Q1 Production Report 2018 and IMS

KAZ MINERALS GROUP PRODUCTION REPORT FOR THE FIRST QUARTER ENDED 31 MARCH 2018

  • Copper production1 increased by 3% to 67.3 kt (Q4 2017: 65.2 kt) supported by higher output at Bozshakol and Aktogay sulphide
  • On track to achieve 2018 production guidance for all metals 
  • Bozshakol
    • 20% increase in copper production2 to 26.9 kt (Q4 2017: 22.5 kt) supported by a 10% growth in ore throughput and improved copper recovery
    • Gold output increased by 29% to 36.0 koz (Q4 2017: 27.9 koz) due to higher gold grade and improved recovery rate
  • Aktogay
    • Copper production2 from sulphide ore increased by 9% to 21.1 kt (Q4 2017: 19.3 kt), benefitting from higher copper grade of 0.62% and recovery rate of 88%
    • Cathode production from oxide ore seasonally lower at 5.3 kt (Q4 2017: 6.7 kt), 13% above Q1 2017 
  • East Region and Bozymchak
    • Copper production2 16% lower at 14.0 kt (Q4 2017: 16.7 kt) due to planned idling of the Nikolayevsky concentrator, full year guidance of c.65 kt maintained
    • By-products in line with expectations, with zinc output rising 20% to 14.2 kt (Q4 2017: 11.8 kt)
  • Financial update
    • Net debt of $2,206 million at 31 March 2018
    • $250 million deferred from 2016-17 paid to Aktogay construction contractor in the quarter

 

Group production summary3   Q1 2018 Q4 2017 Q1 2017
Copper production1 kt 67.3 65.2 52.1
Bozshakol kt 26.9 22.5 22.9
Aktogay kt 26.4 26.0 11.9
East Region & Bozymchak kt 14.0 16.7 17.3
Zinc in concentrate kt 14.2 11.8 15.5
Gold production2 koz 49.9 40.9 42.6
Silver production2  koz 852 798 795
  1. Payable metal in concentrate and copper cathode from Aktogay oxide ore.
  2. Payable metal in concentrate.
  3. See appendix for metal production by asset.

 

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