Type Private Company Website www.mykazakhmys.kz Founded 1992 Revenue 3.099 billion USD (2013) Parent organization KAZ Minerals | Industry Mining Founder Vladimir Kim Headquarters London, United Kingdom | |
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Key people Vladimir Kim, President
Eduard Ogay, CEO Products Copper, zinc, silver, gold Net income $(2,032) million (2013) CEO Oleg Novachuk (15 Mar 2007–) | ||
Kazakhmys to wait for stable market before h k listing
Kazakhmys Corporation was a UK-registered copper mining company (as Kazakhmys PLC) whose main assets are located in Kazakhstan. Its headquarters are in Almaty and Astana in Kazakhstan. After 31 October 2014 the company is privately run by its owner Cuprum Holding. The headquarters of its main subsidiary, Kazakhmys Corporation, are located in Astana, Kazakhstan. Before October 2014 it was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index, also it was secondarily listed in Hong Kong in June 2011.
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In February 2014 the company announced plans for major restructuring, and on 15 August 2014 independent shareholders of Kazakhmys PLC approved a major restructuring of the Group whereby Kazakhmys PLC disposed of a number of mature assets primarily in the Zhezkazgan and Central Regions to Cuprum Holding, a company whose principal shareholder is Vladimir Kim. The assets will be privately run under the name Kazakhmys Corporation with Eduard Ogay as a CEO. The restructuring was complete on 31 October 2014 and the Group de-merged into 2 separate independent companies: a private company Kazakhmys Corporation and a public company KAZ Minerals PLC.
History
The company's origins date back to 1930 when operations began at the Balkhash copper smelting complex in Kazakhstan. The company operates 16 open pit and underground mines along with two smelting and refining plants in the Republic of Kazakhstan. The holding company of Kazakhmys group, Kazakhmys PLC, was first listed on the London Stock Exchange in October 2005.
In August 2015 the Group's independent shareholders voted to approve the major restructuring as a result of which the Group de-merged into 2 separate independent companies: private company Kazakhmys Corporation with assets in Zhezkazgan and Balkhash regions run by Cuprum Holding, a company whose principal shareholder is Vladimir Kim, the CEO of Kazakhmys Corporation is Eduard Ogay; and a public company KAZ Minerals PLC.
Operations
Kazakhmys is the largest copper producer in Kazakhstan and one of the top worldwide with 16 operating mines, 8 concentrators and a copper smelter. Kazakhmys Mining’s operations are fully integrated from mining ore through to the production of finished copper cathode and rod. Total copper cathode equivalent output from own ore was 294 kt in 2013. Production is backed by a captive power supply and significant rail infrastructure.
Kazakhmys Mining produces significant volumes of other metals, including zinc, silver and gold. In 2013, it produced 134 kt of zinc in concentrate. The group is amongst the largest global silver producers with output of 14 Moz in 2013.
Kazakhmys Power operates the captive power stations which supply electricity to Kazakhmys Mining and third parties. In 2013, net power generated by captive power stations was 5,723 GWh.