PM: Government to approve KAZ Minerals purchase of Baimskaya zone

GORKI, Moscow Region, Dec 4 (PRIME) -- The Russian government’s commission for control over foreign investment is likely to approve acquisition of a stake in the Baimskaya polymetallic ore zone by Kazakhstan’s KAZ Minerals, Prime Minister Dmitry Medvedev said on Tuesday.

“We have just had (a meeting) of the commission for control over foreign investments, we’ve considered one of the issues concerning the Chukotka Autonomous District among other ones… In general, the decision can be positive if certain conditions, usually imposed on an investor by the commission are met,” Medvedev told Roman Kopin, the governor of the Chukotka Autonomous District, where the zone is located.

Copper producer KAZ Minerals signed an agreement to buy the Baimskaya copper project from Roman Abramovich for U.S. $900 million on August 2.

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