China Nonferrous Metals Mining Group Co Ltd (CNMC) executives met with Kazakh government representatives on Thursday to discuss investment in a 300,000-tonne copper cathode plant, Kazakh state news agency Kazinform reported.
According to state media, Liu Yu, deputy director general of state-owned CNMC, met with Marat Karabayev, minister of industry and infrastructure development, in the Kazakh capital Astana.
Kazakhmys Corp, Kazakhstan's largest copper producer, and Kazakh miner KAZ Minerals will also participate in the project, according to state media.
A request for comment was not returned by CNMC.
With numerous investments, CNMC has taken the lead in developing China's overseas nonferrous mineral resources. It also has an electrolytic aluminium project in Kazakhstan.
According to the US Geological Survey, Kazakhstan has copper reserves of 20 million tonnes. According to Kazakh Statistics Bureau data, the country produced 453,003 tonnes of refined copper in 2022, up 12.7% from the previous year.
In early Friday trading, shares in China Nonferrous Metal Industry's Foreign Engineering and Construction rose 2%.
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