2014 – GROUP`S SEPARATION
The restructuring was complete on 31 October 2014, after approval of shareholders and regulatory authorities, and the Group de-merged into 2 companies: a private (non-public) company Kazakhmys Corporation and a public company KAZ Minerals PLC.
A non-public company retained assets in Karaganda Region and Shatyrkul Mine. A public company retained projects in the East Region and the Mine in Kyrgyzstan.
Following the restructuring, both companies operate independently. A number of long-term agreements and service agreements were made between Kazakhstan assets of the parties for transition period to ensure key production, commercial and other processes, such as extraction, primary processing, copper smelting.
2011-2012 – CAPACITY EXPANSION
In 2011 the Board of Directors approved development of the Bozshakol deposit – the largest mining projects on the post-Soviet space – scale-wise and output-wise. The development started in the same year, copper production is expected in 2015. It is also expected to obtain first copper at the second large project Aktogay in the same year, the project started in 2012. Both projects are distinguished by long-term mine life and low-risks, which ensure stable growth and increase the business` value. Placing open pits in operation will result in 60% rise in the Group`s production by 2016, as well as in increase of volume, quality, efficiency and safety.
In 2012 the Unit 8 was launched into service in Ekibastuz GRES-1, as a part of a large investment program, which increased generating capacity of the power station up to 3 000 MW.
2011 – LISTING ON THE HONG KONG STOCK EXCHANGE
Completion of the second listing on the Hong Kong Stock Exchange, as a part of an upcoming Asia penetration strategy.
2010-2011 - FUNDING FOR GROWTH PROJECTS
Kazakhmys signed contracts for credit facilities over $4 billion, from the China Development Bank Corporation and the National Welfare Fund Samruk-Kazyna JSC. The funds are to ensure output expansion, in particular to support growth projects – Bozshakol and Aktogay.
2008 – ASSETS DIVERSIFICATION
Ekibastuz GRES-1, the largest power station in Kazakhstan was acquired by Kazakhmys. Through the investment program, totaling $1billion, the power station is able to double its capacity in the next five years. In 2011 the Company sold a 50% stake in the power station to the National Welfare Fund Samruk-Kazyna. The decision was made during the acquisition of the power station in May 2008.
The Company has also acquired an additional shareholding from Eurasian Natural Resources PLC (ENRC PLC) increasing its shareholding to 26%.
2006 – BEGINNING OF KAZAKHMYS SHARE TRADING IN KAZAKHSTAN
Being committed to economic development of Kazakhstan, Kazakhmys started share trading on the Kazakhstan Stock Exchange.
2005 – GOING PUBLIC
In October 2005 Kazakhmys became the first Kazakhstan company, listed on the London Stock Exchange. In December 2005 the Company was included in FTSE 100 index calculation.
1997 – KAZAKHMYS CORPORATION
Establishment of a new company – Kazakhmys corporation. The Company grows, develops mines and facilities, consolidats assets for integrated production creation up to 2005. Kazakhmys becomes a large vertically integrated producer of copper.
1995 - A CHANGE OF OWNERSHIP
Samsung Corporation of Korea takes over management of the Company. Such step was made by the Government in order to attract investors, investments and also considerable experience of the foreigners needed for the facilities, affected by collapse of the USSR. In 1996, Samsung acquires a 40% stake and subsequently sells it.
1992 – THE COMPANY IS OFFICIALLY FORMED
The Government of Kazakhstan forms the company, entitled OJSC Zhezgazgantsvetmet. Later, a series of privatisations made the Company private in order to revitalize capacity, raise profitability and attract investments for production development.
1971 – SMELTING OPERATIONS COMMENSE AT THE ZHEZKAZGAN COMPLEX
First electrolytic copper is produced at PA Zhezgazgantsvetmet.
1938 – OPERATIONS BEGIN AT THE BALKHASH COPPER SMELTING COMPLEX, DEVELOPMENT OF ZHEZKAZGAN AND THE ZHEZKAZGAN COMPLEX
In April 1931 Administration of Tsvetmetzoloto made decision to build a pyrometallurgical plant in Balkhash area. In 1938 first crude copper was produced, the same year anode copper was poured. 19-20 thousand tons of crude copper are being produced at the Balkhash Copper Smelter now. On February 10, 1938 an Order # 50 was issued by People's Commissariat of Heavy Industry, USSR, the order required to start the design of a new plant immediately. It included design and construction of the Zhezkazgan Copper Smelting Complex with new underground mines, concentrators, the city and a copper smelting plant. In1943 the Smelter and five first mines started their operation, the construction was completed in 1958.
1929-1931 –GEOLOGICAL SURVEY IN ZHEZKAZGAN
In 1927 the first publication by K. Satpayev, Karsakpaisky district and its outlook was issued. In the publication the scientist proves significance of geological examination and survey of Zhezkazgan deposit. In 1929 K. Satpayev was authorized with the geological survey. In 1931 the team of geologists under his supervision proved occurrence of significant copper reserves in Zhezkazgan, which far outnumbers the prognosis of the Committee for Geology.
1928 – KARSAKPAISKY COPPER SMELTER COMMISSIONING
First crude copper was produced in Zhezkazgan.
1928 – KONYRAT COPPER DEPOSIT DISCOVERY
Mikhail Petrovich Rusakov, a member of the Academy of Sciences had discovered Konyrat copper deposit, which became the base for the Balkhash Complex.
1913 – FIRST MINING OPERATIONS IN ZHEZKAZGAN
First large-scale mining operations at the Zhezkazgan deposit and copper processing into finished product were done at the Sarysu Concentrator by the Spasskky JSC headed by an Englishman Leslie Urquhart. The facility was nationalized during the 1920s, after the Russian revolution