Kazakh Kazakhmys decreases copper production in first half of 2014

Business Materials 31 July 2014 12:28 (UTC +04:00)

Baku, Azerbaijan, July 31

By Elena Kosolapova - Trend: Kazakhstan's Metallurgical Corporation Kazakhmys decreased copper in concentrate production from 157,800 tonnes in the first half of 2013 to 152,500 tonnes in same period of 2014, the company reported on July 31.

Copper cathode equivalent production decreased from 144,300 tonnes to 139,200 tonnes in this period.

"Overall copper cathode equivalent production volumes remain on target to meet the
Group's projection of 285,000 tonnes to 295,000 tonnes for 2014. Output should benefit from a planned reduction of work in progress in the second half of 2014," the company said.

Ore extraction of 18.175 million tonnes was 7 percent below the comparative period in 2013 with a reduction in output in some high cost areas of the Zhezkazgan region and continued stripping work at North mine. Output in the Central Region was restricted by maintenance and equipment downtime at the concentrators.

The production of zinc in concentrate in the first half of 2014 hit 61,700 tonnes compared to 63,100 tonnes in the same period of 2013.

Gold production in the first half of 2014 was in line with the comparative period, as there was a benefit from the release of work in progress, the first half of 2013 saw a contribution from the processing of stockpiles and higher output from the former Kazakhmys Gold's mines. The output of gold hit 51,000 ounces in the reporting period.

Silver production in the first half of 2014 amounted to 5.224 million ounces compared to 7.145 million ounces in the same period of 2013.

Kazakhmys PLC is a leading international natural resources group. It is the largest copper producer in Kazakhstan and one of the top worldwide with 16 operating mines, 7 concentrators and a copper smelter. Kazakhmys Mining has a full range of facilities enabling it to process extracted ore through to finished metal. Total copper cathode equivalent output from own ore was 294,000 tonnes in 2013. The group has two major copper projects under construction.

Edited by C.N.