Tau-Ken Samruk and Kazakhmys negotiate upon geological exploration at copper deposits in Kazakhstan

Tau-Ken Samruk and Kazakhmys will sign the agreement for joint geological exploration at copper deposits in Kazakhstan, the Chairman of Tau-Ken Samruk Board B. Svyatov reports. If we discover copper reserves then the companies will start joint production. He says that geological exploration is very risky in Kazakhstan, there’re no hidden treasures there and the companies have to look for and to invest the rest of their funds. The national company will invest 450 million tenges into equipment purchase and into the foundation of a geological exploratory company that will set the perspective sites for geological exploration. All this will be executed with probable attraction as strategic partners of large Kazakh companies that suffer from or will suffer from lack in mineral reserves base. Tau-Ken Samruk is ready to operate upon such scheme with Kazakhmys, ENRC and Kazzinc and with the companies of transnational level that do not operate at large objects in Kazakhstan as yet. He says that ENRC has a problem of some other kind compared to Kazakhmys. They are replenishing for future their bauxite mineral reserves base. Mr. Svatov says that his company works equally with all partners but the priority by dates is set by these entities themselves.

Translated by Nadezhda Poltoratskaya

Source: http://www.geonews.com.ua/index.cgi?a=40808

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