Kazakhstan's mining sector has seen an increase in iron ore production, with a 22% year-on-year (y/y) rise in the first half of 2024. The volume of extracted raw materials reached 28mn tons, SteelRadar reported citing Bureau of National Statistics.
In June 2024, iron ore production totaled 4.96mn tons, marking a 23.3% increase compared to June 2023 and a 0.7% rise from the previous month.
Production of iron ore pellets surged by 63% y/y to 532,700 tons, although it experienced a slight decrease of 1.7% month-on-month. Iron ore concentrate production reached 597,800 tons for the month, showing a decline of 25.2% year-on-year and 15.8% m/m.
For the period of January-May 2024, steel production in Kazakhstan increased by 3.6% y/y to 1.68mn tons, with flat products output rising by 5.8% to 1.08mn tons.
In 2023, Kazakhstan’s steel production had grown by 16.4% y/y to 3.92mn tons, although the production of flat products fell by 3.6% compared to 2022, totaling 2.45mn tons.
Qarmet (formerly ArcelorMittal Temirtau) has announced plans to boost its steel production by 13% in 2024 to 3.3mn tons. Iron ore concentrate production is also expected to rise by 10% to 10mn tons, while coal production is anticipated to decline by 2%.
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