Two Killed in Explosion at Industrial Plant in Eastern Kazakhstan

Two people were killed and nine injured in an explosion at a facility operated by Kazzinc in Ust-Kamenogorsk, local authorities and emergency services said. The incident occurred at around 8 a.m. on May 5. According to preliminary information, a dust-collection unit malfunctioned in one of the workshops, followed by a fire and the partial collapse of building structures. Emergency crews from the Ministry of Emergency Situations of Kazakhstan were quickly dispatched to the scene, deploying 10 fire units. “Rescuers are clearing debris and extinguishing remaining fire sources until the situation is fully contained. Search operations for victims are ongoing. According to preliminary information, four people are being transported to medical facilities,” the ministry said. Local health authorities later reported that the number of injured had risen to nine. Three remain in serious condition: two have been hospitalized, while one received resuscitation at the scene. “One of the injured was transported to a medical facility by employees of the enterprise,” the Ust-Kamenogorsk health department said. Following the explosion, thick smoke rose above the plant, prompting specialists from the East Kazakhstan regional Department of Ecology to carry out air quality monitoring at the boundary of the sanitary protection zone. “We deployed a mobile laboratory to the sanitary protection zone first. Measurements have already been taken at two points, and we are now moving to a third point in the northwestern direction from the plant, following the wind,” said department head Aset Suleimenov. He added that four to five locations would be tested, primarily along the direction of the smoke plume. Results will be released later. Authorities subsequently confirmed that two people had died in the incident. Prime Minister Olzhas Bektenov said he had taken the situation under personal control. “This morning I issued the necessary instructions regarding the explosion in Ust-Kamenogorsk. The Ministry of Emergency Situations, environmental authorities, and regional administrations must take all necessary measures and report back to me. This issue will remain under my personal control,” he said at a government meeting. The Kazzinc site in Ust-Kamenogorsk is a major metallurgical complex that includes zinc, lead, and copper production, as well as precious metals refining and sulfuric acid production. Ust-Kamenogorsk is considered one of Kazakhstan’s most environmentally affected cities, where the concentration of metallurgical enterprises frequently leads to air pollution levels exceeding permissible limits. Glencore, a multinational commodity trading and mining company, is a major shareholder in Kazzinc, which was established in 1997. The company is a major producer of zinc, as well as lead, copper, and precious metals.

Kazakh Businessmen in Talks to Acquire Stakes in KazZinc and Kazakhmys

Kazakh entrepreneurs Shakhmurat Mutalip and Nurlan Artikbayev are in negotiations to acquire stakes in two of Kazakhstan’s largest industrial giants, KazZinc and Kazakhmys, according to a report by Bloomberg, citing unnamed sources. Bloomberg reports that Mutalip, the owner of construction firm Integra Construction KZ, has been offered the chance to purchase Glencore’s 70% stake in KazZinc. Meanwhile, Artikbayev, the majority shareholder of Qazaq Stroy, is in discussions over acquiring a stake in Kazakhmys. Sources emphasized that the negotiations are still in early stages. No final agreements have been reached, and key terms such as pricing and payment structures remain unresolved. As of the end of 2024, 99.1% of Kazakhmys shares are held by Kazakhmys Copper, through its parent entity Kazakhmys Holding Limited, which is registered with the Astana International Financial Centre (AIFC). KazZinc is majority-owned by Glencore International AG, which controls 69.74% of the shares. The remaining 29.82% is held by the state-owned enterprise Tau-Ken Samruk, with 0.44% owned by minority shareholders. Both businessmen have recently been received by President Kassym-Jomart Tokayev. Artikbayev, ranked 44th on Forbes Kazakhstan’s 2025 list, met with the president on November 4, while Mutalip met with him on November 21. Both meetings focused on the development of Kazakhstan’s construction sector and the role of private business in infrastructure projects. Financial analyst Rasul Rysmambetov suggested that the potential deals reflect an effort to consolidate domestic control over key strategic assets. “This looks like an unfolding of what I call economic nationalism. Local players are expected to control subsoil assets, as they can invest more intensively in downstream processing. Much like Korea’s chaebols, the goal will be to extend the value chain within the country,” he wrote on his Telegram channel.