23 May 2006
23 May 2006
Kazakhmys PLC Joins the Extractive Industries Transparency Initiative
The Board of Kazakhmys PLC today announced that it is joining the Extractive
Industries Transparency Initiative ("EITI")
EITI was announced at the World Summit on Sustainable Development held in
Johannesburg in 2002 and launched by the British Prime Minister, Tony Blair, at
the Lancaster House conference in London in 2003.
EITI is a voluntary organisation supported by governments, companies and a
number of other interested parties. Its primary aims are to ensure that
government revenues from extraction industries are transparent and fully
accounted for and contribute to sustainable development and poverty reduction in
the countries in which payment is made.
Over twenty countries have now endorsed or are actively implementing EITI
including Kazakhstan. In June 2005, President Nazarbayev announced Kazakhstan's
endorsement of EITI.
For further information please contact:
Jinsoo Yang, Head of IR Tel: +44(0)845 080 2369
Sergei Stephantsov, Deputy Head of IR
Morgan Bone Tel: +44 20 7251 3801
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Notes to Editor
The Group's principal business is the mining, processing, smelting, refining and
sale of copper and copper products, including copper cathode and copper rod, and
is carried on by the Company's main subsidiary LLC Kazakhmys Corporation
("Kazakhmys"). Based on 2005 production, the Group is the 10th largest producer
of copper cathode and mined copper in the world. The Group's operations are
vertically integrated. Kazakhmys operates 19 open pit and underground mines and
two smelting and refining complexes in the Republic of Kazakhstan. Kazakhmys
also owns significant rail infrastructure in Kazakhstan and MKM, a copper
products fabrication company in Germany.
This information is provided by RNS
The company news service from the London Stock Exchange