Kazakh Metallurgical Corporation increases revenues by 10 percent in 2011

Azerbaijan, Baku, March. 1 / Trend E. Kosolapova/

Kazakh Metallurgical Corporation Kazakhmys increased sales revenues by 10 percent in 2011, the company reported on Thursday. Kazakhmys' sales revenues increased from $3.228 billion in 2010 to $3.548 billion in 2011.

This statement excludes the contribution from ENRC PLC, in which Kazakhmys has a 26 percent shareholding.

The company's segmental EBITDA excluding special items, increased by 4 percent in this period to $1.959 billion supported by the growth in revenues.

"We made excellent progress on our growth projects during 2011. Bozshakol (field) started its development phase in August 2011, and the $1.8 billion project remains on track for first production of concentrate in 2015. At the same time, the feasibility study for Aktogay was commenced with a completion date expected by the end of 2012, with anticipated first production in 2016," the company said.

Earlier, the company signed a loan agreement with China Development Bank for 1.5 billion for development of Aktogay.

Kazakhmys decreased copper production by 10 percent in 2011 to 304,900 tons, the company reported earlier. The company's copper cathode production hit 307,600 tons, zinc in concentrate production 139,600 tons, silver production - 13.137 million oz and 117,900 oz of gold in 2011.

The company forecasts copper production in 2012 at the level of 2011. Silver production is anticipated at 12,000 koz, gold output at 120 koz. Moreover, the company forecasts a slight increase in zinc output.

Kazakhmys is a leading international natural recourses group with significant interests in copper, gold, zinc, silver and power generation. It is the largest copper producer in Kazakhstan and one of the top worldwide with seventeen operating mines, ten concentrators and two copper smelters.

Kazakhstan boosts goods import from Denmark
Kazakhstan boosts goods import from Denmark
Georgian State Electrosystem plans to issue bonds
Georgian State Electrosystem plans to issue bonds
Establishment of free trade zone in Iran's Ardabil Province to improve trade - MP
Establishment of free trade zone in Iran's Ardabil Province to improve trade - MP
Loading Bars
Latest
Azerbaijani embassy denounces decision of Latvian parliament on events of 1915
Kazakhstan boosts goods import from Denmark
Georgian State Electrosystem plans to issue bonds
Establishment of free trade zone in Iran's Ardabil Province to improve trade - MP
Chief of ADB's Energy Sector Group unveils details on ADB Draft Energy Policy
Azerbaijani team express satisfaction for participating in Rhythmic Gymnastics World Cup
Azerbaijani team in group exercises reaches final of Rhythmic Gymnastics World Cup in Baku
Revenues from customs duties increase in Azerbaijan
Austrian IT company discloses volume of entire internet traffic accounting for people in 2020
Azerbaijan's 4M2021 revenues from State Customs Committee unveiled
Azerbaijan almost doubles export of aluminum
Azerbaijan partially resuming traditional form of education
Armenia experiences continuous population decline
EU to continue activity in Azerbaijan in field of green economy - Head of EU delegation
Head of EU Delegation to Azerbaijan talks possibilities of resuming int'l travel
Group teams perform at National Gymnastics Arena as part of Rhythmic Gymnastics World Cup in Baku (PHOTO)
Azerbaijan names finalists in exercises with ball within Rhythmic Gymnastics World Cup in Baku
Azerbaijan names finalists in exercises with hoop within Rhythmic Gymnastics World Cup in Baku
Rhythmic Gymnastics World Cup in Baku - results of performance of Azerbaijani gymnasts in exercise with hoop and ball (PHOTO)
Italian gymnast talks about friendly relations with Azerbaijani gymnast
Best moments of first day of Rhythmic Gymnastics World Cup in Baku (PHOTO)
World Cup in Baku - most long-awaited competition, says Lithuanian gymnast
WB plans to issue loan for road project in Azerbaijan
Georgian SME program aims digitization and environmental initiative to address climate change
Georgia to build enterprise for production of cleaning and detergents
Presidents of Uzbekistan, Russia consider strengthening of strategic partnership
Trade turnover between Uzbekistan and Belarus significantly increases
Hungarian lab confirms reliability of Sputnik V jab delivered to Slovakia
France's Macron: Vaccine patents not the issue, it's getting jabs out
Monday.com files for Wall Street IPO
Georgia, Ukraine emphasize European and Euro-Atlantic integration aspirations
Organizing committee of World Cup in Azerbaijan’s Baku doing its job perfectly - Hungarian gymnast
Hotel price index up in Georgia for April 2021
Qatar Airways to resume flights from Doha to Baku soon
Uzbekistan reveals financial performance of Uzbek mobile operators
Iran's sees increase in petrochemical exports
Indian Embassy in Baku introduced a new Sanskrit learning App, ‘Little Guru’ (PHOTO)
Azerbaijan discloses number of views of President Aliyev’s interview on Twitter (VIDEO)
Azerbaijan shares data on number of vaccinated citizens for May 7
Azerbaijan issues data on 1Q2021 export of fruits, vegetables
Azerbaijan confirms 722 more COVID-19 cases, 1,854 recoveries
Iran-Syria trade increases - Chamber of Commerce
Heydar Aliyev Foundation to organize legendary Khary Bulbul music festival in Shusha
Azerbaijan State Security Service talks arrest of illegal armed groups' members
VISA, Central Bank of Azerbaijan sign agreement on development of non-cash payments in Azerbaijan
Pakistan PM Khan in Saudi Arabia to discuss relations
Georgian Formula Construction exports building materials to Lithuania
Firefighters tackle blaze at 19-storey London tower block
Iran increases amount of jobs in free economic zones
Azerbaijan creates best conditions in National Gymnastics Arena - Uzbek gymnast
Greece, Estonia have biggest decrease in CO2 emissions from energy use
Iran says no need for direct or indirect talks with US
Georgia sees increase in international visitors
AzerGold discloses results of tender for software installation
Highest rate of inactive loans recorded in Georgian Cartu Bank
Russia documents 8,386 COVID-19 cases in past 24 hours
U.S. administers nearly 252 mln doses of COVID-19 vaccines
Georgia needs investments for faster economic recovery - PM
Azerbaijan has lower COVID-19 death rate compared to global indicators - professor
Kazakhstan sees decrease in petroleum oil exports to Spain
Baku hosts opening ceremony of Rhythmic Gymnastics World Cup (PHOTO)
Former serviceman accused of treason and espionage in Armenia
Azerbaijan plans to withdraw its peacekeepers from Afghanistan – Defense ministry
India grants permission for 5G trials to telecom service providers
Armenian side does not fulfill obligations upon int’l humanitarian law - MFA
Japan pledges $50.3 million to help India combat COVID-19
Uzbekistan and Kazakhstan developing analogy of Schengen visa for Silk Road countries
Azerbaijan forming perspective industrial complex
Azerbaijan - important int’l transport hub - chairman of Azerbaijan Railways CJSC (PHOTO)
ADB to no longer finance coal mining, oil, and natural gas field exploration
Successful policy on development of sports in Azerbaijan bearing fruit - Deputy Sports Minister
All gymnasts provided with necessary time to train for Rhythmic Gymnastics FIG World Cup in Baku - Greek gymnast
Germany says production capacity, not patents, key to upping vaccine output
Saudi to make COVID-19 vaccinations mandatory for all workers
Georgia shares data on number of citizen registered for temporary employment in Germany and Israel
Uzbekneftegaz increases natural gas output at field of Gazli oil and gas production dep’t
Uzbekistan to increase copper sulfate exports to Poland
Several investment projects to be implemented in Kazakhstan's Zhambyl in 2021
Iran continues to strengthen ties with China, Russia
Winners of ‘Sustainable Development in Chemistry and Chemical Engineering’ conference awarded (PHOTO)
Very exciting to perform in Rhythmic Gymnastics FIG World Cup in Baku - Polish gymnast
Global Affairs Canada welcomes release of Armenian detainees by Azerbaijan
Azerbaijan's SME Dev't Agency holds training for female entrepreneurs (VIDEO)
Azerbaijani PulPal payment system receives purchase offer
Georgia begins renovating buildings and infrastructure in Gardabani
Azerbaijan eyes to launch WeChat payment solution
Azerbaijan's Central Bank unveils results of tender launched to support database platform
SOCAR’s Petkim reveals profit in Q1 2021
S.Korea to set up training center for advanced technologies of fruit, vegetable production in Uzbekistan
Oil prices set for weekly gain despite India virus surge
Azerbaijan boosts steel imports from Turkey
No 'Indian' strain of COVID-19 detected in Azerbaijan
Kazakhstan-China Pipeline LLP opens tender on repairs of pipelines
Uzbekistan, Ireland consider establishing co-op in tourism sector
Egyptian gymnast talks AGF's organization of World Cup in Baku
Nuvei acquires Israeli fintech co Simplex for $250m
SOCAR’s Petkim increases production capacity to 92%
Kazakhstan decreases imports of Belgium-made goods
Thailand expects up to 20 mln doses of Pfizer vaccine from July
Kazakhstan's inflation rate for April 2021 revealed
All news