Kazakhmys PLC

13 June 2011

Kazakhmys PLC Announces Memorandum of Understanding Towards $1.5 Billion of Funding for the Major Copper Project at Aktogay

Kazakhmys PLC (�Kazakhmys�) announces that it has today signed a memorandum of understanding (�MOU�) with the China Development Bank Corporation (�CDB�) to secure a $1.5 billion loan facility, to develop the major copper project at Aktogay in Kazakhstan.

Further negotiations will be undertaken to move the MOU to a full loan agreement by the end of 2011. This loan will be in addition to the existing CDB loan facility of $2.7 billion, which is being used for the development of the major copper project at Bozshakol and a series of midsized projects.

Oleg Novachuk, Chief Executive of Kazakhmys, said: �We are delighted to be developing our relationship further with CDB. This funding will allow us to develop Aktogay and yet retain full ownership of the asset. Our two major growth projects, Aktogay and Bozshakol, should produce around 200 kt of copper in concentrate each year, equivalent to 60% of our current production, which is significant for Kazakhmys and for the growth of the metals industry in Kazakhstan.�

Please click here to view the full document 

http://www.kazakhmys.com/

To unsubscribe from all future Kazakhmys mailings, please click or copy to your browser the following link: