Month: November 2022

Q3 2022 Production Report

KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR nine months and THE third QUARTER ENDED 30 september 2022

  9m
2022		 9m
2021		 Q3 2022 Q2 2022 Q3 2021
Copper production1 kt 281.9 223.9   102.0  90.0 73.6
Aktogay kt 167.8 102.3 63.6  53.5 32.4
Bozshakol kt 77.9 81.6 26.3  24.9 27.7
East Region & Bozymchak kt 36.2 40.0 12.1  11.6 13.5
Gold production2 koz 128.9 126.2 44.4  41.8 43.3
Silver production2 koz 2,718 2,513 986  844 849
Zinc in concentrate kt 29.4 34.1 10.2  8.5 12.3
Copper sales3 kt 280.4 199.4   92.9  96.7 62.4
Gold sales4 koz 142.3 98.5   42.8  49.1 36.0
Silver sales4 koz 2,995 2,216   1,003  990 805
Zinc in concentrate sales kt 32.7 33.2   8.6  9.1 11.1

1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
2. Payable metal in concentrate
3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
4. Payable metal in concentrate and toll processed metal

Highlights

  • Copper production1 increased by 26% to 282 kt in the first nine months of 2022 (9m 2021: 224 kt). The world class ramp up of the second sulphide concentrator at Aktogay, as well as improved performance at Sulphide 1 and the oxide plant, enabled Aktogay to increase its copper output by 64% to 168 kt in the year to 30 September 2022 (9m 2021: 102 kt).
  • Management is focused on maximising ore processed volumes and all operations delivered increased throughput and copper output in the quarter. Both concentrators at Bozshakol operated above design capacity throughout the third quarter and due to operational improvements are on track to exceed design capacity for the full year.
  • Gold production of 129 koz represented an increase of 2% compared with the first nine months of 2021 (9m 2021: 126 koz), as Bozshakol output rose due to higher ore throughput and gold grades processed.
  • Copper sales were aligned with copper production in the first nine months of the year but were 9% behind production in the third quarter, as Aktogay output exceeded expectations. The Group’s finished goods inventory is expected to reduce in the fourth quarter and fully unwind during 2023.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals has delivered an excellent set of operational results in the first nine months of 2022, with copper output increasing by 26%. The world class ramp up of the second sulphide concentrator at Aktogay has resulted in a step change in our production, while site management has continued to improve ore throughput across the Group to maximise copper output.”

For further information please contact:

KAZ Minerals    
Susanna Freeman

Maksut Zhapabayev

 Company Secretary, London

Corporate Communications, Almaty

 Tel: +44 20 7901 7826

Tel: +7 727 244 03 53

REGISTERED OFFICE

7th Floor, 83 Victoria Street, London SW1H 0HW, United Kingdom.

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT

Q4 2022 Production Report

KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR twelve MONTHS AND THE fourth QUARTER ENDED 31 deceMBER 2022

  12m
2022		 12m

2021

 Q4 2022 Q3

2022

 Q4

2021
Copper production1 kt  379.7  298.7    97.8  102.0 74.8
Aktogay kt  227.5  138.4  59.7  63.6 36.1
Bozshakol kt  102.1  107.5  24.2  26.3 25.9
East Region & Bozymchak kt  50.1  52.8  13.9  12.1 12.8
Gold production2 koz  171.0  166.8  42.1  44.4 40.6
Silver production2 koz  3,768  3,417  1,050  986 904
Zinc in concentrate kt  47.0  46.5  17.6  10.2 12.4
Copper sales3 kt  382.3  252.6    101.9  92.9 53.2
Gold sales4 koz  177.5 136.9    35.2  42.8 38.4
Silver sales4 koz  3,898 2,935    903  1,003 719
Zinc in concentrate sales kt  47.2 42.9    14.5  8.6 9.7

1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
2. Payable metal in concentrate
3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
4. Payable metal in concentrate and toll processed metal

Highlights

  • Copper production1 increased by 27% to 380 kt in 2022 (FY 2021: 299 kt). The world class ramp-up of the second sulphide concentrator at Aktogay, as well as higher output from Sulphide 1, resulted in a 64% increase in Aktogay copper output to 227 kt in 2022 (FY 2021: 138 kt).
  • Copper production1 in the fourth quarter fell by 10% to 98 kt (Q3 2022: 102 kt) as maintenance resulted in lower output from Sulphide 1 at Aktogay and the sulphide plant at Bozshakol.
  • Gold production2 of 171 koz increased by 2% compared with the prior year (FY 2021: 167 koz). Bozshakol output rose as the site achieved improved recoveries and processed higher gold grades.
  • Copper sales3 were slightly higher than copper production in 2022, driven by the partial release of accumulated finished goods inventory which is expected to unwind fully during 2023.

Andrew Southam, Chief Executive Officer, said: “During 2022 KAZ Minerals achieved its highest ever copper output at 380 kt, a 27% increase on the prior year. The Group processed record volumes of ore in the year, driven by the world class ramp-up of the sulphide concentrator at Aktogay and excellent operational performance from the Group’s other assets.”

KAZ Minerals    
Marie Edwards

Maksut Zhapabayev

 Company Secretary, London

Corporate Communications, Almaty

 Tel: +44 20 7901 7832

Tel: +7 727 244 03 53

REGISTERED OFFICE

7th Floor, 83 Victoria Street, London SW1H 0HW, United Kingdom.

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT