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MEDIA-Kaz Minerals considers buying copper deposit from Abramovich - Kommersant

Reuters - UK Focus

MOSCOW, June 1 (Reuters) -

* Kazakhstan-focused Kaz Minerals (LSE: KAZ.L - news) is considering buying a controlling stake in Baimskaya (Baimskoye) copper deposit in Russia's far east from Russian billionaire Roman Abramovich and his partners, Kommersant newspaper reported on Friday, citing unnamed sources.

* The sources told Kommersant that Kaz Minerals could sign the purchase agreement in the nearest months and could agree to pay $1 billion in cash and its shares for the controlling stake in this project.

* The Russian government supports the future deal, Kommersant added.

* Russian mining giant Norilsk Nickel was previously considering taking part in this project.

* Kaz Minerals said in February it was evaluating the potential acquisition of a majority stake in the Baimskaya project. -- Source link: https://goo.gl/PW9FGn -- Note (Stockholm: NOTE.ST - news) : Reuters has not verified this story and does not vouch for its accuracy. (Reporting by Moscow newsroom, editing by David Evans)