Kazakhstan eyes multi-billion-dollar metallurgy projects
According to Vice Minister of National Economy Arman Kassenov, Kazakhstan has the potential to launch a number of projects related to the processing of copper, bauxite, alumina and aluminum worth between $10 billion and $12 billion.
«There are more than 100 leading companies worldwide with deep expertise in the copper sector, and potential projects in Kazakhstan’s copper industry alone are valued at more than $5 billion to $6 billion,» he said during a session of the Senate, the upper house of parliament.
According to Kassenov, copper is the second most important value-added sector in Kazakhstan’s metallurgy industry after gold. However, the country currently exports the vast majority of its copper — around 97% — either unprocessed or minimally processed, he noted.
Kassenov said Kazakhstan could develop projects to produce ultra-thin copper foil for batteries and electric vehicles, among other products.
The vice minister also said the country has the potential to build at least one large modern copper smelter, either independently through domestic companies or in partnership with leading international firms.
In addition, Kassenov noted that Kazakhstan has significant bauxite reserves that are processed into alumina. However, only one-third of this alumina is converted into primary aluminum in Pavlodar, while the rest is exported. He added that ERG’s existing alumina processing plant is operating at full capacity.
To fully develop this potential, the official proposed creating a complete alumina-to-aluminum processing chain in Kazakhstan, along with facilities producing wire, cable, rolled products and other metal goods. According to him, such projects would require investments exceeding $5 billion to $6 billion.
