KAZ Minerals, one of the world’s major copper producers, is looking to raise a further $3bn in loans from China to build new copper and aluminium plants, Kazakhstan’s Deputy Investment and Development Minister Albert Rau said this week.
In March, the company announced that it was to team up with China’s Baiyin Nonferrous Metal Group to build a new smelter which is expected to produce 300,000 tonnes of cathode copper a year and to cost $1bn. Kazakhstan produced 294,000 tonnes of copper last year. KAZ Minerals and its Chinese partner are expected to complete forming their joint venture by the end of the month.
Source: The Astana Times