RMK to invest $600 million in Kazakhstan

Russkaya Mednaya Kompaniya (RMK) plans to invest 600 million dollars in Kazakhstan projects, Tengrinews reports citing Interfax-Kazakhstan. RMK ranks third in cathode copper production and second in copper wire rod production in Russia. Its accounts for 16% of Russia’s total copper production and about 1% of the world copper production. It is the biggest employer in Ural Region - the company employees more than 7 thousand people. RMK has operations in Russia (Sverdlovsk, Chelyabinsk, Orenburg, Novgorod, and Amur regions and Altai territory) and Kazakhstan (Aktobe Oblast). “In 2004 we started developing cooper pyrite deposits in Kazakhstan. Since then we have built and put into operation two mining and processing enterprises along with three mines. The amount of investments raised and used in Kazakhstan exceeds 500 million dollars. Currently, we are working on three more projects that will involve constitution of underground mines. We are planning to raise and spend 600 million dollars more of investments before 2017,” the company's Vice-President for Production Control and Investments Yury Korol said at the presentation of the investment projects during the Russian-Kazakh Business Council on Near-Border Cooperation meeting in Yekaterinburg. The Vice-President mentioned that the company uses modern technologies and equipment for the projects and added that through its investment projects it had created 1.6 thousand jobs in Kazakhstan and its was planning to create 2.5 thousand more jobs in 2013-2017.