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"Kazakhmys" will invest 1.5 bln. USD in modernization

28 April 2015

In 2014, the copper company «Kazakhmys» Corporation separated from KAZ Minerals, received the ownership of assets developed Balkhash, Karaganda and Zhezkazgan sites. Now the management of the company is going to develop its own production. A basic step — investing in the improvement and expansion. Planned investments until 2020 should reach 1.5 bln. USD. Information was provided by the General Director of «Kazakhmys» Bakhtiyar Krykpyshevym. At the same time sources of funding are not called. Provided funds CEO plans to invest in the construction of new and expansion of existing facilities. It will also decide whether to upgrade the equipment. In particular, it provides for the modernization of the Zhezkazgan smelter. The company was transferred from KAZ Minerals «Kazakhmys» in the framework of the restructuring. Under the agreement, «Kazakhmys» will continue to provide services KAZ Minerals processing and smelting of copper on the market conditions.

In projects as the development of the mines' Kusmurin «and» Zhylandy «, located in the East Kazakhstan and Karaganda regions. This also includes the construction of the 2nd stage of the mine «Zhomart». Construction work on these facilities will be completed next year. Then companies will begin testing processes at the pilot plant hydrometallurgical processing of copper concentrate. In the future, such measures will help to work out the raw materials with low copper content.

This year, the modernization program will cost «Kazakhmys» in 55 billion. Tenge. Investments will be focused on the transformation of the production and development of raw material base. Planned repairs of buildings and technical equipment at the Balkhash smelter. Additional costs are provided on geological and exploration work, support for existing units and their modernization. Such measures are necessary to the security of the organization of work processes and maximum efficiency. Another item of expenditure is intended to improve the implementation of modern technologies and systems. The low cost of copper with no significant impact on the investment program. Adjustments have already developed programs of their implementation is inevitable. However, this does not deprive them of funding — the funds will be invested in projects as needed.

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