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In October 2014 we completed a major restructuring of the Group which enabled us to focus on low cost, open pit copper mining. In 2023 we produced 403 kt of copper, representing a compound annual growth in copper production of c.19% between 2015 and 2023.
The Group's major operations at Aktogay and Bozshakol have delivered industry leading production growth and transformed KAZ Minerals into a company dominated by world class, open pit copper mines. The Aktogay expansion project to double sulphide processing capacity at the mine was officially opened in October 2021.
The Group's modern operations enable it to be competitively positioned on the global cost curve.
KAZ Minerals is one of Kazakhstan's highest profile and fastest growing companies. With this economic strength comes a corporate responsibility to protect and respect our employees, their families and the local environment. We are committed to our people and the communities and environments in which we operate.
Copper is essential for all modern infrastructure, energy generation and transmission, transportation, communications, industrial machinery and electrical appliances. As a pure-play copper producer with a portfolio of low cost, long life assets and a track record of delivering world class copper projects, KAZ Minerals is well positioned to take advantage of continued growth in the demand for copper.
The Company originally listed in London as Kazakhmys PLC in October 2005. The Group undertook a number of divestments and completed a restructuring in 2014 which transformed it into a high growth copper company focused on large scale, low cost open pit mining in Kazakhstan and Kyrgyzstan. Following completion of the restructuring on 31 October 2014 the Company was renamed KAZ Minerals PLC.
In April 2021, the Group was acquired by Nova Resources BV. In June 2021, KAZ Minerals re-registered as a private company.