The Group has recently acquired Baimskaya, a major greenfield asset in Russia which it intends to develop into a large scale, open pit copper mine by 2026.
In Kazakhstan the Group operates the Bozshakol and Aktogay mines and concentrators, as well as three underground mines and associated concentrators in the East Region, employing approximately 14,000 staff. In 2018 the Group exported 106 kt of copper cathode from Kazakhstan to customers in both Asia and Europe (2017: 112 kt) and 190 kt of copper in concentrate mainly to China (2017: 144 kt). As a result of its economic activities, the Group generated revenues of $2,162 million in 2018 and made a total tax contribution of $368 million in Kazakhstan, including $199 million of MET and $92 million of corporate income and withholding taxes.
The Group employs approximately 1,000 staff in Kyrgyzstan where it operates the Bozymchak copper-gold mine, contributing $13 million in taxes paid in 2018.
From 2011 to date the Group has invested a total of approximately $4.2 billion in the construction of mining facilities at Bozshakol and Aktogay. In addition to their financial contribution, these new mines created employment for over 3,000 operational staff who received extensive training in the use of modern equipment and production techniques. In 2018 the Group commenced work on the construction of a second concentrator at Aktogay which will double sulphide ore processing capacity for a total investment of $1.2 billion, of which $204 million was spent in 2018.