BAKU, Azerbaijan, Aug. 13
By Nargiz Sadikhova - Trend:
Kazakhstan’s KAZ Minerals group of companies are continuing to work on the details of the power and transport infrastructure required for the Baimskaya copper project in cooperation with the Russian government, Trend reports with reference to the company
The company noted that a new proposal under consideration is for the construction of a new port and LNG power plant at Cape Nagloynyn in Chaunskaya Bay in Russia's Chukotka Autonomous Area in the Russian far east.
“The LNG power plant will provide power for the operations phase. The Baimskaya project site will be linked by approximately 400 km of road to the new port to be used for the shipment of concentrate,” the company said.
The Baimskaya copper project in Chukotka is one of the world’s most significant undeveloped copper assets with the potential to become a large scale, low cost, open pit copper mine.
The estimated capital budget for construction is around $7 billion, with about 10 percent of the capital budget expected to be incurred after production commences from the first line.
The project is currently at feasibility study stage and the results of the bankable feasibility study are expected to be published by the end of 2020.
KAZ Minerals is a high growth copper company focused on large scale, low cost open pit mining in the CIS region, with a proven track record for the successful delivery of greenfield mining projects.
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