The plant's capacity will be 300,000 tonnes of cathode copper per year, the investment volume is about $1.8 billion, and the first copper cathode is planned to be produced in 2030, Akorda reports.

The essence in brief

• The project is being implemented by KAZ Minerals Group, with the Chinese company NFC as engineering partner.
• Investments amount to about $1.8 billion, and more than 1,000 new jobs will be created.
• The plant will produce 300,000 tonnes of cathode copper per year, as well as gold, silver and sulfuric acid.
• According to Tokayev, after launch Kazakhstan will enter the top ten leading global producers of refined copper.

What will be built

The facility will have a full production cycle - from ore extraction and beneficiation to the output of finished metal. The plant will process its own copper concentrate, that is, beneficiated ore from which metal is smelted. According to Akorda, this will provide a stable raw material base and increase the added value of products created in Kazakhstan.

The main product is cathode copper, that is, refined copper in the form of plates, from which wire, cable and other products are then made. In addition to it, the plant will produce metallic gold, silver and sulfuric acid.

Who and with what money

The project is being implemented by KAZ Minerals Group, with the Chinese company NFC acting as engineering partner. The investment volume is around $1.8 billion, and more than 1,000 new jobs will be created. The first copper cathode is scheduled to be produced in 2030.

Speeches at the ceremony were given by Akim of Abai Region Berik Uali, Chairman of the Board of Directors of KAZ Minerals Oleg Novachuk, and Chairman of the Board of Directors of China Nonferrous Metal Mining Group Wen Gang.

What the president said

Tokayev stated that the capacity of the new enterprise will fully cover the domestic market's demand for copper. He recalled that the country has more than 9,500 deposits, about 160 million tonnes of ore are mined annually, and about 3.5 million tonnes of copper concentrate are produced.

The president set tasks for the company's shareholders: to meet the legitimate social needs of workers, to introduce digital technologies and artificial intelligence, and to ensure high construction quality and compliance with deadlines.

What this means for Kazakhstan

The plant fits into the policy of processing metal within the country. The Ministry of Industry is working on an export duty on copper concentrate to curb the export of raw materials, and mining companies are being recommended to hand over concentrate to Kazakhmys for processing rather than sending it to China. No decision has yet been made on the rate and timing.

There should be more raw material in the coming years: the goal is to double copper ore extraction to 300 million tonnes per year by 2030.

Author's conclusion

The plant should turn the copper that is mined and beneficiated in the country into finished metal, and this is a step toward deeper processing within the country. The stated capacity and place in the global ranking so far remain the project's goals: they depend on whether the plant is built on time and reaches its design capacity after 2030.