The output of Kazakhstan's metallurgical industry exceeded $4.5 billion by the end of the first quarter of 2024, a growth of 4.3%. The bulk of production came from precious and non-ferrous metals at $3.15 billion, while ferrous steel metallurgy accounted for $1.35 billion and metal casting for $17.77 million.
During the first period of 2024, the production of 943,100 tonnes of crude steel, 717,900 tonnes of pig iron and 523,800 tonnes of ferroalloys were produced.
Overall, the growth in industrial production in Kazakhstan was 3.8 %, while the mining sector grew by 1.9 % and the manufacturing sector by 5.8 %.
Capital investment in metal ore mining totalled $400.83 million, representing 22.3% of all investment in the mining sector and 13.5% of total investment in the manufacturing sector.
Minister of Industry and Construction Kanat Sharlapayev noted that Kazakhstan is actively developing its metallurgical industry and mentioned 15 major projects. Among these projects is the production of hot briquette iron with an investment of 1.9 billion dollars. The JSC Sokolovsko-Sarbaisko mining and processing production (as part of Eurasian Resources Group) project has a capacity of 2 million tonnes and will provide advanced processing of iron ore raw materials and supply materials to steel plants.
It is also planned to build a Kazakhstal electrometallurgical plant with a capacity of 1.2 million tonnes, employing 1,045 people and investing $588 million. About 80% of the plant's output will be destined for the domestic market, including railway engineering. The project is estimated to increase Kazakhstan's steel production by 25%, from 4.2 million tonnes to 5.4 million tonnes.
Work is currently underway to prepare the site, including pouring the foundations for Mineral Product International's 160,000 tonnes per annum ferrosilicon plant. The plant also plans to produce 300,000 tonnes of direct reduced iron and 1 million tonnes of steel per year.
Comments
No comment yet.