Kazakhstan's Qarmet boosts steel production 14% in 9M to 2.6 mln tonnes

TEMIRTAU. Oct 11 (Interfax) - Kazakhstan's Qarmet, formerly ArcelorMittal Temirtau, increased steel production by 14% year-on-year in 9M 2024 to 2.6 million tonnes, General Director Vadim Basin said.

"Notably, in May, Qarmet achieved its highest monthly production in the last five years, producing 330,000 tonnes of steel," Basin said at a press conference on Friday.

Coal extraction also increased by 2%, reaching 4.7 million tonnes, while concentrate production rose by 17%, totaling 2.3 million tonnes.

The ArcelorMittal international concern had owned ArcelorMittal Temirtau, Kazakhstan's largest metallurgical plant, since the 1990s. In the second half of 2023, cooperation with the concern was terminated at the initiative of the Kazakh authorities due to repeated accidents at the metallurgical plant, which resulted in employees' deaths. The new investor in ArcelorMittal's former assets, including ArcelorMittal Temirtau and the Aktau pipe plant, is Andrei Lavrentiev, co-owner of the Kazakh automaker Allur, who acquired them for $286 million.

It was reported that the investor has committed to investing over $3 billion in the plant.