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KAZ Minerals creates value in partnership with a wide range of stakeholders through the development and operation of large scale, low cost copper mining projects.
Access to the key inputs required for the mining and processing of copper is the source of our competitive advantage and enables us to generate value for our stakeholders.
We have access to 5,283 Mt of measured and indicated mineral resources at our mining assets, with an average copper grade of 0.39%. The ore also contains by-products of gold, silver and zinc.
Our operations in Kazakhstan benefit from competitive power tariffs, enabling us to operate large scale facilities at low cost.
We have access to readily available fresh water from groundwater and surface water sources. Our modern processing facilities are designed to be efficient in their water consumption.
Our operations are connected to existing national rail networks which enable us to deliver our products efficiently to customers in China and Europe.
We employ around 14,000 people across our business. There is a skilled mining workforce in Kazakhstan.
KAZ Minerals has long-term facilities in place and issued a $100 million bond on the Astana International Exchange.
The Group’s net cash cost in 2022 of 95 USc/lb was highly competitive compared with the Group’s pure-play copper peers.
The Group seeks to develop natural resources, focusing on copper assets located in Kazakhstan and Kyrgyzstan.
0.39%Average grade of copper in ore in mineral resources |
5,283 MtMineral resources (measured and indicated) |
The Group operates seven copper concentrators with a total sulphide ore processing capacity of c.85 Mtpa, a 25 Mtpa increase in 2021 as the Aktogay expansion was commissioned. 15 Mt of oxide ore was also placed onto heap leach pads in 2022.
87 MtSulphide ore processed in 2022 (2021: 64 Mt) |
0.51%Copper grade in sulphide ore processed in 2022 (2021: 0.55%) |
380 ktCopper production in 2022 (2021: 299 kt) |
East Region and Bozymchak copper concentrate (and some concentrate from Aktogay and Bozshakol) is toll processed into cathode in Kazakhstan at the Balkhash smelter.
The Group sells finished metals from the Balkhash smelter and copper cathode produced from oxide ore at Aktogay.
Our customers in China and Europe rely on our supplies of metal and concentrate. The copper we produce is used to construct power and transport infrastructure and housing, generate clean energy and manufacture consumer goods.
We prioritise local content where possible and require our suppliers to meet our codes of conduct. Our Suppliers’ Charter sets out the standards that we require of our suppliers.
We are a major economic contributor to Kazakhstan. Our tax contributions support the Kazakhstan Government in providing public services and infrastructure.
We work closely with lenders to finance the construction of value accretive projects.
We invest in our people, helping them to further their careers. Professional development is one of our core corporate values. We are committed to offering equality of opportunity to all, regardless of gender. 21% of our employees are female compared with an average of 18% for our peers.
We create jobs and business opportunities for local communities. We support local and national social projects. We engage with communities close to our operations to minimise harm and to share the benefits of natural resource extraction.
We seek to maximise value for our shareholders over the long term by investing in the construction of large scale, low cost copper mines with long mine lives that will generate value throughout the commodity cycle.
Safety is our highest priority. Our target is to reach Goal Zero, with no safety incidents across our business.
We seek to minimise the impact of our activities on the environment. We report all material impacts in our Sustainability Report.
KAZ Minerals is a responsible operator and we seek to share the benefits of the development of natural resources with local communities.
KAZ Minerals respects the right to freedom of association and we regularly consult with our employees and the trade unions representing them.
We closely monitor the risks associated with our activities.
KAZ Minerals adheres to high standards of corporate governance.