KAZ Minerals, a copper company focused on large scale, low cost open pit mining in Kazakhstan, sold a 19.4% stake in KAZ Minerals Koksay to China Nonferrous Metal Industry's Foreign Engineering and Construction Company, a Chinese corporation involved with the mining of non-ferrous mineral resources, for $70m. Koksay is a potential open pit copper mine development project in Kazakhstan, located around 230 kilometres from Almaty. The deposit has a mineral resource1 of 736 Mt at an average copper grade of 0.42%, with contained copper of 3.1 Mt. Oleg Novachuk, Chair, said: "We are pleased to welcome NFC as a partner in the Koksay project. We worked successfully with NFC in the construction of Bozshakol and Aktogay and we are looking forward to developing our relationship further as we assess this opportunity in Kazakhstan."