Kazakhmys

What Kazakhmys does

Kazakhmys Corporation LLP is a vertically integrated copper mining and metallurgical holding company and the largest copper producer in Kazakhstan. Founded in 1913 and headquartered in Zhezkazgan (Ulytau Region), the company operates the full value chain from open-pit and underground ore extraction through concentration to copper smelting, producing copper concentrate, rough copper, and cathode copper. Core assets include the Zhezkazgan and Balkhash smelters, the Karagaily mining and processing plant, and major deposits such as Bozshakol, Aktogai, Nurkazgan, and the recently restarted Zhomart mine, supported by a captive energy subsidiary (Kazakhmys Energy) operating three power plants. The group employs approximately 38,000 people, extracts roughly 30.2 million tons of ore annually, and produces 271 thousand tons of copper in concentrate, 377 thousand tons of rough copper, and 365 thousand tons of cathode copper, ranking 20th and 12th globally in those categories respectively.

The company generates revenue by selling copper products on a market-price basis to industrial customers (construction, electrical infrastructure, automotive, and renewable energy sectors) and to global commodity traders under long-term offtake agreements and spot sales. Its go-to-market is enterprise B2B: direct relationships with commodity trading houses and industrial manufacturers, supplemented by capital markets activity on the Astana International Exchange. In December 2025, Kazakhmys was sold to new owners led by Nurlan Artykbayev through Qazaq Acquisition Corp, supported by $1.2 billion in financing from Mercuria Energy Group as part of an eight-year partnership; this was followed by a $220 million AIX bond placement and a corporate reorganization of nearly 30 group entities. The company is undergoing a leadership transition and structural consolidation under the new ownership while continuing to operate its existing vertically integrated asset base.

Name

Kazakhmys

Legal name

Kazakhmys Corporation LLP

Website

https://kazakhmys.kz

Company type

Private

Founded year

1913

Operating status

Operating

Headcount range

11–50 employees

Short description

Kazakhmys Corporation LLP is Kazakhstan's largest vertically integrated copper producer, operating mines, concentration plants, and two smelters across Kazakhstan to supply copper concentrate, rough copper, and cathode copper to industrial manufacturers and global commodity traders.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Copper Production and Sales: Kazakhmys generates revenue primarily from mining copper ore, processing it through concentration facilities, and smelting to produce cathode copper and rough copper for sale to industrial customers and commodity traders.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Kazakhmys is a vertically integrated copper mining and metallurgy holding company operating mines, enrichment factories, and smelters in Kazakhstan. Its core output is copper in concentrate, rough copper, and cathode copper, with annual ore extraction of 30.2 million tons and copper concentrate output of 250,600 tons. The company also operates supporting power generation and maintenance subsidiaries that serve its primary mining and metallurgical production.

Product overview

Kazakhmys is a vertically integrated copper mining and metallurgy holding company, Kazakhstan's largest copper producer. The company operates across the entire value chain from ore extraction to finished copper products, encompassing multiple mines (including Zhomart, Bozshakol, Aktogai, Nurkazgan), enrichment factories (Zhezkazgan and Karagaily), two major copper smelters (Balkhash and Zhezkazgan), power generation assets, and supporting operations. The company ranks 20th globally in copper concentrate production and 12th in rough and cathode copper production.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Mining Operations (vertically integrated ore-to-cathode copper) Vertically integrated copper mining and metallurgy producing copper in concentrate, rough copper, and cathode copper across Kazakhstan, encompassing mines, enrichment factories, and smelting facilities. Target customers are industrial manufacturers and commodity traders.
• Zhezkazgan Copper Smelter One of the company's two major copper smelting facilities located in Zhezkazgan, producing coarse copper and cathode copper from mined ore for downstream industrial buyers.
• Balkhash Copper Smelter The Balkhash copper smelting plant, one of Kazakhstan's first non-ferrous metallurgy facilities, processing copper concentrate into anode copper and cathode copper.
• Zhomart Copper Mine Restart Underground copper mine in Kazakhstan that officially resumed operations in June 2025 after comprehensive safety upgrades and infrastructure improvements, with a phased approach to full production capacity expected over 12 or more months.
• Bozshakol Copper Project Large-scale copper mining project and one of the company's major production assets, described as the largest mining project in the post-Soviet area.
• Aktogai Copper Deposit Project Major copper deposit development project that contributed to the company's copper production capacity.
• Kazakhmys Energy (Power Generation) Power generation subsidiary operating Zhezkazgan Heat and Power Plant (ZHTETS), Balkhash Heat and Power Plant (BTETS), and Power Station-2 (GRES-2) to support mining and metallurgical operations.
• Kazakhmys Smelting (Metallurgical Complex) Metallurgical complex encompassing Balkhash Copper Smelter, Zhezkazgan Copper Smelter, Kazkat Plant, Copper and Enamel Plant, and Oxygen Plant, producing cathode copper and related metallurgical products.
• Karagaily Mining and Processing Plant Ore processing facility including Karagaily Enrichment Factory, Akbastau mine, and Kusmuryn mine, processing copper-pyrite and copper-zinc ores.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and supporting.

• Mercuria Energy GroupcoreStrategic or Co-development Partner · 1 February 2026An eight-year partnership agreement between Mercuria Energy Group and Kazakhmys opens new opportunities for cooperation between the international trader and one of the largest copper producers in the region. The partnership is expected to support development initiatives in the copper industry.
• Kazakhstan Ministry of Education and SciencesupportingStrategic or Co-development Partner · 3 December 2025Kazakhstan's Ministry of Education and Science and Kazakhmys corporation signed a memorandum of cooperation to create an academy for training mining and metallurgical industry specialists. The new university in the Ulytau region will start training students in the next academic year.
• JMJ AssociatessupportingTechnology or Integration · 5 November 2025Kazakhmys engaged the American company JMJ Associates to conduct safety audits at its enterprises. The audit aims to identify weaknesses and improve safety measures.
• Kazakhstan GovernmentsupportingStrategic or Co-development PartnerKazakhstan and Afghanistan held the third Kazakhstan–Afghanistan Business Forum in Shymkent to promote trade, industrial cooperation, and humanitarian partnership. Kazakhmys participates in joint projects in mining and manufacturing.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• KAZ Minerals: Created from the 2014 split of Kazakhmys Corporation and now operating the Bozshakol and Aktogai copper mines in Kazakhstan. Directly comparable: shared corporate heritage, identical copper-focused production model, and overlapping Kazakh operating footprint.
• Glencore: Switzerland-based vertically integrated miner and commodity trader, one of the world's largest copper producers (own mines plus extensive offtake trading). Comparable to Kazakhmys on integrated mining-to-metal model, copper weighting and long-term offtake/financing capabilities.
• Codelco: Chilean state-owned copper mining company and the world's largest copper producer, operating multiple large mines including Chuquicamata and El Teniente. Comparable due to scale, cathode copper focus and ranking well above Kazakhmys in global copper output.
• Rio Tinto: Anglo-Australian multinational metals and mining major with significant copper operations (Kennecott, Oyu Tolgoi, Resolution). Comparable to Kazakhmys on global scale, vertically integrated mining/metallurgical capability and copper as a strategic commodity.
• BHP Group: World's largest diversified miner with material copper production (Escondida, Pampa Norte, Olympic Dam, Antapaccay). Comparable to Kazakhmys on diversified mineral portfolio with copper as a key earnings driver and global top-tier output.
• Jiangxi Copper: China's largest integrated copper producer, with mining, smelting and cathode copper operations at scale. Comparable to Kazakhmys on vertically integrated mine-to-cathode model and global top-tier ranking in cathode copper output.
• Anglo American: UK-listed diversified miner with material copper exposure (Los Bronces, Collahuasi, Quellaveco). Comparable to Kazakhmys on diversified mining portfolio with copper as a significant commodity and globally significant production volumes.
• Freeport-McMoRan: One of the world's largest publicly listed copper miners (with gold and molybdenum by-products), producing copper concentrate and cathode at scale. Comparable due to large open-pit copper operations and global top-tier cathode copper output similar to Kazakhmys.
• First Quantum Minerals: Canadian copper-focused miner with major operations in Zambia (Sentinel, Kansanshi), DRC and Panama. Comparable on size, copper-weighted production base and vertically integrated mine-to-concentrate operations similar to Kazakhmys.
• Antofagasta: Chile-based copper mining group operating four large copper mines (Los Pelambres, Centinela, Antucoya, Zaldivar) producing concentrate and cathode. Comparable as a pure-play, mid-to-large-scale copper producer ranked similarly to Kazakhmys in global cathode rankings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@kazakhmys_official
• Facebookfacebook.com/kazakhmyscorporation
• Instagraminstagram.com/kazakhmys.news
• LinkedInlinkedin.com/company/kazakhmyscorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kazakhmys