Kazakhstan Approves 750 Billion Tenge Copper Smelter Project in Balkhash

Kazakhstan's government has greenlit the construction of a major new copper smelter in Balkhash, a significant industrial development aimed at boosting the nation's resource processing capabilities. The investment agreement, approved by Prime Minister Olzhas Bektenov's administration, designates Qazaq Smelter LLP to build the enterprise in the Karaganda region.

Construction is slated to commence in 2027, with the plant expected to be operational by 2030. The project represents a substantial private investment of 750 billion tenge. Once completed, the smelter will boast an impressive annual production capacity, including 300,000 tons of cathode copper, 10 tons of gold, and 300 tons of silver. It will also produce over 1.5 million tons of sulfuric acid.

The development is projected to create approximately 1,200 permanent jobs. Notably, the government emphasizes that Kazakhstani specialists will constitute 90 percent of the workforce, including management roles, by the plant's launch, with plans to increase this to 95 percent within five years. The investor is also committed to training 50 students from Karaganda region educational institutions.

This new facility is expected to dramatically increase Kazakhstan's copper output, raising it by one and a half times to over 800,000 tons annually. The move is anticipated to boost exports of high value-added copper products from 460,000 to 760,000 tons per year, underscoring the country's strategic focus on enhancing its mining and processing sectors.