Kazakhmys plans to buy stake in ENRC

Kazakhmys, the largest copper producer and one of the largest zinc producers in Kazakhstan, plans to buy an 18.8 percent stake in the country's natural resource group Eurasian Natural Resources Corporation (ENRC), which holds large iron ore deposits and aluminum assets.

Market analysts believe that this acquisition will put Kazakhstan's metallurgical industry on the way toward consolidation, with Kazakhmys playing a leading role in the process.