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Kazakhmys Corporation، a major player in metal production، has withdrawn from the Aidarly Project، marking a significant shift in the project's ownership structure. Previously، the company was associated with millionaire Nurlan Artykbaev.

The latest changes، registered on February 18، see a portion of Aidarly Project's shares now owned by Qaz Copper Group، a company linked to Vladimir Kim and Eduard Ogay. Alongside Qaz Copper Group، Aidarly B.V.، registered in the Netherlands، remains a key shareholder.

Understanding Qaz Copper Group's Role

Qaz Copper Group is a subsidiary of Kazakhmys Copper. It's noteworthy that Kim and Ogay previously held ownership of Kazakhmys Corporation through this very entity، Kazakhmys Copper.

Ownership within Kazakhmys Copper saw a transition last December. KCC Copper Limited، registered in the Astana International Financial Centre (AIFC)، replaced the Netherlands-registered K.C.C. B.V. Currently، this AIFC-based company is controlled by Kazakhmys Holding Limited، which is owned by Kim and Ogay.

Aidarly Project's Financial Performance

In November 2025، Kazakhmys had announced the spin-off of certain assets into a new legal entity، Qaz Copper Group. This new company was intended to house assets not directly involved in core production، alongside rights to mine copper and polymetals at the Sokyrkoy deposit in the Karaganda region.

However، Aidarly Project has faced considerable financial challenges. In 2024، the company incurred a loss of 5.4 billion tenge، following a loss of 4.3 billion tenge in 2023. By the end of 2024، its accumulated deficit reached 9 billion tenge، a substantial increase from 3.6 billion tenge at the end of 2023. Considering its charter capital of 2.9 billion tenge، Aidarly Project's net capital deficit stood at 6.1 billion tenge.

The primary driver for Aidarly Project's losses appears to be its geological exploration activities at the Aidarly deposit in the Abai region، followed by copper ore extraction. The company holds a license for both exploration and production of copper ore.

It is recalled that in late 2025، Vladimir Kim and Eduard Ogay sold Kazakhmys Corporation to Nurlan Artykbaev، the owner of the construction company 'Qazaq Stroy'. The financial terms of this transaction were not publicly disclosed. According to Bloomberg، the financing for this deal، estimated at $1.2 billion، was provided by the Swiss trading firm Mercuria Energy Group.

This information was reported by the Infohub.kz news agency.