Kazakh company increases copper output
Baku, Azerbaijan, Oct. 27
By Elena Kosolapova – Trend:
Kazakhstan’s mining company KAZ Minerals PLC produced 96,100 tons of copper cathode equivalent in Jan. – Sept. 2016 compared to 58,400 tons in the same period of 2015, the company reported Oct 27.
“The recently launched projects, Bozshakol and Aktogay oxide, continued to ramp up output resulting in copper cathode equivalent production in 3Q2016 increasing by 43 percent to 44,500 tons compared to 31,100 tons in 2Q2016,” the company said.
The group’s copper cathode equivalent production remains on track to achieve the existing full year guidance range of 135,000-145,000.
The company produced 90,500 tons of copper concentrate during the reporting period compared to 66,500 tons in the same period of 2015.
KAZ Minerals extracted 35.76 million tons of ore in Jan. – Sept. of 2016 compared to 6.5 million tons in the same period of 2015. The average copper content in the ore was 0.66 percent in Jan. –Sept. of 2016 compared to 1.38 percent in the same period of 2015.
The company produced 56,200 tons of zinc in concentrate during the reporting period compared to 73,300 tons in the same period of 2015.
Silver bar equivalent production hit 2.24 million ounces in Jan. – Sept. of 2016 compared to 2.45 million ounces in the same period of 2015.
Group gold bar equivalent output increased from 28,200 ounces in Jan- Sept. 2015 to 80,000 ounces in the same period of 2016.
KAZ Minerals PLC is a high growth copper company focused on large scale, low cost, open pit mining in Kazakhstan. It operates four 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 solvent extraction and electrowinning plant at Aktogay. 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.
Follow the author on Twitter:@E_Kosolapova