Kazakhstan’s largest gold producer, Kazzinc, 70.2% of which is owned by Switzerland-based Glencore, reduced zinc production from its own sources to 61,800 tons in the first six months of 2025, down 3% year-on-year (YoY), according to Glencore’s report.
Meanwhile, zinc in concentrate production rose by 13% to 37,200 tons, while copper fell by 14% to 7,700 tons. Gold output declined by 7% to 281,000 ounces and silver increased by 6% to 1.647 million ounces.
Across the group, total production from own sources amounted to 343,900 tons of copper (down 26% YoY), 18,900 tons of cobalt (up 19% YoY), 465,200 tons of zinc (up 12% YoY), 36,600 tons of nickel (down 17% YoY) and 301,000 ounces of gold (down 18% YoY).
Glencore’s earnings before interest, taxes, depreciation and amortization (EBITDA) from January to June fell 14% to $5.43 billion, amid lower coal prices, reduced copper production, declining copper grades at the Maleevsky mine in Kazakhstan and operational challenges at several mines. The Swiss trader also cited logistics difficulties.
Kazzinc, headquartered in Ust-Kamenogorsk, is one of Kazakhstan’s largest nonferrous metal producers. The company carries out a full production cycle for zinc, lead, copper, gold and silver — from ore extraction to refined metal output.
The enterprise comprises five plants. The main shareholder of the company is Glencore, with a 70.2% stake. The remaining 29.8% belongs to the national company Tau-Ken Samruk, a subsidiary of Samruk-Kazyna.
