(Alliance News) - Kaz Minerals PLC on Friday said it is in talks with the Russian government for constructing a new port and power plant for the Baimskaya copper project, located in Chukotka region of north east Russia.
The new proposal under consideration is for the construction of a new port and liquefied natural gas power plant at Cape Nagloynyn in Chaunskaya Bay.
The LNG power plant would provide power for the operations phase of the Baimskaya project site. This would be linked by 400 kilometres of road to the new port, which would be used for the shipment of concentrate, Kaz Minerals explained.
"Discussions with the Russian government are ongoing. Further details will be announced as appropriate," the company said
Shares in Kaz Minerals were up 0.3% at 587.80 pence each in London on Friday morning.
By Tapan Panchal; tapanpanchal@alliancenews.com
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