Kazzinc to Tender 2026 Copper Output, Open Metal Sales to Rival Traders

Published: Dec 22, 2025 18:07

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Kazzinc Ltd., a Kazakh miner majority-owned by Glencore Plc, is set to open its metal sales to rival traders as governments push for greater control and revenue from natural resources. According to sources, Kazzinc has issued a tender covering all of its 2026 copper production, with further tenders planned for zinc and other metals under a new marketing model launching next year.

Glencore will retain the right to match the best competing bid, but the move highlights intensifying competition for high-quality supply as more capital flows into metals trading. Kazzinc is among the world’s largest zinc and lead producers, and also a significant supplier of copper, gold and silver. Glencore has historically marketed all of Kazzinc’s output, reinforcing its leading position in zinc and lead trading, but has faced rising competition from Trafigura Group.

The shift comes amid potential changes in ownership, with Kazakh businessman Shakhmurat Mutalip reportedly in talks to acquire Glencore’s 70% stake in Kazzinc. More broadly, resource-rich countries are taking a more active role in metal sales: Zambia and the Democratic Republic of Congo have both entered trading partnerships with Mercuria Energy Group, reflecting a global trend toward tighter state involvement in mineral marketing.

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