Glencore Plc is in talks to sell its stake in Kazzinc Ltd. to local businessman Shakhmurat Mutalip as part of a series of deals that could reshape Kazakhstan's vast mining landscape. The potential transaction represents a significant shift in ownership of one of Kazakhstan's largest mining operations.

Kazzinc, a major zinc and precious metals producer, has been a key asset in Glencore's portfolio since the company acquired it in 2007. The mining company operates several facilities in Kazakhstan's eastern region, producing substantial quantities of zinc, lead, silver, and gold. The sale to Mutalip would mark a return of significant mining assets to local control after years of foreign ownership.

The deal comes as Kazakhstan seeks to increase domestic ownership in its strategic mining sector. Glencore's potential exit from Kazzinc follows a broader trend of resource nationalism in Central Asia, where governments and local investors are increasingly asserting control over natural resources. The transaction could signal further consolidation in Kazakhstan's mining industry under local ownership.