An analysis of financial statements from Kazakhstan’s 10 largest mining companies shows that last year was exceptionally strong for the industry. Total revenue rose 16%, while net profit surged 85%. All major indicators — including production, capital investment and exports — showed solid growth.
Production, investment and exports in 2024
The value of mining output climbed to 15.5 trillion tenge (about $33 billion). In real terms, the sector expanded 8.9%, according to GDP deflator calculations—well above the overall national economic growth rate of 6.3%. The rebound marks a clear recovery after two years of decline. In 2022, mining...