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KAZ Minerals PLC (“KAZ Minerals” or “the Group”) announces that following continued commissioning progress the Aktogay sulphide plant has been declared commercial. Revenues, operating costs and interest expenses associated with the Aktogay sulphide plant will be recorded in the Group’s income statement from October 2017.
Higher than anticipated copper grades at the top of the ore body and the successful ramp up of the sulphide concentrator are expected to result in Aktogay meeting or exceeding the upper end of its 2017 copper production guidance range of 70-85 kt.
The Group’s third quarter production results will be set out in the Quarterly Production Report and Interim Management Statement on 26 October 2017.
Oleg Novachuk, Chief Executive, said: “I am pleased to announce that we have achieved commercial production at the Aktogay sulphide plant, the second of our two major growth projects. During the construction and ramp up of the projects we have consistently delivered against our operational and financial targets and we now look forward to reaching design capacity at Bozshakol this year and Aktogay in 2018.”
For further information, please contact:
Susanna Freeman
Company Secretary
Tel: + 44 (0)20 7901 7826