The company said that further negotiations will be undertaken to move the MoU to a full loan agreement by the end of this year.
This loan will be in addition to the existing CDB loan facility of $2.7bn, which is being used for the development of a major copper project at Bozshakol and a series of mid-sized projects.
Kazakhmys chief executive Oleg Novachuk said this funding will allow the company to develop the Aktogay project and yet retain full ownership of the asset.
Kazakhmys is an international natural resources group with significant interests in copper, gold, zinc, silver, power generation and petroleum.
