KAZ Minerals PLC confirmed Feb. 16 that it is considering the acquisition of the Baimskaya copper-gold project in Russia's Chukotka region.

Responding to speculation on the matter, the Kazakhstan-based miner said that, at this time, there can be no certainty that any transaction will occur. However, KAZ noted that it was assessing a majority stake in the copper-gold porphyry deposit.

The project is held by Russian billionaire Roman Abramovich's Millhouse Capital.