Production of copper increases in Kazakhstan (Exclusive)

Business Materials 22 November 2017 18:09 (UTC +04:00)

Baku, Azerbaijan, Nov. 22

By Ali Mustafayev – Trend:

Copper production of the Kazakh Kaz Minerals PLC increased by 14 percent to 75.3 kilotons in 3Q2017 from 65.9 kilotons in 2Q2017, as the Aktogay sulphide concentrator continued its successful ramp up, supported by seasonally higher output from the oxide operations, a source in the company told Trend.

Copper production in 3Q also increased in Kazakhstan’s East Region and Bozymchak by 1.6 kilotons compared to 2Q.

In the nine months to 30 September 2017, copper production almost doubled to 193.3 kilotons from 98.6 kilotons, compared to the year prior, due to contribution from sulphide operations at Bozshakol and Aktogay.

“Following a strong performance from the Aktogay sulphide concentrator in the year to date, supported by a higher than anticipated copper grade, group copper production guidance has been raised to 250-270 kilotons,” said the source.

Ore extraction in 3Q, in turn, reduced by 3 percent to 17.0 million tons from 17.5 million tons in the previous quarter mainly due to reduced mining of oxide ore at Aktogay, partially offset by the increased extraction of sulphide ore. Ore extraction in the nine months to 30 September 2017 was 44 percent higher than in the prior year period, reflecting the increased mining activity at Bozshakol and Aktogay.

Ore processed increased to 12.0 million tons in the third quarter of the current year from 10.5 million tons in the previous quarter, as the Aktogay concentrator raised throughput volumes.

In the nine months to 30 September 2017 processing volumes rose by over three times compared to the prior year period, due to the higher volumes processed at Bozshakol and the start-up of the Aktogay sulphide concentrator.

KAZ Minerals PLC is a high growth copper company focused on large scale, low cost, open pit mining in Kazakhstan. It operates the Bozshakol and Aktogay open pit copper mines in the Pavlodar and East regions of Kazakhstan, three underground mines and associated concentrators in the East Region of Kazakhstan and the Bozymchak copper-gold mine in Kyrgyzstan.