Sulphuric Acid Plant

The project envisions comprehensive redevelopment of the existing sulphuric acid plant currently located at the site of a copper smelting facility in сentral part of Kazakhstan. The facility is currently operated by a subsidiary of Kazakhmys Holding, one of the largest copper producers in Central Asia. The new redeveloped plant will be fully integrated with the existing copper smelting operations and will use SO₂-rich off-gas generated during copper production as its primary feedstock, ensuring a secure, low-cost, and continuous supply of raw material. The use of existing industrial infrastructure—including power supply, water access, and rail connectivity—will minimize both capital expenditure and operational costs, while accelerating commissioning and time-to-market. The project is estimated to result in expansion of annual production capacity of sulphur acid from 80,000 to 300,000 tonnes and 90% reduction of SO₂ emissions thanks to the use of advanced sulphur extraction technology. The sulphuric acid produced will serve domestic industrial consumers, with stable, long-term demand driven by Kazakhstan’s massive uranium sector (~40% of the global uranium production), rapid growth of the fertilizer industry and increasing volumes of hydrometallurgy. The total project CAPEX is estimated at USD 200 million, with 80% expected to be financed through debt. Assuming local currency (tenge) debt at 12.5% and a stable sulphuric acid price maintained at the current market level, the unlevered equity IRR is projected at 18%. At a 12% discount rate, the resulting NPV is estimated at USD 26 million.