $100m EBRD loan

Koktaszhal copper mine Kazakhstan

Two companies involves in developing the Karaganda gold and copper mines in Kazakhstan have secured a $100m loan from the EBRD, the development bank confirmed today. “The proceeds of the loan will finance the development of the Koktaszhal mine and the construction of an ore-processing plant to produce copper-gold concentrate,” the bank said of the loan, which will be channelled through the Kazakh companies Altai Polimetally and Terekty Ken Baity, and which will be used to procure state-of-the-art milling and processing equipment. “Kazakhstan has significant reserves of copper and gold and the Koktaszhal project will support the development of a new deposit that meets the heightened standards for resources and energy efficiency.” To date, the EBRD has invested over $6.8 billion in various sectors of  Kazakhstan’s economy.

Source: TREND