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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
November 19, 2020
  • 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.

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