Katz Mining Company completes acquisition of Baimskaya Copper Project in Russia

SMM, January 23-Katz Mining Company (Kaz Minerals) said it had completed its US $436 million acquisition of the Baimskaya copper project in Russia after being approved by the relevant regulatory authorities.

'We are pleased to announce that the acquisition of Baimskaya, one of the top 10 undeveloped copper mines in the world, has been completed, 'said Novachuk (Oleg Novachuk), chairman of the company.

Katz Mining is in an ideal position to deliver the project because it is similar to the low-cost open-pit mine that we recently completed in Kazakhstan and increased on budget.