Month: February 2015

Total Voting Rights

In conformity with the Disclosure and Transparency Rules (“the Rules”), the Company notifies the market of the following:

At the date of this announcement, the issued capital of the Company comprises 458,379,033 ordinary shares.

The Company currently holds 11,701,830 ordinary shares in treasury and the issued share capital of the Company which carries voting rights of one vote per share comprises 446,677,203 ordinary shares (excluding treasury shares).

The above figure of 446,677,203 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Rules.

For further information, please contact:

Stephen Hodges

Company Secretary

Tel: + 44 (0)20 7901 7832

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Preliminary Results 2014

KAZ MINERALS PLC AUDITED results for the year ENDED 31 December 2014 

  • Restructuring completed 31 October 2014
  • Disposal Assets transferred to Cuprum Holding
  • Company re-named KAZ Minerals PLC
  • Repositioned as a low cost, high growth copper miner
  • Operational highlights – continuing operations
  • Copper cathode production +9% to 83.5 kt, upper end of guidance (2013: 76.8 kt)
  • Silver and zinc by-products in line or ahead of guidance
  • First shipment of concentrate from Bozymchak copper-gold project
  • Financial highlights – continuing operations
  • EBITDA from continuing operations (excluding special items) $355 million (2013: $359 million), with cost measures offsetting lower revenues
  • H2 2014 net cash cost of 107 USc/lb benefiting from the tenge devaluation, strong cost management and zinc by-product credits
  • Balance sheet
  • Received $1.25 billion proceeds from sale of stake in Ekibastuz GRES-1
  • Refinanced PXF facility, fully drawn at $349 million
  • Year end net debt $962 million
  • Undrawn facilities of $798 million and gross funds of $2,130 million as at 31 December 2014
  • Major growth projects on track
  • Bozshakol expected to commence commissioning with limited production in the fourth quarter of 2015
  • Capital expenditure in 2014 $0.5 billion, remaining $0.9 billion to be spent in 2015
  • Aktogay oxide on course for production in the fourth quarter of 2015, sulphide in 2017
  • Capital expenditure $0.4 billion in 2014, expenditure in 2015 expected to be $0.5-$0.7 billion
  • Acquired Koksay, our third major growth project for total consideration of $260 million including $35 million deferred to 2015
  • 2015 outlook
  • 2015 copper cathode production guidance for East Region and Bozymchak 80-85 kt
  • By-product grades expected to be temporarily lower in East Region
  • 2015 gross cash cost guidance of 280–300 USc/lb for operating mines

Oleg Novachuk, CEO said: “2014 was a year of transformational change for the Group. We successfully completed our Restructuring in October 2014 and this has repositioned KAZ Minerals on the global cost curve, retaining a portfolio of first and second quartile operating and development assets. We are excited to be entering the final stages of the construction of Bozshakol, the first of our major growth projects, and continuing the development of Aktogay. We anticipate the copper market will return to deficit as we ramp up output from our major growth projects.”

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Appointment of John MacKenzie as an Independent Non-Executive Director

KAZ Minerals PLC (“KAZ Minerals”) today announces the appointment of John MacKenzie as an independent non-executive Director with effect from 1 March 2015. John will become a member of the Health, Safety and Environment Committee and the Projects Assurance Committee.

John is a senior mining executive with more than 23 years’ experience in the metals and mining sector acquired with the Anglo American group where he was CEO of Zinc from 2006 to 2009 and CEO of Copper from 2009 to 2013. Since 2013, John has been CEO of Mining at Audley Capital Advisors, identifying potential private equity opportunities in the mining sector. John brings extensive international operating experience to the Board, gained in Africa, South America, North America and Europe.

Simon Heale, non-executive Chairman, said: “I am pleased to welcome John MacKenzie to the Board at this important time for the Group following the recent Group restructuring. As the former CEO of Copper at Anglo American, John brings extensive experience of the copper mining industry and we look forward to him joining us.”

There are no further details that are required to be disclosed in respect of the appointment of John MacKenzie under LR9.6.13R of the Listing Rules of the UK Listing Authority.

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Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons

Notice of Preliminary Results 2014

NOTICE OF PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2014

KAZ Minerals PLC will announce its preliminary results for the year ended 31 December 2014 on Thursday 26 February 2015 at 7.00am (UK time).

A presentation for analysts will be held in the Theatre at the London Stock Exchange, 10 Paternoster Square, London EC4M 7LS at 9.00am (UK time).

The presentation for analysts can also be accessed by conference call at 9.00am (UK time). The dial-in details are as follows:

Telephone: +44 (0) 20 3003 2666

Please quote the password: KAZ Minerals

A webcast of the presentation for analysts will also be available on the KAZ Minerals website (www.kazminerals.com).

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