UPDATE 3-Kazakhmys says Kazakh govt wants to take a stake

(Adds analyst comment)

LONDON, March 25 (Reuters) - Kazakh copper producer Kazakhmys Plc (KAZ.L) said on Tuesday it welcomed a recent statement by the government of Kazakhstan that it wished to acquire a minority interest of up to 15 percent in the company.

Kazakhmys, which rival Eurasian Natural Resources (ENRC.L) earlier this month said it might be interested in buying, said in a statement it has been in preliminary talks with the government on a variety of options.

These options included the potential for the company to acquire natural resource assets in Kazakhstan in exchange for the government acquiring a minority stake in Kazakhmys.

"Should these discussions lead to an agreement being reached, then a further announcement will be made and, as appropriate, Kazakhmys shareholder approval will be sought," it added.

The move by the government is part of an effort to create a national mining company, beginning by holding stakes in major firms operating in the country, an analyst in Kazakhstan said.

The government already owns 19.3 percent of ENRC, a company that had revenue of $3.3 billion in 2006, accounting for about 4 percent of the nation's GDP.

"In February, President Nursultan Nazarbayev ordered the government to become a player in the mining sector and manage the shares of the mining companies operating in Kazakhstan," analyst Leila Kulbayeva of Visor Capital in Almaty said in a research note.

Legislation was passed on March 3 that ordered the finance ministry to buy up to 15 percent of Kazakhmys, the analyst said.

Prime Minister Karim Masimov recently announced the creation of a state-owned mining firm, Kulbayeva added.

The state mining group was also expected to acquire a stake in the local unit of the world's largest steel maker, Arcelor Mittal (MT.N) (ISPA.AS), the research note added, giving no details.

Shares of Kazakhmys closed 7.5 percent higher at 1,542 pence, valuing the company at around 7 billion pounds ($14 billion).

Kazakhmys, the world's 10th-biggest copper producer, is owned 45.8 percent by Chairman Vladimir Kim, while Chief Executive Oleg Novachuk has a 7.7 percent stake.

ENRC -- the world's biggest producer of ferrochrome and the sixth-largest iron ore exporter by volume -- said earlier this month that it had held talks with Kazakhmys as it explored strategic opportunities following ENRC's London flotation in December.

An analyst said at the time that a move to combine the firms made sense due to the fragmented nature of the Kazakh mining sector. But the analyst said speculation earlier this year was that Kazakhmys would be the suitor after it took a 14.6 percent stake in ENRC.

Three founders of ENRC collectively own 43.8 percent of the firm, which employs around 62,000 people. (Reporting by Mike Elliott; Additional reporting by Eric Onstad; Editing by David Holmes and John Wallace)