Kazakhmys sold gold worth $115 million to Kazakhstan National Bank

Kazakhmys corporation sold gold worth $115 million to Kazakhstan National Bank in the first quarter of 2012, Interfax-Kazakhstan reports citing the corporation’s message. Last August the National Bank announced its intention to use the priority right to purchase fine gold bullions. This decision is related to implementation of Kazakhstan's rules of non-tariff regulation at the precious metals market under the Customs Union. In particular, Kazakhstan is introducing state control over import and export of precious metals and raw materials containing precious metals and giving the state the priority right to purchase export-aimed fine gold bullions for replenishment of gold reserves of the National Bank. Kazakhmys is the biggest copper producer in Kazakhstan and one of top ten copper producers in the world. The group is responsible for significant shares in production of gold, zinc, silver, power energy and oil. Kazakhmys is listed at the London Stock Exchanges (LSE) and Kazakhstan Stock Exchanges (KASE).