The Ministry of Railways of Kazakhstan forecasts a 5% growth in metallurgy, a 3.1% increase in metal ore mining, and coal production remaining stable at last year’s levels in 2025. These projections were discussed at a government meeting on economic growth, chaired by Deputy Prime Minister and Minister of National Economy Serik Zhumangarin.
Growth in metallurgy is expected to be driven by higher production of copper, gold, rolled products, ferroalloys, and cast iron. Additionally, several major projects are set to launch this year, including the Qaragandy Power Silicon complex alloys plant, Ekibastuz FerroAlloys ferroalloy production, Shagala Mining LLP cathode copper production, and the Limannoye deposit’s development.
Despite these initiatives, Zhumangarin noted that the projected growth rates are insufficient to meet Kazakhstan’s 7% economic growth target. He emphasized the need for industry-wide collaboration to achieve higher growth in the mining and metallurgical complex.
The meeting also reviewed investment activities in the West Kazakhstan and Atyrau regions. In the West Kazakhstan region, investments in fixed assets reached KZT 28.9bn ($58.9mn) in January 2025, marking a 7.1% increase from January 2024. Of these, 90.2% were private investments, while 9.8% came from budgetary funds. The region aims to attract KZT 841bn ($1.7bn) in fixed asset investments for the year.
Foreign direct investment (FDI) in West Kazakhstan for the first nine months of 2024 totaled $995.5mn, reflecting a 13.1% increase compared to the same period in 2023. The majority of these investments are directed toward the mining sector. In 2025, 25 investment projects worth KZT 44.5bn ($90.7mn) are planned, expected to create 769 jobs.
In the Atyrau region, investments in fixed assets for January 2025 amounted to KZT 100.9 billion ($205.8mn), significantly lower than the KZT 195.4bn ($398.5mn) recorded in January 2024. Despite the decline, 15 investment projects valued at KZT 59bn ($120.3mn) are set to launch this year, generating 595 new jobs. These include the construction of the ATYRAU CHICKEN poultry farm, the Aidana-Agro greenhouse complex, the Texol-Trans liquefied gas storage facility, and a vegetable storage facility by Zhumagalieva farm.
While no major barriers to investment projects have been reported, Zhumangarin urged regional authorities to accelerate business engagement and support applications for financing through the Baiterek holding. The government aims to strengthen the mining and metallurgical complex while boosting investment-driven economic growth in key regions.
