BAKU, Azerbaijan, February 10
By Nargiz Sadikhova - Trend:
Kazakhstan’s KAZ Minerals achieved copper production of 299,000 tons in 2021, exceeding the production target set at the start of the year of 275,000-295,000 tons, Trend reports citing the company.
The production was exceeded due to Aktogay and Bozshakol operating above design capacity and an exceptional ramp-up at the Aktogay expansion.
Furthermore, the second sulphide concentrator at Aktogay was commissioned in October 2021 and has shipped its first copper concentrate to customers during the fourth quarter. The ramp-up has outperformed expectations, with the new concentrator achieving design capacity throughput for extended periods.
Copper production in the fourth quarter increased by 2 percent to 75,000 tons as compared to 74,000 tons in 3Q2021 driven by an increase at Aktogay following the start-up of the second sulphide concentrator, which offset lower output from Bozshakol and East Region, and Bozymchak, where grades fell.
Full year gold production of 167,000 ounces was consistent with the Group’s target of 160,000-180,000 ounces. KAZ Minerals exceeded its annual targets for the production of both silver and zinc in concentrate.
Copper sales of 253,000 tons in 2021 were 18 percent below production as the Group experienced congestion on the rail network during the second half of the year, including restrictions at the Kazakhstan-China border associated with enhanced Covid-19 measures. There has subsequently been a significant improvement in transit times with inventory levels reducing in January.
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