(Alliance News) - Kaz Minerals PLC on Tuesday said it signed an agreement to confirm a special tax status for its Baimskaya copper project in Russia.
The project is located in a Territory of Accelerated Social & Economic Development, making it eligible for tax incentives. The tax status was confirmed by the Russian government on Tuesday, in line with Kaz's assumptions when acquiring the open-pit project in January 2019.
Baimskaya is located in the Chukotka region in the far east of Russia.
Kaz Minerals shares were down 0.1% to 867.28 pence in London. The wider FTSE 250 index was up 1.2%.
By Ivan Edwards; ivanedwards@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
