Kazakhmys

Kazakhmys Corporation was a UK-registered copper mining company (as Kazakhmys PLC; Kazakh: Qazaqmys) 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.[2]

Kazakhmys Corporation
TypePrivate Company
IndustryMining
Founded1992
HeadquartersAlmaty, Kazakhstan
Key people
Vladimir Kim, President
Eduard Ogay, CEO
ProductsCopper, zinc, silver, gold
Revenue$3,099 million (2013)[1]
$166 million (2013)[1]
$(2,032) million (2013)[1]
Number of employees
39,748 (2015) 
Websitewww.mykazakhmys.kz

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.[3][4]

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.[5][6] The holding company of Kazakhmys group, Kazakhmys PLC,[7] 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.[3][4]

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.

Senior management
role
Eduard OgayChief Executive Officer
Vladimir KimPresident

References
  1. Preliminary Results 2013
  2. "Kazakhmys chairman sells shares, company may list in Hong Kong". Archived from the original on 20 July 2011. Retrieved 7 October 2010.
  3. Kazakhmys Group Shareholder Circular 23 July 2014.
  4. Kazakhmys announcement on proposed Group restructuring 23 July 2014, p. 3.
  5. Kazakhmys History
  6. Kazakhmys profile and review
  7. "Kazakhmys PLC". morningstar.co.uk. Retrieved 29 September 2012.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.