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Kazakhstan Daily News Roundup – August 26, 2011 0

Posted on August 27, 2011 by Alex

ENERGY:

LG Chem to build $4-billion petrochemical plant in Kazakhstan
(SRI) – LG Chem, South Korea’s largest chemical company, signed a $4-billion deal on Thursday to develop a long-planned petrochemical complex in Kazakhstan, the company said in a statement.

Kazakhstan, Korea agree on guarantees for the Balkhash power plant project
(SRI) – Kazakhstan and South Korea signed an “intergovernmental agreement” on Thursday guaranteeing Korean companies a 70% stake in a $4.5-billion project to develop and finance the construction of a coal-fired power plant in the city of Balkhash.

Kazakhmys sells oil unit for $100 million (SRI)

KazMunaiGas, Korean oil consortium sign agreement on drilling rig (SRI)

BUSINESS AND ECONOMY:

Development Bank of Kazakhstan loses $61 million in first half (SRI)

Indicators – August 25, 2011 (Reuters)

METALS AND MINING:

Kazakhmys to buy back $250 million of shares listed in London
(SRI) – Kazakhstan’s Kazakhmys, a London-listed copper miner, said on Thursday its first-half profit before tax declined to $550 million from $631 million in the previous year and announced a share buyback worth up to $250 million.

Kazakhmys approves Bozshakol development project
(SRI) – Kazakhstan’s largest miner Kazakhmys has approved a $1.8-billion development of the Bozshakol deposit, a major copper growth project equivalent to a third of Kazakhmys’ current output, the miner said as it presented its first-half earnings.

Glencore to consider options for gold assets in 2012 (SRI)

Kazzinc accumulates copper concentrate stockpile worth $127 million (SRI)

Kazakhmys welcomes central bank’s decision to buy Kazakh gold (SRI)

REGIONAL:

PetroChina in Dushanzi refinery overhaul – sources (Reuters)

Russian spaceship crashes back to Earth (AFP)

SOURCE: http://silkroadintelligencer.com/2011/08/26/

 



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