BAKU, Azerbaijan, May 13. Copper production of Kazakhstan’s KAZ Minerals company stood at 90,000 tons in 1Q2022, which is 20 percent more compared to 75,000 tons in 4Q2021, Trend reports citing the company.
The increase was a result of an accelerated ramp-up of the Aktogay expansion. Aktogay produced 51,000 tons of copper, a 40 percent increase compared with the 36,000 tons produced in 4Q2021.
Gold production of 43,000 ounces increased by 5 percent compared to 41,000 ounces in 4Q2021, due to higher output at Bozshakol and Bozymchak.
Copper sales of 91,000 tons were slightly above production, as the logistics constraints experienced in 4Q2021 on shipments to China eased.
“Transit times on the Kazakhstan rail network have improved significantly and the border crossing to China is operating well. The Group expects to sell its finished goods inventories, brought forward from the prior year, by the end of 2022,” the company said.
Improvements in transit times also resulted in a significant increase in sales of all of the Group’s by-product metals, with sales increasing compared with the previous quarter by 31 percent for gold, 39 percent for silver and 55 percent for zinc in concentrate.