Astana, Kazakhstan, April 10
By Daniyar Mukhtarov - Trend:
The largest copper producer in Kazakhstan - PLC Kazakhmys Corporation plans to increase production volume by 40 percent in the next five years, the Board Chairman of the company, Edward Ohio said.
"We will increase production volume by more than 40 percent in the next five years. We must increase the production volume from the current 37 million tons to 100 million tons of ore, and in the volume of metal - at the level of 40 percent," he said at the briefing within the framework of the V economic forum held in Astana on April 10.
"An Interesting market appeared in countries such as Saudi Arabia, Bahrain, United Arab Emirates, and Iran. Very attractive offers started coming from there," Ohio said.
The PLC board chairman noted that the corporation will remain faithful to its traditional markets.
The main product of Kazakhmys Corporation PLC is a copper cathode. The company produces about 400,000 tons of copper per year, which allows it to enter the top ten so-called "copper" companies of the world. Today Kazakhmys Corporation is the only organization in Kazakhstan, operating in the producing, processing and production of copper.
Production volumes of Kazakhmys Corporation PLC allow it to fully meet the needs of the domestic market. However, today there are no major consumers in Kazakhstan who can absorb the entire amount of produced copper , zinc concentrate and other products. Therefore, the company has primarily focused on the external market. For example, 100 percent of copper cathode, 99.99 percent copper rod , 80 percent of zinc are shipped for export. Main consumers of the production are : Copper Cathode - European countries (except Greece) - 39 per cent , Turkey - 22 per cent , Saudi Arabia - 13 percent, China - 7 percent , South Korea - 6 percent ; precious metals - SAMSUNG group companies (Republic of Korea Seoul) , Marc Rich (Zug, Switzerland) , Kazakh banks; lead dust - ASPMK company -19 percent (Kazakhstan).
Translated by S.I.
Edited by C.N.