PRESIDENTIAL OPENING OF THE AKTOGAY EXPANSION PROJECT
KAZ Minerals Limited (“KAZ Minerals” or “the Group”) announces that the Aktogay expansion project has today been officially opened by the President of the Republic of Kazakhstan. The production of saleable material from the 25 Mtpa concentrator is expected to commence shortly, and the Group expects to begin shipments to customers of copper concentrate from the new plant during the fourth quarter of this year. Despite the challenges presented by the Covid-19 pandemic, the Aktogay expansion has been built on schedule and on budget, continuing the Group’s successful track record of project delivery.
The second concentrator doubles the sulphide ore processing capacity at Aktogay to 50 Mtpa and is expected to increase the Group’s copper production substantially, once it is fully ramped up. The expansion project represents an investment of approximately $1.2 billion and has resulted in a significant increase in the number of people employed at Aktogay.
Oleg Novachuk, Chair of KAZ Minerals, said: “I am delighted that KAZ Minerals has again demonstrated its project delivery capability with the successful construction of the Aktogay expansion. The new concentrator is a valuable addition to the Group’s portfolio, which is dominated by low cost, long life assets.”