KAZ Minerals intends to buy the controlling stake in the Baimskoye copper-porphyry deposit (Chukotka) development in June-July.
The license to develop the deposit is owned by Baimskaya LLC.
KAZ Minerals is expected to pay $1 billion and also submit a part of its shares.
According to Goldman Sachs, the development of the Baimskoye deposits is estimated at $4.2 billion.
The commissioning of the project is scheduled for 2023.
JORC resources of the deposits are estimated at 9.5 million tons of copper with the average copper content of 0.43%, as well as 16.5 million ounces of gold (0.23 g per ton). (Ukrainian metal)