Kazakhstan plans to build a new copper smelting plant worth 750 billion tenge. The project by the Kazakhmys corporation was presented to Prime Minister Olzhas Bektenov during his working trip to the Karaganda region. The launch of the enterprise is scheduled for 2030. This was reported by Qazaqyia.kz citing Kursiv Media.
The construction of the plant is envisaged by an investment agreement between the government of Kazakhstan and Qazaq Smelter LLP, which is part of the Kazakhmys structure. The total volume of private investment is estimated at 750 billion tenge.
Production capacity and output
The production capacity of the new enterprise will be 300 thousand tonnes of cathode copper annually. In addition to the main metal, the plant will be able to produce up to 10 tonnes of gold and 1.5 million tonnes of sulfuric acid per year. Construction work is scheduled to begin in 2027. The enterprise is expected to be commissioned in 2030. After the launch of production, 1.2 thousand jobs will be created.
The corporation expects that the implementation of the project will increase the total volume of copper output in Kazakhstan to more than 800 thousand tonnes annually.
Modern technology and environmental impact
The new plant will be equipped with modern smelting units. According to government information, the technologies used will allow up to 98% of copper to be extracted. One of the main advantages of the enterprise should be a reduction in harmful emissions.
"A significant reduction in emissions will be ensured compared to the Balkhash copper smelter: from 60 thousand to 5 thousand tonnes per year," the government statement says.
Balkhash plant and Kazakhmys management
During the trip, Olzhas Bektenov also reviewed the operation of the existing Balkhash copper smelter. The production indicators of the enterprise were reported by Ruslan Oskenali, chairman of the board of Kazakhmys.
The Balkhash plant, owned by Kazakhmys Smelting LLP, has been operating since 1938. It accounts for about 51% of cathode copper production in Kazakhstan.
The corporation allocated 21.8 billion tenge for the modernization of the enterprise. The funds were used, among other things, for major repairs of furnaces and the renewal of other production equipment.
Who will implement the new project
The new investment project will be implemented by Qazaq Smelter LLP. Its head is Zhanibek Baigabelov, who has headed Kazakhmys Smelting LLP since 2023. He previously worked at ERG. Baigabelov also heads the mechanical engineering committee of the regional chamber of entrepreneurs Atameken and the representative office of the Union of Machine Builders of Kazakhstan in the Karaganda region.
The sole founder of Qazaq Smelter is the private company QAC Resources Ltd, established in June 2026. Its owner is Dynastor Group PTE Ltd, registered in Singapore.
Owner of Kazakhmys assets
Recall that on December 31, 2025, the company Qazaq Stroy announced that it had become the owner of the assets of the copper mining company Kazakhmys. Bloomberg estimated the possible value of the deal at $3.85 billion.