Month: October 2016

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:

Susanna Freeman
Company Secretary
Tel: + 44 (0)20 7901 7826

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT

 

Pre-Export Finance Facility Covenant Waiver

KAZ Minerals PLC (“KAZ Minerals” or “the Group”) announces that a waiver of the Net Debt to EBITDA financial covenant in the Group’s PXF facility due to be tested as at 31 December 2016 has been approved. The covenant is next due to be tested as at 30 June 2017.

The Group continues to enjoy strong support from its lenders and plans to resume discussions with the PXF bank syndicate over a longer term refinancing of the facility in early 2017, after release of the 2016 financial statements.

A similar waiver request has also been issued to Caterpillar Financial Services (UK) Limited in respect of the Group’s $50 million revolving credit facility and a formal response is expected shortly.

Q3 Production Report 2016 and IMS

KAZ MINERALS GROUP Production Report for nine months and THE third QUARTER Ended 30 september 2016 and interim management statement 

  • Copper cathode equivalent production1 in Q3 of 44.5 kt (Q2: 31.1 kt)
    • Production growth continues as Bozshakol and Aktogay oxide ramp up
    • Group guidance for 2016 maintained at 135-145 kt copper cathode equivalent (FY 2015: 81.1 kt)
  • Bozshakol more than doubles copper output in Q3 to 16.9 kt (Q2: 7.5 kt)
    • Ore throughput has steadily increased in Q3
    • Concentrator has now operated at ore throughput levels above 60% for three months, declared commercial today
  • Aktogay oxide increases copper cathode output by 69% to 6.6 kt in Q3 (Q2: 3.9 kt)
    • Oxide production benefited from seasonally warmer conditions in the third quarter
    • On track to produce around 15 kt in 2016, in line with guidance
  • By-product output on track to achieve full year guidance ranges
    • Strong Q3 gold output of 40.9 koz supported by Bozymchak operating consistently at design capacity and a temporarily high grade at Bozshakol
    • Silver bar output 806 koz in Q3 (Q2: 679 koz) assisted by a release of work in progress
    • Full year silver production expected to exceed top end of 2,500-2,750 koz guidance due to lower than expected grade decline in the East Region in 2016
    • Zinc in concentrate output of 16.6 kt in Q3, 56.2 kt in the period to 30 September 2016, on track for full year guidance of 70-75 kt
  • Net debt of $2,590 million at 30 September 2016
    • Gross liquid funds of $872 million
  1. The Group’s finished goods “equivalent” production includes both finished metals produced and the finished metal equivalent of concentrate sold in the period.

Oleg Novachuk, Chief Executive, said: “KAZ Minerals continues to deliver sector-leading production growth, with our copper output growing by 66% in the first nine months of this year. Given the progress made in ramping up Bozshakol, our first major growth project, we have declared it a commercially producing asset from today. We are also making good progress on the construction of the Aktogay sulphide project, which will deliver the next phase of our production growth in 2017.”

Please follow the link to read the full announcement.

 

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