According to Bloomberg, KAZ Minerals said in a statement that after regulatory approval, the company completed the first phase of its acquisition plan for the Russian Baimskaya copper project and began a feasibility study on the new project.

KAZ Minerals agreed in August 2018 to buy undeveloped copper projects in the Russian far East in cash and stock transactions; Initially, 75 per cent of the shares will be bought for $675 million (22.3 million new shares will be issued and $436 million in cash paid) and the remaining 25 per cent will pay $225 million.

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