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EastRussia Newsletter: KAZ Minerals Approves Cost for Gerbil

EastRussia Newsletter: KAZ Minerals Approves Cost for Gerbil
Photo: EastRussia

The board of Kazakhstan's KAZ Minerals has approved $ 150 million of capital expenditures to complete a banking feasibility study for the development of the Peschanka copper-porphyry deposit in the framework of Baimskaya Square in Chukotka, according to the latest EastRussia newsletter.

The company plans to organize additional deliveries of equipment, which may increase costs. The feasibility study is expected to be completed in the first half of this year.

KAZ Minerals is implementing a mine construction project on the basis of the field, the launch of which is scheduled for 2026. The capacity of the enterprise should be 250 thousand tons of copper and 400 thousand ounces of gold. The volume of investment in the project is estimated at 360 billion rubles.

Detailed analytics on this and other relevant topics can be found in EastRussia Weekly Newsletter.