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Frontier Mining begins trading on Kazakhstan Stock Exchange

Frontier Mining begins trading on Kazakhstan Stock Exchange

Shares in copper miner Frontier Mining (LON:FML) begin trading on the Kazakhstan Stock Exchange (KASE) on Friday.

It will be one of 79 companies on the exchange, with a collective market cap figure of around US$32 billion.

The new listing complies with the regulatory requirements of the country's national bank.

This states all Kazakhstan registered businesses, or any business which has more than two thirds of its assets in the country, and at the same time holds a foreign listing, must also maintain a listing on KASE.

Frontier, which is also quoted on AIM, is developing its flagship Benkala asset, which has a resource of over 360 million tonnes of mineable ore, with potential for more. 

Operations began in April this year and the firm is trying to optimise operations there after teething problems.

This has included an upgrade of the solvent extraction-electro winning (SX-EW) plant to process 10,000 tonnes per annum (from 7,000tpa).

The firm has earmarked production to be in the range between 1,700 and 2,100 tonnes by the end of 2013.

Last month the firm said key goals in the near future were to advance its South Benkala project and its other project Baitemir, by extending and defining a compliant resource number.

It is also reviewing whether it can run the main Benkala operations all year round, rather than close down during the freezing winter.

Frontier shares were unchanged today on AIM at 1.075p.

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Frontier Mining Timeline

Newswire
January 23 2015

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