Kazakh Kazzinc decreases zinc production in first quarter of 2013
Azerbaijan, Baku, May 13 / Trend E. Kosolapova/
Kazakh Kazzinc company decreased zinc production from 74,700 tons in the first quarter of 2012 to 72,200 tons in the first quarter of 2013, GlencoreXstrata company which is the main shareholder of Kazzinc reported on Monday.
Kazzinc's gold production increased from 125,000 oz to 154,000 oz in the reporting period. Silver production decreased from 4.63 million oz to 4.31 million oz in this period.
Lead production decreased to 21,800 tons in the first quarter of 2013 compared to 22,000 tons in the same period of 2012. Copper production increased from 14,000 tons to 15,100 tons in this period.
Kazzinc is a major fully integrated zinc producer with considerable copper, precious metals and lead credits. The company's core operations are in Kazakhstan, most are in East-Kazakhstan Region. The company was established in 1997 through the merger of Eastern Kazakhstan's three main non-ferrous metal companies - "Ust-Kamenogorsk Lead and Zinc Combinate", "Leninogorsk Polymetallic Combinate" and "Zyryanovsk Lead Combinate". All three producers were majority-owned by the Kazakh government. The controlling block of shares in Kazzinc has been sold to the private sector and Glencore International AG became the company's main investor.