Sinohydro International Engineering, a subsidiary of Power Construction Corporation of China (PowerChina), signed a $995 million copper exploration and mining contract with Kazakhstan's Kazdelltom Mining Company, QazMonitor reports citing Inbusiness.kz.
The ten-year contract provides for additional exploration and extraction of copper in the Aktobe region.
The site is located in the Aiteke Bi district in the northeast of the Aktobe region in Central Western Kazakhstan, approximately 1003 km from the capital, Astana.
Activities consist of construction contracting and the main content of the work includes the follow-up exploration of three blocks in the mining area and the implementation of mining and stripping activities in the northwest block during the ten-year mining and stripping period.
The project's follow-up exploration period is 12 months and the stripping period is 120 months.
Earlier, the Chinese corporation NFC signed a contract to build a $2.3 billion copper plant for Baim project Kaz Minerals with an annual processing capacity of 70 million tons of ore.