Titanium Plant Sends Profits Abroad Weeks After Smog Incident

JSC Ust-Kamenogorsk Titanium and Magnesium Plant has announced a dividend payout to its foreign shareholders, Orda.kz reports.

The announcement comes just months after the facility drew public attention for an emissions incident that blanketed the city in thick yellow smog.

According to information published on the Kazakhstan Stock Exchange (KASE), the plant will pay 500 tenge per preferred share, totaling 53.96 million tenge in dividends.

The enterprise is jointly owned by six foreign companies. The largest shareholder is Belgium-based Specialty Metals Holding Company, which holds 44.74% of shares. Other stakeholders include Singaporean firms New Asia Investment Group, Metacapital Investments, Metal Resource & Technology, New Metal Investments, and Switzerland’s Kolur Holding AG.

The plant produces titanium ingots and magnesium, used primarily in the aviation sector and other industries.

In May 2025, the facility made headlines when a gas leak incident led to a cloud of yellow smoke covering Oskement. Residents reported a strong chlorine smell and throat irritation. At the time, the plant denied exceeding chlorine concentration limits and initially refused entry to environmental inspectors.

A later inspection revealed a malfunction in the gas cleaning system during preventive maintenance on a gas duct, which caused the release. The plant was fined 24 million tenge for environmental violations.

Original Author: Nikita Drobny