Month: December 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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Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons

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Director External Appointment

Pursuant to Listing Rule 9.6.14 of the UK Listing Authority, KAZ Minerals PLC notes the appointment of Michael Lynch-Bell, non-executive director and senior independent director of the Company, as an independent non-executive director of Gem Diamonds Limited with effect from 16 December 2015.

Stephen Hodges
Company Secretary
Tel: + 44 (0)20 7901 7832 

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Bozshakol Project Update

KAZ Minerals PLC announces that it will participate today in a live television transmission to mark the launch of a number of important industrial projects in Kazakhstan. During the broadcast an update on the status of the Bozshakol project will be given.

The Bozshakol project has progressed well to date in the fourth quarter and is currently undergoing commissioning works, including the movement of material through the primary crusher, conveyor and reclaim areas as well as testing of the grinding mills. The first production of copper in concentrate is now expected to occur in January 2016.

Oleg Novachuk, Chief Executive, said: “We have made excellent progress in finalising the construction of the processing facilities at Bozshakol. The testing of individual components of the concentrator is well underway and we now anticipate the first production of copper in concentrate in January next year.”

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Directorate Change

KAZ Minerals PLC (“KAZ Minerals” or “the Company”) announces that Clinton Dines has decided to step down as an independent non-executive Director of the Company and consequently as a member of the Audit Committee and the Health, Safety and Environment (“HSE”) Committee with effect from 31 December 2015.

Clinton Dines has served on the Board of Kazakhmys PLC and KAZ Minerals for six years. During that time he has provided valuable insight and assistance in building the strong partnerships in China which have helped KAZ Minerals to deliver its strategy of high growth, low cost copper production in Kazakhstan.

In light of this Board change, John MacKenzie (an independent non-executive Director of the Company) will join the Audit Committee with effect from 1 January 2016. There will be four remaining members of the HSE Committee so there are no plans to appoint a replacement to that committee.

Following the departure of Clinton Dines, the Board will remain fully compliant with the independence requirements of the UK Corporate Governance Code, with a majority of independent non-executive Directors.

Simon Heale, Chairman, said: “I would like to thank Clinton on behalf of the Board and all of our colleagues in KAZ Minerals for the valued contribution he has made to the Group since 2009. Clinton’s knowledge of China combined with his experience of the global resources sector have been a great asset to the Group as we have re-focused the business on copper and the development of our major growth projects in conjunction with our Chinese partners. We wish Clinton every success in the future.”

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KAZ Minerals announces First Copper Produced from Aktogay Oxide Project

KAZ Minerals PLC announces that it has produced its first copper cathode from oxide ore at the Aktogay project in the East of Kazakhstan. The SX/EW plant is expected to swiftly reach an output level of 15 kt per annum. The sulphide concentrator remains on track for commissioning in 2017, which will result in the Aktogay project delivering a combined production from sulphide and oxide ore of 105 kt per annum on average for the first 10 years.

Oleg Novachuk, Chief Executive, said: “I am delighted to announce the first copper from our major growth projects with the commencement of cathode output from oxide ore at Aktogay. Our other major growth project, Bozshakol, will start production of copper in concentrate in the first quarter of 2016 and the main sulphide concentrator at Aktogay will be commissioned in 2017. The completion of the Aktogay oxide project is an important step in delivering industry leading growth from our portfolio of large scale, low cost, open pit copper mines.”

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