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EBRD supports environmental programme in Balkhash
Kazakh Kazakhmys copper smelter upgrades environmental standards
To improve environmental standards in the Kazakh copper industry, the European Bank for Reconstruction and Development (EBRD) is providing a US $20 million loan to Kazakhmys Corporation, a major copper processor in the country. The funds will help Kazakhmys implement an environmental rehabilitation programme for the Balkhash smelter with a goal of achieving World Bank/EU environmental standards.
Environmental standards in the copper and metallurgical industries play a pivotal role given the impact such industry has on both local citizens and the Kazakh economy, said Noreen Doyle, First Vice President of the EBRD. This loan will enable Kazakhmys to upgrade environmental standards for the plant that will benefit the people of Balkhash, Ms Doyle added.
Providing Kazakhmys access to long-term finance, limited in the industry to date, will enable Kazakhmys to further develop its information systems and production automation systems. Implementation of the environmental programme should set a standard for Kazakhmys' other operations, as well as for the industry as a whole.
Proceeds of the loan, the Bank's first industrial loan to a locally owned Kazakh company, will also be used for new technology allowing efficient neutralisation of sulphur dioxide leading to the improvements in the quality of air.
Total signed projects in Kazakhstan amounted to € 267.40 million this year.
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