Employee at the smelter at the Zhezkazgan Complex

Company overview

Extracting value from natural resources

KAZ Minerals is a high growth copper company focused on large scale, low cost open pit mining in Kazakhstan. The Group is listed in London, Kazakhstan and Hong Kong. Our market capitalisation was £1.65 billion ($2.0 billion) as at 1 January 2017.

We are focused on the mining of copper and the development of new copper mining projects in Kazakhstan. We are one of the largest copper producers in Kazakhstan and one of the largest globally. We also produce significant quantities of zinc, silver and gold as by-products.

Group EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation)

2015 EBITDA (excluding special items) was $202 million.

Copper and other metals

KAZ Minerals operates the Bozshakol mine in Pavlodar, the Aktogay mine and three underground mines in the East Region of Kazakhstan and the Bozymchak open pit mine in Kyrgyzstan, with ore being processed through 5 on-site copper concentrators. We produce zinc, silver and gold as by-products. The East Region and Bozymchak operations are expected to have a gross cash cost of 190-210 USc/lb in 2016. Bozshakol is expected to have a gross cash cost of 140-160 USc/lb in 2016 whilst Aktogay oxide is guided to be between 110-130 USc/lb.


In August 2014 shareholders approved a major restructuring of the Group. All outstanding conditions to the restructuring were satisfied on 31 October 2014 with economic separation effective from 1 August 2014. See our Restructuring section for more details.

Drilling at Zhomart mine at the Zhezkazgan Complex Smelter at the Balkhash Complex