Kaz Minerals has started negotiations with the government of Kazakhstan as to getting license to construct the second stage of the mining and processing works at the Aktogay deposits and intends to obtain all the necessary documents by year-end.
The second stage of Aktogay – the Aktogay II – was approved in December 2017. Investments will total $1.2 billion. The expansion will double sulfide ore processing of Kaz Minerals from 25 million tons to 50 million tons per year. Annual copper production from sulfide ore will grow by 80 thousand tons, to 170 thousand tons from 2022 till 2027.
Aktogay mineral reserves are estimated at 1.7 billion tons, the total amount of copper in ore is 5.8 million tons.
The construction of the Aktogay GOK was completed in late 2016. This year it is expected to reach full capacity (processing 25 million tons of ore and producing 90 thousand tons of copper). (Ukrainian metal)