KAZ Minerals PLC AKTOGAY COMMENCES PRODUCTION OF COPPER CONCENTRATE (7542W)
14 February 2017 - 1:40AM
UK Regulatory
TIDMKAZ
RNS Number : 7542W
KAZ Minerals PLC
13 February 2017
KAZ MINERALS
PLC
6(TH) FLOOR
CARDINAL PLACE
100 VICTORIA
STREET
LONDON SW1E 5JL
Tel: +44 (0)
20 7901 7800
==================
13 February 2017
AKTOGAY COMMENCES PRODUCTION OF COPPER CONCENTRATE
KAZ Minerals PLC ("KAZ Minerals" or "the Group") announces that
it has produced its first saleable copper concentrate from sulphide
ore at the Aktogay project, consistent with the Group's most recent
guidance for output to commence in the first quarter of 2017.
Shipments of concentrate from Aktogay are expected to begin
imminently.
The Aktogay sulphide concentrator will now ramp up with the
target of achieving commercial levels of output in the second half
of 2017. Production guidance for Aktogay in 2017 will be issued
along with the Group's full year results announcement on 23
February 2017.
Oleg Novachuk, Chief Executive, said: "I am delighted to be able
to announce the commencement of copper concentrate output from
sulphide ore at Aktogay. Both of the Group's major growth projects
are now fully operational. Our production continues to grow
strongly and is on track to reach 300 kt of copper per annum by
2018, with around 80% coming from our new low cost, open pit
mines."
For further information please contact:
KAZ Minerals
PLC
==================== ========================== =================
Chris Bucknall Investor Relations, Tel: +44 20 7901
London 7882
Investor Relations, Tel: +44 20 7901
Anna Mallere London 7814
Maksut Zhapabayev Corporate Communications, Tel: +7 727 244
Almaty 03 53
==================== ========================== =================
Instinctif Partners
==================== ========================== =================
Tel: +44 20 7457
David Simonson 2020
==================== ========================== =================
REGISTERED OFFICE
6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL,
United Kingdom.
NOTES TO EDITORS
KAZ Minerals PLC ("KAZ Minerals" or "the Group") is a high
growth copper company focused on large scale, low cost, open pit
mining in Kazakhstan. It operates three mines and three
concentrators in the East Region of Kazakhstan, the Bozymchak
copper-gold mine in Kyrgyzstan, the Bozshakol open pit copper mine
in the Pavlodar region of Kazakhstan and the Aktogay open pit
copper mine in the East Region of Kazakhstan. In 2016, total copper
cathode equivalent output was 140 kt with by-products of 75 kt of
zinc in concentrate, 120 koz of gold bar equivalent and 3,103 koz
of silver bar equivalent.
The Group's major growth projects at Bozshakol and Aktogay are
expected to deliver one of the highest growth rates in the industry
and transform KAZ Minerals into a company dominated by world class,
open pit copper mines.
Bozshakol is a first quartile asset on the global cost curve and
will have an annual ore processing capacity of 30 million tonnes
when fully ramped up, with a mine life of 40 years at a copper
grade of 0.36%. The mine and processing facilities will produce 100
kt of copper cathode equivalent and 120 koz of gold in concentrate
per year over the first 10 years of operations.
Aktogay is a large scale, open pit mine similar to Bozshakol,
with a mine life of more than 50 years and average copper grades of
0.37% (oxide) and 0.33% (sulphide). Aktogay commenced production of
copper cathode from oxide ore in December 2015 and copper in
concentrate production from sulphide ore in February 2017. The
sulphide concentrator will have an annual ore processing capacity
of 25 million tonnes when fully ramped up. Aktogay is competitively
positioned on the global cost curve and will produce an average of
90 kt of copper cathode equivalent from sulphide ore and 15 kt of
copper cathode from oxide ore per year over the first 10 years of
operations.
KAZ Minerals is listed on the London Stock Exchange, the
Kazakhstan Stock Exchange and the Hong Kong Stock Exchange and
employs around 13,000 people, principally in Kazakhstan.
This announcement contains inside information.
This information is provided by RNS
The company news service from the London Stock Exchange
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