Kazakhstan-based Kaz Minerals plans to increase its copper production by developing the Baimskaya copper project in Siberia, having taken control of the asset in January 2019.
The company announced its acquisition of Baimskaya at a cost of $900 million in August 2018, and finalized the acquisition this year.Kaz forecasts that, once production at the mine begins, it will average 250,000 tonnes per year of copper over the first 10 operational years of its expected 25-year lifespan. The company gave no indication of when production would begin, however.This...