KAZ Minerals acquired the Baimskaya copper project from Aristus for $436m.

KAZ Minerals, a copper company focused on large scale, low cost open pit mining in Kazakhstan, acquired the Baimskaya copper project from Aristus, a holding company which provides mining services. for $436m. Oleg Novachuk, Chairman of KAZ, said: "We are pleased to announce the completion of the acquisition of Baimskaya, one of the world's top ten undeveloped copper deposits. KAZ Minerals is ideally positioned to deliver this project due to its similarity to the low cost, open pit mines we recently completed and ramped up in Kazakhstan, on time and on budget. Combined with our expansion project at Aktogay, we have an industry-leading pipeline of near and long term growth in copper, to be delivered over a period when the market is forecast to enter a significant supply deficit. I look forward to updating shareholders on progress as we embark on this new phase of transformational growth."