Join our community of smart investors

Kaz ups Baimskaya cost as investors push back on takeover

Russian copper project now to cost around $8bn after Kaz Minerals gets less government backing than anticipated
Kaz ups Baimskaya cost as investors push back on takeover
  • Kazakh miner ups projected cost of new project by $1bn.
  • Cash takeover by chairman and major shareholder receives pushback.
IC TIP: Await documents at 641p

Kaz Minerals (KAZ) did say shareholders would not like the bill for its Russian mine, Baimskaya. The feasibility study has now been delayed and the company has announced that the cost of the project will be around $8bn (£6bn), instead of the $7bn previously forecast.

To continue reading...
OR
Register for free
Read 3 articles for free each month
Have an account? Sign in