Russian Copper Company To Invest $1 Billion in Kazakhtan Factory

According to regional governor Nurlan Urankhaev, the corporation would be given the permission to develop the Aidarly copper deposit in the Abay region.

In a meeting in Yekaterinburg, Russia, in July of last year, RCC President Vsevolod Levin and Prime Minister of Kazakhstan Alikhan Smailov discussed the proposal. In addition to plans for the development of projects at the Koksay field in the Zhetysu region and Aidarly in the Abay region, Levin discussed the production operations of its in the Aktobe region.

Smailov believes that the growth of the Koksay and Aidarly fields is crucial for Kazakhstan.

About 85,000 tonnes of copper are produced annually at the Koksay copper deposit. It was formerly developed by KAZ Minerals, whose shares Kazakh oligarch Vladimir Kim acquired in 2021. He holds a 70% share in Kazakhmys Corporation, widely regarded as Kazakhstan’s top copper miner.

By Kazakhmys, the Aidarly copper deposit is being developed.

The Russian Copper Company boosted copper output in 2021 by 28% on-year to 386,000 t.

In January of last year, the RCC subsidiary Mikheevsky Mining and Processing Plant, which is located in the Russian area of Chelyabinsk, finished exploring two additional subsoil plots called Zapadny and Nikolaevsky.

The company’s total ore reserves climbed by 60% to 880 million t as a result, including a 44% increase in copper reserves to 2.84 million t.

The active phase of the development of the additional sites will not begin before 2024, and their reserves have been recorded on the state balance sheet.