The explosion at the Kazzinc plant in Ust-Kamenogorsk on May 5, 2026, which killed two people, has again drawn attention to the company’s environmental and operational challenges. Kazakh analyst Rassul Rysmambetov, in comments to Kursiv.media, discussed the potential sale of Kazzinc to businessman Shakhmurat Mutalip (on photo) — and why, in his view, the country should be cautious about allowing foreign investor Glencore to exit.
Ownership structure and potential sale
Glencore has been Kazzinc’s largest shareholder since 1997 and currently owns 70.2% of the company. Another 29.8% is held by Tau-Ken Samruk...