Kazakhmys PLC ("Kazakhmys" or the "Group") announces that it has appointed Non Ferrous China as a second principal contractor at the Group's major copper growth project at Bozshakol. The additional resources will be targeted on the construction and commissioning of the processing plant.
The Group anticipates that there will be an increase in the overall budgeted cost for the project of around $350 million, however the appointment of the additional contractor will provide greater assurance that the project remains on track for first production in 2015.
The main process building at Bozshakol has been enclosed for the winter season and the three mills were delivered to site on time.
The Group is considering a similar strategy of introducing additional resource at Aktogay.
Oleg Novachuk, Chief Executive of Kazakhmys, said: "The delivery of our major growth projects is central to the future development of Kazakhmys and the Board believes it is in the best interests of the Group and its shareholders to bring additional resource to ensure that commissioning remains on track. Non Ferrous China has a strong track record in significant construction projects with experience in Kazakhstan."
