Kazakhmys PLC recently revealed that its board has approved a plan to build the second large copper mine in East Kazakhstan with a total cost of USD 2 billion.The company has gotten promise for loans worth USD 1.5 billion from China Development Bank.
The exploration will start from early 2013,oxide ore body exploration from 2015 and sulfide ore body exploration from 2016.Time limit for exploration surpasses 50 years with equivalent production units for cathode copper average 104 kilotons in the first ten years.The average copper tenor is 0.33%.
Source:
http://www.steelguru.com/metals_news/China_Bank_to_fund_copper_mining_in_Kazakhstan/294781.html
