en.Wedoany.com Reported - Arman Kashenov, Vice Minister of National Economy of Kazakhstan, stated that the investment required for promising projects in the country's copper and aluminum processing sector is approximately $1 billion to $1.2 billion. He specifically noted that the investment potential in the copper sector could exceed $5 billion to $6 billion.

Speaking in the Senate of Parliament, Kashenov emphasized that within Kazakhstan's metallurgical industry, copper ranks second only to gold in terms of importance and added value. However, currently, up to 97% of the mined metal is exported abroad in unprocessed or primarily processed forms.

The Vice Minister pointed out new directions for future production, including the manufacturing of ultra-thin copper foil for batteries and electric vehicles.

According to the economic department representative, the country could build at least one large, modern copper smelter. Such an enterprise could be constructed by Kazakhstani companies independently or jointly with reputable foreign partners.

The processing situation for bauxite and alumina is equally noteworthy. Currently, the country uses raw materials to produce alumina, of which only one-third is processed into primary aluminum at the ERG plant in Pavlodar. The plant is operating at full capacity, yet Kazakhstan still exports two-thirds of its alumina.

The Vice Minister of National Economy believes the country has the capacity to expand the scale of domestic processing of alumina into aluminum, which would create opportunities for producing a variety of aluminum products, from wire rods and cables to rolled products and other goods. The Vice Minister estimates that investment in such production would exceed $5 billion to $6 billion.

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