The government of Kazakhstan has approved the construction of a new copper smelter in the city of Balkhash, attracting private investments worth 750 billion tenge. Prime Minister Olzhas Bektenov signed the corresponding resolution, fulfilling a directive from the head of state, according to the website infohub.kz.
The project is being implemented by Qazaq Smelter LLP. Construction is set to begin in 2027, with commissioning scheduled for 2030. The plant will provide permanent employment for about 1,200 people. At launch, 90% of the staff will be Kazakh specialists, and within five years, this share will increase to 95%. The investor has also committed to funding the training of 50 students at educational institutions in the Karaganda region.
The launch of the facility will increase Kazakhstan’s total copper production by 1.5 times, from current levels to over 800,000 tons per year. The plant’s annual design capacity includes: cathode copper – 300,000 tons, gold – 10 tons, silver – 300 tons, and sulfuric acid – over 1.5 million tons. Exports of finished products with high added value will rise from 460,000 to 760,000 tons.
Earlier, Kursiv reported that Kazakhmys plans to modernize the Balkhash Copper Smelter in cooperation with China.