Kazakhmys
| Company type | Limited liability partnership |
|---|---|
| Industry | Mining, non-ferrous metal production, electricity generation |
| Founded | August 1997 |
| Headquarters | Kazakhstan |
Area served | Worldwide |
Key people | Vladimir Kim (70% owner), Eduard Ogay (30% owner) |
| Products | Copper concentrate, rough copper, cathode copper, silver, electricity |
Kazakhmys Group functions as a vertically integrated holding enterprise specializing in mining and non-ferrous metal production. Initially formed as a joint-stock company in August 1997, it transitioned to a limited liability partnership status in January 2005.
In October 2014, the former Kazakhmys PLC divided into two entities: the private Kazakhmys Corporation LLP, which owns the Zhomart Mine, and the publicly traded KAZ Minerals Plc. Vladimir Kim retained controlling interests in both organizations.
Owners and management
The Group is ultimately controlled by Vladimir Kim, who possesses a 70% stake. The other 30% is held by Eduard Ogay, with both individuals being citizens of Kazakhstan.
Activity
Kazakhmys holds the 20th position worldwide in copper concentrate output, producing 271 thousand tons, and ranks 12th globally for rough and cathode copper production, with volumes of 377 and 365 thousand tons respectively.
In 2020, the Group contributed significantly to Kazakhstan’s global ranking of 11th in silver production, delivering 279 tons, which represented 51% of the nation's total silver output.
Additionally, Kazakhmys is the third-largest electricity producer in Kazakhstan, generating 7,267.53 million kWh during the same year.
Assets
The Group manages a portfolio of 13 mining operations—comprising 10 underground and 3 open-pit mines—alongside six processing facilities and two copper smelters located in Zhezkazgan and Balkhash, with one smelter undergoing renovation. Its energy assets include three power plants (GRES Topar LLP, Zhezkazgan, and Balkhash thermal) as well as a coal mine operated through Kazakhmys Coal LLP.
Performance indicators
In 2020, Kazakhmys Group surpassed its ore extraction goal by achieving 100.76% of the planned target with a total mined volume of 28.7 million tons. The average copper content reached 1%, exceeding the forecasted grade of 0.94%. Processing plants treated 31.3 million tons of ore during that year.
History
Balkhashmet was established in April 1931; copper smelting activities began in Balkhash in 1938, followed by the commencement of operations at the BMZ plant in Zhezkazgan in 1943. The Spassky Joint Stock Company, founded in Zhezkazgan in 1913 by English entrepreneur Leslie Urquhart, was nationalized subsequent to the October Revolution of the 1920s.