Agreement for construction of $1.5bn copper smelter signed in Kazakhstan Government
Prime Minister of the Republic of Kazakhstan Olzhas Bektenov and Chairman of the Board of Directors of China Nonferrous Metal Mining Co. Ltd. Xi Zhengping discussed cooperation in the copper industry.
The result of the meeting was the signing in the presence of the Prime Minister of Kazakhstan Olzhas Bektenov agreement on the construction of a smelter with a capacity of 300 thousand tonnes of copper per year. The agreement was signed between KAZ Minerals Smelting LLP, which acts as the customer, China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. (NFC) as the supplier of design services and procurement of process equipment, and NFC Kazakhstan LLP as the construction and commissioning contractor.
The plant will be built near the village of Aktogay in the Abay region. The source of raw materials will be copper concentrate from Bozshakol and Aktogay mining and processing plants of Vostoktsvetmet LLP. The construction of the plant will create a cluster combining one of the world's largest copper mines and a modern copper smelting facility. The project, with a preliminary cost of $1.5bn, will create over 1,000 new jobs. It is scheduled to be commissioned by the end of 2028.
The high-tech enterprise will be the largest in the country for the production of high-value-added products. The applied technologies in the field of copper smelting correspond to the world environmental standards.
The enterprise will meet the domestic market demand for processing of copper-containing raw materials and copper cathode. It should be noted that cathode copper is widely used in the power industry, machine building and other industrial sectors. In addition, the new plant plans to produce refined gold, silver and sulphuric acid.
"The Head of State has set the task of sustainable economic growth. The construction of the new copper smelter is a major industrial project that will increase the processing of copper raw materials mined in the country and will make a great contribution to the economy of our country. Copper industry is one of the priority sectors of our industry and its dynamic development is very important for us," Olzhas Bektenov emphasised.
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