FC Kazakhmys was founded in 2006 in Satpayev (Satpaev), Karagandy The club was tied to the local mining industry (Kazakhmys is a major copper producer), which provided sponsorship but also led to its downfall when funding dried up.
The club won the Kazakhstan First Division twice, in 2007 and 2008 and were promoted to the Kazakhstan Premier League for the 2009 season but faced ongoing financial issues. Whilst they eached the top tier, they struggled to sustain operations.
In May 2011, the club announced it would discontinue activities. There was later interest from an investment group (Gadaleta Investment LLP) in reviving the license/franchise around 2015, but it did not result in a sustained return.
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