Kazakhstan increased iron ore production by 22% y/y in the first half of the year

During the period, the volume of extracted raw materials reached 28 million tons

Mining companies in Kazakhstan increased iron ore production by 22% in January-June 2024 compared to the same period in 2023, up to 28 million tons. This is evidenced by data from the Bureau of National Statistics, SteelRadar reports.

In June of this year, iron ore production in Kazakhstan amounted to 4.96 million tons, up 23.3% compared to June 2023, and 0.7% compared to the previous month.

In June, production of iron ore pellets increased by 63% compared to June last year, but decreased by 1.7% m/m – to 532.7 thousand tons. The country’s production of iron ore concentrate reached 597.8 kt for the month, down 25.2% y/y and 15.8% m/m.

In January-May 2024, steel enterprises of Kazakhstan increased steel production by 3.6% compared to the same period in 2023, up to 1.68 million tons. Flat products output reached 1.08 million tons, up 5.8% y/y.

In 2023, Kazakhstan increased steel production by 16.4% year-on-year – to 3.92 million tons. Production of flat products in the period fell by 3.6% compared to 2022, to 2.45 million tons.

As GMK Center reported earlier, Kazakhstan’s Qarmet (formerly ArcelorMittal Temirtau) plans to increase its steel production in 2024. Steel production is expected to grow by 13% this year compared to 2023, to 3.3 million tons, while iron ore concentrate production is expected to grow by 10%, to 10 million tons. At the same time, coal production is expected to decline by 2%.