Social projects and local procurement
KAZ Minerals is committed to supporting social projects in its countries of operation and in 2022 the Group invested $42 million into such projects.
The Group has a social investment policy which sets out its aims and objectives. The types of projects the Group seeks to support are: (i) projects local to the Group’s operations in the areas of healthcare, education, infrastructure, culture and sport; (ii) national projects in the Group’s countries of operation also in the areas of healthcare, education, infrastructure, culture and sport; and (iii) projects to promote the culture and economic profile of the Group’s countries of operation.
During 2022, the Group funded projects to carry out repairs and improvement works at sports training centres, provided funding for repairs of a fire station and funding for healthcare institutions near the Group’s assets, as well as providing an investment of $39 million to the Kazakhstan Halkyna social fund, a high profile national fund which supports a range of projects nationally with a focus on the socially disadvantaged.
The Group prioritises local procurement to assist diverse economic growth within Kazakhstan. In the East Region, local procurement was 60% of total spend (2021: 67%). The level of procurement from outside Kazakhstan at Aktogay and Bozshakol in 2022 was 63% and 57% respectively. This is because these mines employ modern technology that is often only possible to source internationally.