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Kazakhstan's KAZ Minerals faces quarterly output decrease at some mines

Business Materials 7 August 2020 16:19 (UTC +04:00)
Kazakhstan's KAZ Minerals  faces quarterly output decrease at some mines

BAKU, Azerbaijan, Aug. 7

By Nargiz Sadikhova - Trend:

Copper production of Kazakhstan’s KAZ Minerals company reached 153,800 tons in 1H2020, which is 4 percent more than during the same period of 2019, Trend reports with reference to the company’s report.

In turn, strong gold production of 109,700 ounces was observed compared to 87,700 ounces in 1H2019, which is 25 percent more year-on-year.

The ore production at Aktogay mine was 19.7 million tons in 1H2020 (24.2 million tons in 1H2019), as oxide production was focused on re-irrigation of previously mined ore and the extraction of oxide raw materials was temporarily suspended. The production is to be resumed in 3Q2020.

The sulphide ore production stood at 56,100 tons (62,300 tons in 1H2019) due to a decrease in processing volumes, a decrease in copper grade in ore and a temporary decrease in the recovery factor.

The copper cathode production from oxide ore at Aktogay mine was 11,500 tons in 1H2020 (11,800 tons in 1H2019), and to 5,400 in 2Q2020 (6,100 tons in 1Q2020).

The results at Aktogay mine are on track to achieve full year copper production guidance of 120,000-130,000 tons.

Ore production at Bozshakol mine was 14.3 million tons in 1Q2020 (17.5 million tons in 1H2019) which is 19 percent less than in 1H2019

Copper output at the mine amounted to 60,400 tons which is 28 percent more than in 1H2020 due to higher metal content in the extracted ore. Copper extraction was 30,600 in 2Q2020 and 3 percent more than in 1Q2020, is also well positioned for full year guidance of 110,000-120,000 tons.

Gold production at Bozshakol mine was 83,300 ounces (59,600 ounces in 1H2019) which benefited from higher processing volumes and high metal content in the ore, representing good progress against full year guidance of 140,000-150,000 ounces.

Silver production at Bozshakol was 465,000 ounces which was 39 percent more than in 1H2019 also serves to reach annual production plan of 700,000 ounces.

Ore production in East Region and Bozymchak mine in Kyrgyzstan was 2,1 million tons in 1H2020 (1.9 million tons in 1H2020). Copper production was 25,800 tons in 1H2020, which was 2 percent less than during the same period of 1H2019 (26,400 tons). Output in 2Q2020 was 14,000 tons, which is 19 percent more than in 1Q2020.

Gold production stood at 25,800 ounces at East Region and Bozymchak mine (26,400 ounces in 1H2019).

Silver production was 1.03 million ounces in 1H2020 (930,000 ounces in 1H2019) and zinc in concentrate output was 23,800 tons both in line with expectations.

KAZ Minerals is the largest copper producer in the country, focused on the mining of copper and the development of new copper mining projects in Kazakhstan and Russia.

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Follow the author on twitter: @nargiz_sadikh

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