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KAZ Minerals reported production results of the first quarter

29 June 2016

KAZ Minerals has reported the results of I quarter of 2016. In this period it produced 21.5 thousand tons of cathode copper. Included in the volume of 1,5 thousand tons of copperproduced from oxidized Aktogay raw materials. The volume of production of copper concentrate reached the level of 22.4 thousand tons. Considered 1.1 thousand tons of copper concentrate obtained at Bozshakol.

The pace of production will provide the Group scheduled volume. By the end of 2016 it needs to be 130−155 thousand tons of cathode copper. The benchmark helps to increase the volume on Bozshakol and Aktogay. These mining companies are the growth projects of the Group. In the first quarter the operation of fixed plant on Bozshakol processing of sulfide raw materials. By the end of this year is expected to reach the design capacity of the complex at Aktogay. It focuses on the processing of oxidized raw materials. Three parties copper concentrate produced Bozshakol, was sent to Chinese consumers.

Enterprise Bozymchak mine and the East region produced 19.7 thousand tons of cathode copper. This indicator relative to the fourth quarter of 2015, down 2.6 thousand tons. Deterioration occurred against the backdrop of a lower content of copper in the resulting materials. These results fully meet the expectations of KAZ Minerals. The rate of production does not violate the established plan in the 70−75 thousand tons of cathode copper.

In January-March, the volume of the ore reached the level of 10.6 million tonnes. Figure 32% over the fourth quarter of last year. Improvement based on increasing the volume of the extracted raw material is oxidized at Aktogay. Compared to the first quarter of 2015, the performance improved 10 times. The results are observed on the background of mining in the open way. The average number in the raw material of copper is 0.65%.

For a specified period of KAZ Minerals produced 19.8 million tons of concentrate of zinc. The figure below the results of IV quarter of 2015 of 1.1 thousand tons. The decline is due to lower metal content in the mined ore. Mining is carried out in Oryol and Artemyevskoe mine East region.

The volume of production of granulated silver in the period amounted to 751000 oz. The result exceeds the previous quarter by 10%. The production of gold bullion amounted to 12.7 million ounces. These indicators are almost twice higher than in the fourth quarter of 2015.

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