ASTANA (TCA) — A Chinese investor plans to spend US $2 million for construction of an ore enrichment plant in Kentau in the South Kazakhstan Region.
A memorandum of understanding for the project was signed on December 12 between the Chinese investor, the Akimat (administration) of Kentau, and the Chamber of Entrepreneurs of the South Kazakhstan Region, the Atameken National Chamber of Entrepreneurs of Kazakhstan reported on its website.
The plant will be located in the industrial zone of Kentau. It is planned within this project to enrich ore to produce a copper-gold concentrate required in the steel industry, in particular for the industrial enterprises of Kazakhmys and Kazzinc.
For the implementation of the investment project, LLP Kentau Polymetal was created, the founders of which are a citizen of China and a resident of Kentau.
Gold deposit Jubilee, located in the western part of Kazakhstan, will be the supplier of ore for the processing plant.
The capacity of the plant will be 65 thousand tons of copper-gold concentrate per year (200 tons per day). The implementation of this investment project will create 100 new jobs in Kentau. According to the memorandum, 90 percent of the plant workers will be local residents.
The sides expressed interest in the successful implementation of the investment project. During the meeting in the office of the Chamber of Entrepreneurs of the South Kazakhstan Region, representatives of the Chinese company also spoke about the need for detailed advice on the legislation of Kazakhstan for the support of investment projects. The Chamber pledged to provide comprehensive legal services and other support to the Chinese partner.