ENRC to Invest $7bn in Kazakhstan

24 January 2011 (Last Updated January 24th, 2011 18:30)

The Eurasian Natural Resources Corporation (ENRC) is planning to invest around $7bn in proposed mining development programmes in Kazakhstan. The firm will invest $2bn to expand the operational capacities of the Sokolovsko-Sarbaiskoye Mining Production Association, and construct a ferroal

The Eurasian Natural Resources Corporation (ENRC) is planning to invest around $7bn in proposed mining development programmes in Kazakhstan.

The firm will invest $2bn to expand the operational capacities of the Sokolovsko-Sarbaiskoye Mining Production Association, and construct a ferroalloy plant worth $750m in Aktobe.

ENRC Kazakhstan CEO Felix Vulis announced the plans at a press conference after signing a memo on cooperation in social projects development with Akimat in the Karaganda region.

ENRC also plans to augment its production development in the region and increase coal mining in the Shubarkol open cast coal mine.

The corporation also plans to conduct a feasibility study for its Zhairem project, which will develop polymetallic ore.