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Kazakhmys PLC (KAZ)

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Wednesday 13 January, 2010

Kazakhmys PLC

Announces signing of further

RNS Number : 4753F
Kazakhmys PLC
13 January 2010
 





13 January 2010


KAZAKHMYS PLC ANNOUNCES SIGNING OF FURTHER FACILITY AGREEMENT UNDER $2.7 BILLION FINANCING PACKAGE


On 30 December Kazakhmys announced the allocation of a $2.7 billion unsecured loan facility from the China Development Bank Corporation and Joint Stock Company Sovereign Wealth Fund Samruk-Kazyna 
("Samruk")
. Facility Agreements were signed with Samruk for $2.1 billion of the allocated funds, to be made available for the Boschekul and Bozymchak projects.


A further facility of $200 million was signed yesterday relating to the potential development of several existing mines. This brings the total value of the facilities signed to $2.3 billion.  The $400 million remaining under the $2.7 billion allocation is available for signing over the next 3 years and will be allocated to other growth projects once committed.


This additional facility will form part of the $2.7 billion of allocated funds which is subject to the approval of shareholders of Kazakhmys. A circular, providing further details, will be sent to shareholders in due course. 



For further information please contact:


Kazakhmys PLC
 
 
John Smelt
Head of Corporate Communications
Tel: +44 20 7901 7882
Tel: +44 78 7964 2675
Irene Burton
Financial Analyst
Tel: +44 20 7901 7814
Zulfira Mukhamediyarov
Senior Manager - Media
      Tel: +77 27 266 317  
Merlin
 
 
David Simonson
 
Tel: +44 20 7726 8400
Tom Randell
 
Tel: +44 20 7726 8400
Leonid Fink 
 
Tel: +44 20 7726 8400


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Notes to Editors


Kazakhmys PLC is a leading international natural resources group, listed in the UK and Kazakhstan, with significant interests in copper, gold, zinc, silver, power generation and petroleum.


It is the largest copper producer in Kazakhstan and one of the top ten worldwide with 20 mines, 10 concentrators and 2 smelters. Kazakhmys copper operations are fully integrated from mining ore through to the production of finished copper cathode and rod. Total copper cathode produced in 2008 from own ore was 343 thousand tonnes. Production is backed by a captive power supply and significant rail infrastructure. Kazakhmys also owns MKM, an upstream copper products fabrication company in Germany, which produces a range of pre- and semi-finished copper and copper alloy products.


Kazakhmys Copper produces significant volumes of other metals, including zinc, silver and gold. In 2008, it produced 48 thousand tonnes of zinc metal and 137 thousand tonnes of zinc concentrate. Kazakhmys is the fourth largest silver producer in the world (17 million ounces produced in 2008). 


Kazakhmys Gold, which acquired Eurasia Gold Inc in July 2007, includes substantial new development and exploration opportunities. The Group produced 179 thousand ounces of gold in 2008 and has measured and indicated resources of 2.3 million ounces.


Kazakhmys Power owns the coal fired Ekibastuz GRES-1 plant, the largest in Kazakhstan with a nameplate capacity of 4,000 MW. In addition, it owns the Maikuben open cast coal mine, supplying around 20% of the power plant's fuel requirements producing over 3.6 million tonnes of coal in 2008.


Kazakhmys Petroleum owns the East Akzhar exploration block, with an area of 602km², located on the eastern fringe of the Caspian depression. 


The Group is part of the FTSE-100 index of companies listed on the London Stock Exchange and is also listed on the Kazakhstan Stock Exchange (KASE). It had revenues of $5.2 billion in 2008 with EBITDA of $2.0 billion. The Group employs some 67,000 people, principally in Kazakhstan. The Group's strategic aim is to diversify and participate in the development of the significant natural resource opportunities in Central Asia.




This information is provided by RNS
The company news service from the London Stock Exchange
 
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