KAZAKHMYS PLС (United Kingdom) announces results of May 11, 2011 annual general meeting of its shareholders
/KASE, May 14, 12/ - KAZAKHMYS PLС (London), whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of May 11, 2012:
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Today Kazakhmys group held the annual general meeting of its shareholders summarizing its Y2011 operating results.
Last year all units of the Group reached positive production and financial results. In August 2011 the Board of Directors approved development of Bozshakol mine, where currently active works are being performed. In December 2011 Kazakhmys signed an agreement with State Development Bank of China on a loan facility of up to USD1.5 bn foe developing Aktogai mine in East Kazakhstan. The company has been carrying out a USD6 bn investment program, the largest in Kazakhstan, including expenditures aimed at increasing the capacity of energy assets. These investments will allow an increase in the copper production from 300 thousand tons to 5000 thousand tons within the next 6 years.
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The full press-release is available on KASE website, at:
[2012-05-14]