Turbine in repair in the turbine hall at Ekibastuz Power Station

History

December 2016 - Aktogay sulphide concentrator commences commissioning

Testing and commissioning of the main sulphide concentrator at Aktogay commenced on 6 December 2016. Production of saleable copper concentrate from sulphide ore is expected by the end of the first quarter of 2017. The Aktogay project budget was reduced by $200 million in 2016 and is now expected to be $2,100 million.

February 2016 - Bozshakol production commences

The Bozshakol project commenced production of copper concentrate from sulphide ore in February 2016.

1 December 2015 - Aktogay production from oxide ore commences

The Aktogay project commenced production of copper cathode from oxide ore on 1 December 2015.

31 October 2014 – Group Restructuring completed

Following the completion of a major restructuring including the disposal of mining, smelting and power assets in the Zhezkazgan and Central Regions, the Group becomes a high growth copper company focused on large scale, low cost open pit mining in Kazakhstan. The company is renamed ‘KAZ Minerals PLC’.

15 August 2014 - Group Restructuring approved by shareholders

On 15 August 2014 our independent shareholders approved a major restructuring of the Group whereby Kazakhmys PLC disposed of a number of mature assets primarily in the Zhezkazgan and Central Regions to Cuprum Holding, a company whose principal shareholder is Vladimir Kim. On completion Kazakhmys PLC is to be renamed KAZ Minerals PLC.

7 January 2014 - Focused copper mining company

The Group approves the disposal of its 50% stake in the Ekibastuz GRES-1 power station, to become a focused, pure-play copper mining company.

11 November 2013 - Disposal of ENRC stake

The Company announces the sale of its stake in ENRC. Following the transaction, which included the offer of certain Kazakhmys shares to ENRC shareholders, Kazakhmys becomes a majority free float company for the first time.

February 2010 - Strengthening balance sheet

The company completes the sale of a 50% stake in its Ekibastuz GRES-1 power plant to the National Welfare Fund Samruk-Kazyna JSC for $681 million. This was originally set out at the time of purchase in May 2008.

January 2010 - Funding for Growth Projects

Kazakhmys announces the first of two facilities, totalling $4.2 billion, from the China Development Bank Corporation, to support growth projects.

October 2005 - Listing on the London Stock Exchange

Kazakhmys is listed on the London Stock Exchange at 540 pence per share, joining the broad range of international mining companies listed in London.

June 1995 - A change of ownership

Samsung Corporation of Korea takes over management of the company. In 1996, Samsung acquires a 40% stake.

1992 - The company is officially formed

The Government of Kazakhstan forms the company, entitled OJSC Zhezgazgantsvetmet. From 1992 to 2002, a series of privatisations reduce the Government's holding from 100% to 0%.

1971 - New operations begin

Smelting operations commence at the Zhezkazgan Complex.

1930 - The birth of a leading natural resources group

Kazakhmys' operations begin at the Balkhash copper smelting complex in Kazakhstan.