On November 4, 2023, First Deputy Prime Minister of the Republic of Kazakhstan Roman Sklyar said at a government briefing that ArcelorMittal Temirtau would be bought by a Kazakh investor. It also became known what requirements are imposed on a new investor.
On October 31, 2023, Head of Government Alikhan Smailov announced the completion of the transaction to transfer AMT in favor of Kazakhstan.
Earlier it became known that the new investor will have to invest $3 billion in the modernization of ArcelorMittal Temirtau JSC.
Tragedy at the mine named after. Kostenko of ArcelorMittal Temirtau JSC in the Karaganda region occurred on the night of October 28, 2023 at 02:33. At the time of the accident, there were 252 people in the mine, and 206 miners climbed to the surface . Initially, four victims were reported, but all those who remained underground died – 46 miners.
After an emergency in the mine named after. Kostenko, head of state Kassym-Jomart Tokayev instructed the government to stop investment cooperation with ArcelorMittal Temirtau. Then the government stated that they had already reached a preliminary agreement with AMT shareholders, and also noted that “the formalization of the transaction to transfer ownership of the enterprise in favor of Kazakhstan is being completed.” Later, ArcelorMittal confirmed the transfer of the company to the ownership of Kazakhstan.