The delivery and ramp-up of our major growth projects is our most important strategic objective.
KAZ Minerals is entering a new phase of development, with Bozshakol and Aktogay at the core of our long-term growth. Both mines are long-life, low-cost copper projects which are expected to deliver substantial growth and value for our business. Both mines are now operational and as they ramp-up they will enable the Group to increase its production to approximately 300kt in 2018. Ramping up these new mines is expected to lead to a significant increase in the Group's profitability and efficiency.
Major Growth Projects
Bozshakol and Aktogay:
- were the largest green-field development projects in Kazakhstan when under construction and are among the largest newly developed copper deposits in the world
- are close to existing power, transportation, water and other infrastructure
- have competitive operating cost profiles
- benefit from similar design and engineering features such as the main sulphide ore concentrators, mining equipment and layout, allowing for significant efficiencies
Koksay is our third growth project opportunity, to be developed once Bozshakol and Aktogay have been ramped up.
The Group's second major copper growth project is Aktogay. The Aktogay copper ore deposit which is located in the east of Kazakhstan is being developed as an open-pit mine including an on-site concentrator. Production from oxide ore commenced in December 2015. The development of Aktogay's sulphide resource will benefit from the work conducted on the Bozshakol project due to the similarities between these two large scale, relatively low grade, open-pit mines. Read more.
We acquired the Koksay deposit in April 2014 for $260 million. The deposit is in south eastern Kazakhstan around 234 kilometres from Almaty and is located close to existing infrastructure. Read more.