Q2 Production Report 2019

KAZ MINERALS GROUP PRODUCTION REPORT FOR THE SECOND QUARTER ENDED 30 JUNE 2019

Highlights
  • H1 2019 copper production1 rose 6% to 147.6 kt (H1 2018: 139.6 kt)
  • Increased concentrator availability led to quarterly copper output1 of 77.6 kt (Q1 2019: 70.0 kt)
  • On track to achieve full year copper production1 guidance of c.300 kt
Aktogay
  • Copper production1 in first half 22% higher at 74.1 kt (H1 2018: 60.5 kt)
  • Record copper production1 in Q2 of 37.4 kt (Q1 2019: 36.7 kt) due to sustained high sulphide throughput and grades, and seasonally stronger oxide production
  • Production in H2 will be impacted by scheduled maintenance, full year copper production1 guidance maintained at 130-140 kt
Bozshakol
  • H1 2019 copper production2 of 47.1 kt (H1 2018: 49.8 kt) as higher recoveries and throughput in main sulphide plant offset lower average grade and clay plant upgrade works
  • Higher grades and increased processing of clay ore expected in the second half
  • Copper and gold guidance maintained at 105-115 kt and 130-140 koz
East Region and Bozymchak
  • Copper production2 in H1 2019 of 26.4 kt (H1 2018: 29.3 kt), with Q2 output increasing to 16.9 kt (Q1 2019: 9.5 kt) following the restart of the Nikolayevsky concentrator
  • Copper, gold and silver guidance maintained
  • Zinc in concentrate output of 12.2 kt (Q1 2019: 6.2 kt), full year guidance revised to 40-45 kt

 

Group production summary3

 

 6m 2019

6m 2018

Q2 2019

Q1 2019

Q2 2018

Copper production1

kt

  147.6  139.6

77.6

70.0

72.3

   Aktogay

kt

 74.1  60.5 

37.4

36.7

34.1

   Bozshakol

kt

 471  49.8 

23.3

23.8

22.9

   East Region & Bozymchak

kt

 26.4  29.3 

16.9

9.5

15.3

Zinc in concentrate

kt

 18.4  24.9 

12.2

6.2

10.7

Gold production2

koz

 87.7  89.8 

44.3

43.4

39.9

Silver production2

koz

 1,552  1,637 

926

626

785
  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.

 

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals’ second quarter copper production rose 11% to 78 kt due to increased concentrator availability and efficient operations across the Group’s mines. Aktogay achieved record copper production of over 37 kt in the quarter and at Bozshakol the clay plant returned to full capacity, with the Group well positioned to achieve its 2019 copper guidance of c.300 kt.”

For further information please contact:

KAZ Minerals PLC

 

 

Chris Bucknall

Investor Relations, London

Tel: +44 20 7901 7882

Anna Mallere

Investor Relations, London

Tel: +44 20 7901 7814

Maksut Zhapabayev

Corporate Communications, Almaty

Tel: +7 727 244 03 53

Brunswick Group

 

 

Carole Cable, Charlie Pretzlik

 

Tel: +44 20 7404 5959

REGISTERED OFFICE
6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL, United Kingdom.

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