KAZ Minerals PLC Notice of Results (9593B)
05 February 2020 - 3:45AM
UK Regulatory
TIDMKAZ
RNS Number : 9593B
KAZ Minerals PLC
04 February 2020
KAZ MINERALS PLC
6(TH) FLOOR
CARDINAL PLACE
100 VICTORIA STREET
LONDON SW1E 5JL
Tel: +44 (0) 20 7901
7800
=======================
4 February 2020
NOTICE OF PRELIMINARY RESULTS
FOR THE YEAR ENDED 31 DECEMBER 2019
KAZ Minerals PLC will announce its preliminary results for the
year ended 31 December 2019 on Thursday 20 February 2020 at 7.00am
(UK time).
A presentation for analysts will be held at the London Stock
Exchange, 10 Paternoster Square, London EC4M 7LS on Thursday 20
February 2020 at 10.30am (UK time).
The presentation for analysts can also be accessed by conference
call on Thursday 20 February 2020 at 10.30am (UK time). The dial-in
details are as follows:
Telephone: +44 (0) 20 3936 2999
Please quote the participant access code: 450147
A webcast of the presentation for analysts will also be
available on the KAZ Minerals website (www.kazminerals.com).
For further information please contact:
KAZ Minerals PLC
====================== ================================= =================================
Chris Bucknall Investor Relations, London Tel: +44 20 7901 7882
Anna Mallere Investor Relations, London Tel: +44 20 7901 7814
Maksut Zhapabayev Tel: +7 727 244 03
Corporate Communications, Almaty 53
====================== ================================= =================================
Brunswick Group
====================== ================================= =================================
Carole Cable, Charlie Tel: +44 20 7404 5959
Pretzlik
====================== ================================= =================================
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, Russia and Kyrgyzstan. It operates the
Bozshakol and Aktogay open pit copper mines in the Pavlodar and
East Region of Kazakhstan, three underground mines and associated
concentrators in the East Region of Kazakhstan and the Bozymchak
copper-gold mine in Kyrgyzstan. In 2019, total copper production
was 311 kt with by-products of 38 kt of zinc in concentrate, 201
koz of gold and 3,382 koz of silver. The Group acquired the
Baimskaya project in the Chukotka region of Russia in January 2019,
one of the world's most significant undeveloped copper assets, with
the potential to become a large scale, low cost, open pit copper
mine.
The Group's new operations at Bozshakol and Aktogay have
delivered industry leading production growth and transformed KAZ
Minerals into a company dominated by world class, open pit copper
mines.
Bozshakol is a first quartile asset on the global cost curve
with an annual ore processing capacity of 30 million tonnes and a
remaining mine life of c.40 years at an average copper grade of
0.37%. The mine and processing facilities commenced output in 2016
and will produce an average of 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 remaining mine life of around 25 years (including the
expansion project) at an average copper grade of 0.36% (oxide) and
0.33% (sulphide). Aktogay commenced production of copper cathode
from oxide ore in December 2015 and copper in concentrate from
sulphide ore in February 2017. The operating sulphide concentrator
has an annual ore processing capacity of 25 million tonnes and the
sulphide processing capacity will be doubled to 50 million tonnes
with the addition of a second concentrator by the end of 2021.
Aktogay is competitively positioned on the global cost curve and
will produce an average of 100 kt of copper per year from sulphide
ore until 2021, increasing to 170 kt per year from 2022 to 2027,
after the second concentrator commences operations. Copper
production from oxide ore will be in the region of 20 kt per annum
until 2024.
The Peschanka deposit within the Baimskaya licence area in
Russia has JORC resources of 9.5 Mt of copper at an average grade
of 0.43% and 16.5 Moz of gold at an average grade of 0.23 g/t.
Average annual production over the first ten years of operations is
expected to be 250 kt copper and 400 koz gold, or 330 kt Copper
Equivalent Production, with a mine life of approximately 25 years
and first quartile operating costs. The project is located in a
region identified by the Russian Government as strategically
important for economic development and will benefit from the
construction of state-funded power and transport infrastructure and
the provision of tax incentives. The estimated capital budget for
construction is $5.5 billion and the project is currently at
feasibility study stage. The Group expects the project to generate
a significant NPV uplift and an attractive IRR at analyst consensus
copper prices. The development of Baimskaya will enable the Group
to continue its high growth trajectory, adding a large scale, long
life asset to the Group's portfolio.
KAZ Minerals is listed on the London Stock Exchange and the
Kazakhstan Stock Exchange and employs around 15,000 people,
principally in Kazakhstan.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NORSSWFMLESSEFE
(END) Dow Jones Newswires
February 04, 2020 11:45 ET (16:45 GMT)
Kaz Minerals (LSE:KAZ)
Historical Stock Chart
From Apr 2024 to May 2024
Kaz Minerals (LSE:KAZ)
Historical Stock Chart
From May 2023 to May 2024