Kazakhmys, the world’s 10th largest copper miner, has received a $1.5 billion copper loan from the China Development Bank (CDB), Financial Times reports. The financing will help Kazakhmys develop its Aktogay field in Kazakhstan without selling a stake in the deposit to China’s Jinchuan Group.
The company also secured a $2.7 billion funding from the CDB in 2009 to develop the Bozshakol mine. The Kazakh company’s projects are designed to boost its copper concentrate production by about 60%.
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