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Kazakhstan's prominent mining and metallurgy corporation, Kazakhmys, has completed a significant restructuring process. This strategic move follows changes in the company's ownership structure and aims to sharpen its focus on its core competencies.

Core Business Focus Maintained

Following the reorganization, Kazakhmys will concentrate its efforts primarily on mining and metallurgy. The updated corporate structure includes over 30 legal entities, encompassing key operational divisions such as Kazakhmys Corporation LLC, Kazakhmys Barlau LLC, Kazakhmys Smelting LLC, and Qazaq Geophysics LLC. The company has also retained important social and infrastructure assets, including the Zhezkazgan-Air airline, the Zhezkazgan Medical Center, and Ulytau University.

Separation of Energy, Coal, and Financial Sectors

A key outcome of this restructuring is the divestment of Kazakhmys's energy, coal, and financial business segments. Entities like Kazakhmys Energy, Kazakhmys Distribution, Kazakhmys Coal, KAZ GREEN ENERGY, the Topar Power Station, and the Zhezkazgan Power Grid Company are now under new ownership. All inquiries and matters related to these previously held assets should now be directed to their respective new owners.

Additionally, the company has relinquished its stakes in insurance and financial ventures, including the Kazakhmys Insurance Company JSC, KM Life insurance company, and the KazBelAZ joint venture.

Ownership Shift and Nurlan Arykbaev's Role

This extensive reorganization coincides with Nurlan Arykbaev's increased control over Kazakhmys. Previously, the corporation was led by Vladimir Kim and Eduard Ogay. In January 2026, it was reported that a Swiss company allocated $1.2 billion to Arykbaev's structures for the acquisition of Kazakhmys assets.

Nurlan Arykbaev has been actively expanding his business influence. He ranked 44th in Forbes magazine's 2025 rankings with an estimated wealth of $228 million. His business portfolio also includes the construction company Qazaq Stroy and a 9.19% stake in Kazakhtelecom.

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