Copper Project in Qaraganda Moves Forward After Prosecutor’s Intervention

A copper exploration project in Kazakhstan’s Qaraganda region, backed by foreign investors, is set to proceed after the regional prosecutor’s office addressed local bureaucratic delays, Orda.kz reports.

FQM Exploration Kazakhstan LLP, a company established by two major British investors, had planned to begin geological exploration in the Aqtogay district to develop a copper mine and construct a smelter.

Local authorities reportedly stalled the permitting process, hindering the project’s progress.

According to the regional prosecutor’s office, a working meeting with representatives from the local Akimat resulted in direct orders to expedite the documentation process. Following this intervention, the necessary approvals were issued, allowing the company to begin operations as early as June.

FQM Exploration Kazakhstan LLP is registered in Astana and co-founded by FQM Kazakhstan Ltd — an arm of the global copper producer First Quantum Minerals (FQM) — and the British investment firm Skyfall Ltd.

FQM is among the world’s top ten copper producers, operating major projects in countries including Spain, Finland, Australia, Türkiye, Mauritania, Panama, and Zambia. The company employs around 20,000 people globally and is recognized for its leadership in copper concentrate production.

Since its registration in 2023, the Kazakhstan office of FQM has been operating as a micro-enterprise and has contributed nearly 64 million tenge in taxes to the national budget.

Original Author: Nikita Drobny