Polymetal Company expands its presence in Kazakhstan. Today the company announced about its intension to purchase 85% of shares in Vostochno Tarutinskoe Rudoupravlenie in Kazakhstan. The rest 15% share belongs to Kazakhstan government company SPK Tobol which is the holder of contract and rights to use natural resources at Vostochno Tarutinskoe Rudoupravlenie at the area of 66.4 square kilometers. The cost of the deal is not disclosed.

Polymetal entered Kazakhstan last year having acquired the rights for Varvarinskoe gold and copper deposit. Vostochno Tarutinskoe is located approximately in 135 kilometers from Varvarinskoe and adjoins to Kazakhstan border with Russia and also contains gold and copper resources. As Polymetal informs, metals content in the ore is varying from 0.3% to 1.5% of copper and up to 1 gram of gold per tonne.

(Sourced from Rusmet.ru)