Baku, Azerbaijan, Apr. 29
By Elena Kosolapova - Trend:
Kazakhstan's mining company KAZ Minerals PLC produced 21,500 tons of copper cathode equivalent in the first quarter of 2016 (19,100 tons in the first quarter of 2015), said the report posted on the company's website.
The company produced 22,400 tons of copper concentrate during the reporting period (21,500 tons in the same period of 2015).
These indicators include copper produced at the complex on processing of oxide ore at Aktogay mining and processing enterprise launched in late 2015, and copper concentrate produced at Bozshakol mining and processing enterprise, which was commissioned in February 2016.
"We expect to achieve our full year copper production target of 130,000-155,000 tons of copper cathode equivalent, delivering industry leading production growth at highly competitive cash costs," said the company.
KAZ Minerals PLC produced 10.6 million tons of ore in the first quarter of 2016, which is by 32 percent more than in Q4 of 2015 (mainly due to increased mining of oxide ore at Aktogay). Total ore extraction was more than ten times the volume mined in 1Q2015 due to the commencement of large scale open-pit mining at Aktogay and Bozshakol. The average copper content in the ore is 0.65 percent.
The company produced 19,900 tons of zinc in concentrate during the reporting period that is by 1,100 tons less than the previous quarter as mining continued in areas with lower zinc grades at the Artemyevsky and Orlovsky mines.
Silver granule equivalent was 751,000 ounces in the first quarter of 2016 that is by 10 percent more than in the same period of 2015.
The company produced 12,700 ounces of gold, which is almost twice more than in the fourth quarter of 2015.
KAZ Minerals PLC ("KAZ Minerals" or "the Group") is a high growth copper company focused on large scale, low cost, open pit mining in Kazakhstan. It is a leading copper producer in Kazakhstan with five operating mines and four concentrators. In 2014, total copper cathode output from continuing operations was 84,000 tons.
Edited by SI
---
Follow the author on Twitter: @E_Kosolapova