OREANDA-NEWS. December 1, 2007. Kazakhmys PLC announces that on 30 November 2007 it purchased for cancellation from JPMorgan Cazenove Limited 5,573,077 ordinary shares at an average price of 1,300.0 pence per share.  Following the cancellation of these shares, Kazakhmys PLC has a total of 462,008,288 ordinary shares in issue.
 
This purchase represented 47.7 per cent of the 11,686,855 shares placed by Credit Suisse on behalf of Mr Yun on 30 November 2007. As previously announced, Mr Yun retired as Chief Executive of the Company's operating subsidiary in Kazakhstan in August 2006.
 
On 5 September 2007, the Company announced a share buy-back programme of up to US$400,000,000. The aggregate number of ordinary shares repurchased and canceled by Kazakhmys PLC since the commencement of the share buy-back programme on 24 October 2007 is 8,025,577. At an average price of 1,319.18 pence per share this equates to a total of US$218,690,933.

Kazakhmys PLC is the largest copper producer in Kazakhstan and one of the leading copper producers in the world.  Kazakhmys is a fully integrated copper producer from mining ore through to the production of finished copper cathode and rod.  The Group produces significant volumes of other metals as by-products, including zinc, silver and gold.  Existing operations include 20 open pit and underground mines, 9 concentrators, two copper smelting and refining complexes, a copper rod plant, a zinc plant and a precious metals refinery.  Production is backed by a captive power supply and significant rail infrastructure.  Kazakhmys also owns MKM, a copper products fabrication company in Germany, and has Gold and Petroleum Divisions with assets in Kazakhstan and Central Asia.  The Group’s strategic aim is to diversify and participate in the development of the significant natural resource opportunities in Central Asia.