Kaz minerals PLC Production Report FOR nine months and the third QUARTER ENDED 30 september 2015 and Interim Management Statement

• Copper cathode production of 58 kt for the nine months
  • Underlying copper in concentrate production of 67 kt
  • On target to achieve 80-85 kt full year cathode guidance, supported by expected release of copper work in progress in Q4 2015

• Good zinc and silver by-product output
  • Zinc in concentrate output for the nine months of 73 kt, expected to be at the upper end of full year guidance (90-95 kt)
  • Silver granule output of 2,450 koz benefited from the release of work in progress, full year output now forecast to exceed FY 2015 guidance (2,250-2,500 koz) by around 10%
  • Gold output of 28 koz for the nine months, supported by 25% higher output in Q3. On course to achieve full year guidance (34-38 koz)

• Bozshakol and Aktogay pre-production activities
  • Stripping and mining of clay ore and waste material at Bozshakol continued throughout Q3, opening access to sulphide ore ahead of the concentrator commissioning in Q1 2016
  • Oxide ore output commenced at Aktogay in June, with 2,125 kt of ore at a grade of 0.37% placed on leach pads by 30 September. Acid irrigation of the leach pads commenced on 26 September

Oleg Novachuk, Chief Executive, said: “Another solid quarter of production from our East Region operations and Bozymchak leaves us well positioned to meet our 2015 copper and by-product targets. At Bozshakol, the replacement of equipment damaged in the fire on 14 August 2015 is progressing well, with the concentrator on track for commissioning in Q1 2016. Acid irrigation of oxide ore at Aktogay began in late September and we expect the first copper cathode output from the project this year.”

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A fire incident occurred overnight in the grinding area of the concentrator building at the Bozshakol project. The fire has been extinguished and there have been no reported injuries.

Further information will be released as appropriate when the extent of damage has been assessed.

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Kaz minerals PLC Production Report FOR six months and the second QUARTER ENDED 30 June 2015

• H1 copper cathode production 37 kt
  • Build-up of copper work in progress at smelter due to scheduled Q2 maintenance
  • Underlying copper in concentrate output 43 kt in H1
  • East Region and Bozymchak on track to achieve 2015 cathode production target of 80-85 kt

• Strong zinc and silver output in H1
  • Zinc in concentrate output 50 kt (FY 2015E 90-95 kt)
  • Silver granule output 1,661 koz (FY 2015E 2,250-2,500 koz) benefiting from a release of work in progress
  • Full year production for zinc and silver expected to be at the top end of guided range

• H1 gold bar output 16 koz
  • Underlying gold in concentrate output 20 koz
  • 2015 guidance revised to 34-38 koz

• Bozshakol and Aktogay pre-production mining
  • Mining activities commenced in late May at Bozshakol ahead of sulphide ore extraction in Q3
  • Oxide ore output commenced at Aktogay with 251 kt ore mined in June

Oleg Novachuk, Chief Executive, said: “We are pleased to report another solid quarter of production from our East Region mines. At the half year we are on target to achieve our 2015 copper cathode guidance and we have delivered strong zinc and silver production. Pre-production activities have started at both Bozshakol and Aktogay in preparation for the commissioning of processing facilities in the fourth quarter of 2015.”

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KAZ Minerals PLC is hosting an analyst site visit to the Bozshakol project on 2 June and is making presentations on its major growth projects to analysts today. The presentations are available on the Company’s website www.kazminerals.com.

Bozshakol remains on track to commence commissioning in the fourth quarter, with limited initial copper production in 2015. The Aktogay project also remains on track to commence production from oxide ore in the fourth quarter of 2015 and from sulphide ore in 2017.

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Kaz minerals PLC Production Report FOR THE FIRST QUARTER ENDED 31 MARCH 2015 AND INTERIM MANAGEMENT STATEMENT

• Copper cathode production 19.1 kt
  • Underlying copper in concentrate output of 21.5 kt
  • On target to meet 2015 cathode production target of 80-85 kt

• Strong zinc and silver output
  • Zinc in concentrate output of 25.1 kt (2015E 90-95 kt)
  • Silver granule output of 895 koz, benefiting from release of work in progress (2015E 2,250-2,500 koz)

• Gold output of 6.4 koz (2015E 42-47 koz)
  • Gold in concentrate output of 10.7 koz, not all processed in the period
  • Bozymchak to continue ramp up over the remainder of 2015

• Financial update
  • Copper cathode sales of 17.8 kt, slightly below production reflecting timing of deliveries over the period end
  • Net debt of $1,294 million at 31 March 2015

Oleg Novachuk, Chief Executive, said: “Our East Region operations have delivered a solid start to 2015, with efficient processing of materials. Copper production remains on track to achieve our guidance of 80-85 kt of cathode in 2015.” 

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Kaz minerals PLC Production Report for 12 MONTHS AND the fourth Quarter Ended 31 december 2014 

• Full year copper cathode production from continuing operations 83.5 kt
  • Achieved upper end of guidance, 80–85 kt
  • 2014 cathode production from continuing operations rose by 9%, supported by increase in copper in concentrate production
  • Movement from prior year also impacted by build-up of work in progress at the smelter during 2013
  • Increased recovery rate at Nikolayevsky concentrator following modernisation programme

• Q4 2014 copper cathode production from continuing operations 24.1 kt
  • Strong Q4 2014 copper cathode output of 24.1 kt (Q3 2014: 18.3 kt) as concentrate work in progress from the previous quarter was processed

• Full year by-product output from continuing operations robust
  • Zinc in concentrate output of 121 kt – ahead of guidance
  • Silver output of 3,435 koz – in line with guidance
  • Gold output of 34.6 koz – 4.0 koz gold in concentrate delivered from Bozymchak will be processed in 2015

Basis of preparation – continuing operations versus discontinued operations

• The ‘Mining Production – Retained Assets’ section contains production figures, comparative data and commentary that relate to the continuing operations in the East Region and Bozymchak
• The ‘Group Production Summary’ section includes separate production data for the Disposal Assets that were under the ownership of the Group until the Restructuring was completed on 31 October 2014

Oleg Novachuk, Chief Executive, said: “Our continuing operations in the East Region delivered a strong fourth quarter of copper cathode production and we have achieved the upper end of our full year guidance. The fourth quarter also included copper cathode production from our new copper-gold mine at Bozymchak, which made its first shipment of concentrate to the Balkhash smelter in December 2014. We look forward to updating the market on 26 February 2015 with our full year results for 2014 and on progress at our major growth projects, Bozshakol and Aktogay.” 

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KAZ Minerals PLC is giving an update on its major growth projects to analysts and investors today. The presentation slides will be made available from 4:30pm UK time on the Company’s website www.kazminerals.com. 

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