Chinese company receives share in the Kazakh copper mine
The Chinese company Non-Ferrous China received a 19.4% stake in the Kazakhstani Koksai project in exchange for investment. According to the information, NFC will invest $70 million in the field.
Information about the agreement was announced on June 8, 2018. The company then explained that $70 million from the NFC side is reserved funds for Koksai’s development, including a feasibility study. Within the framework of which a detailed model of mining and processing production and the associated capital budget will be determined.
China Nonferrous Metal Industry’s Non-Ferrous China’s is a state-controlled company, the shares of which are listed on the Shenzhen Stock Exchange. NFC was the lead contractor for KAZ Minerals projects, such as Bozshakol, Aktogay, and Bozymchak.
Koksay is a potential open pit mine development project located 230 km from Almaty. The mineral resources of the deposit are 736 million tonnes of ore with an average copper grade of 0.42%, containing 3.1 million tonnes of copper.
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