Kazakhstan launches $1.8B copper smelter project in Aktogay

Photo: Akorda

BAKU, Azerbaijan, October 20. Kazakh President Kassym-Jomart Tokayev has launched a $1.8 billion copper smelter project in Aktogay, Abai region, according to the Kazakh presidential press service.

Addressing participants in the ceremony via video link, Tokayev described the project as one of the major industrial initiatives expected to give fresh impetus to Kazakhstan's economic development.

The plant, being developed by KAZ Minerals Group with China's NFC as engineering partner, will have an annual capacity of 300,000 tons of cathode copper. The first copper cathode is scheduled to be produced in 2030, and the project is expected to create more than 1,000 jobs.

"Today we are embarking on another major industrial project. This important event will provide additional impetus to the development of our economy. The new enterprise will have a capacity of 300,000 tons of cathode copper per year. This will fully meet the needs of the domestic market," Tokayev said.

He said that once the plant is commissioned, Kazakhstan would enter the world's top 10 producers of high-quality refined copper. The facility will also produce metallic gold, silver, sulfuric acid and other by-products.

Tokayev said Kazakhstan, which has substantial mineral reserves, should make efficient use of its natural resources. The country has more than 9,500 deposits, while about 160 million tons of ore are mined and around 3.5 million tons of copper concentrate are produced annually, he said.

The president also noted growth in the country's manufacturing sector. Output reached $60 billion last year, while 540 industrial projects were implemented across Kazakhstan over the past three years, creating around 50,000 permanent jobs, according to his remarks.

Tokayev called for wider adoption of digital technologies and artificial intelligence in industry, saying advanced solutions can increase productivity, improve workplace safety and help prevent industrial accidents.

The project envisages a production chain from ore mining and processing to finished metal production. The complex will process its own copper concentrate, supporting the stability of its raw material supply and increasing the value added to products manufactured in Kazakhstan.