Month: June 2018

Total Voting Rights

In conformity with 5.6.1R of the Disclosure Guidance and Transparency Rules (“the Rules”), the Company hereby notifies the market of the following:

At the date of this announcement, the total issued share capital of the Company comprises 458,379,033 ordinary shares.

The Company currently holds 11,480,935 ordinary shares in treasury and therefore the issued share capital of the Company which carries voting rights of one vote per share comprises 446,898,098 ordinary shares (excluding treasury shares).

The above figure of 446,898,098 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Rules.

For further information please contact:

Susanna Freeman
Company Secretary
Tel: + 44 (0)20 7901 7826

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Report on Payments to Governments FY 2017

KAZ Minerals PLC (“KAZ Minerals” or “the Group”) today provides information in accordance with DTR4.3A and The Reports on Payments to Governments Regulations 2014 (the “Regulations”) in respect of payments made by the Group for the year ended 31 December 2017.

Payments to Governments

The table below represents the Group’s consolidated report on payments made to governments under the Regulations. The table includes all payments made in excess of £86,000 ($116,000) for activities related to the exploration, prospecting, discovery, development and extraction of minerals by project, government type and country, rounded to the nearest thousand US Dollars.

US$’000

Corporate income tax

Mineral Extraction Tax and Royalties(1)

Withholding tax

Signature bonus

Licence fee(2)

Infrastructure and social payments(3)

Total

KAZAKHSTAN

              

Artemyevsky – License

–

 15,708

–

 – –

–

 15,708

Irtyshsky – License

–

 11,574

–

–

 385 –

11,959

Orlovsky – License

–

26,098

 – –

–

–

26,098

Yubileyno-Snegirihinsky – License

–

2,347

–

 –

156

 – 2,503

Legal entity

 42,620

– 

 –

–

 –

3,863

 46,775

Total East Region

 42,620

55,727

292

 – 541 3,863

103,043

Aktogay license and legal entity

 11,659 33,441 13,075

–

806

601 

 59,582

Bozshakol license and legal entity

7,403

94,021

 34,158

–

 157

5,896

141,635

Koksay license and legal entity

 –

–

 –

–

–

– 

– 

Other legal entities

 168

128

–

 –

–

–

296
 

61,850

 183,317 47,525 –

1,504

 10,360

304,556

RECIPIENT

              

State Revenue Committee

61,850

 183,317

47,525

 – 698 –

293,390 

Local Authorities

–

 – – – 806

10,360

11,165
  61,850

183,317

47,525

 –

1,504

 10,360

304,556 
               

KYRGYZSTAN

              

Bozymchak licence and legal entity

– 

6,110 

 1,019

–

–

– 

7,129

RECIPIENT

              

State Tax Administration (central government)

–

5,176 

1,019

 – –

– 

 6,195

Local Authorities

–

 934 

–

 – – –

934
 

–

6,110

1,019

 –

–

–

 7,129
               

Payments to Governments

61,850

 189,427 48,544 – 1,504 10,360 311,685
  1. The Mineral Extraction Tax is payable in Kazakhstan on the value of the mineral resources extracted based on the average price of the minerals on the London Metal Exchange or at the London Bullion Market Association. Royalties are paid by Bozymchak on sold metal.
  2. Payments made as required under subsoil use license.
  3. Infrastructure and social payments of $10.4 million made in Kazakhstan represent payments made to bodies, associations, trusts and other public interest groups located in the regions in which the Group operates. These payments include the transfer of assets at their book value, which the Group regards as infrastructure and social payments, as these benefit local communities.

 

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Holding(s) in Company

Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities or Connected Persons

Koksay Project Investment by NFC

KAZ Minerals PLC (“KAZ Minerals” or the “Group”) announces an agreement to invest $70 million into the Group’s Koksay project by China Nonferrous Metal Industry’s Foreign Engineering and Construction Company Ltd (“Non Ferrous China” or “NFC”). Following the $70 million investment, which is subject to certain conditions precedent including regulatory approvals in Kazakhstan and China, NFC will hold a 19.4% stake in the Koksay project.

Koksay is a potential open pit copper mine development project in Kazakhstan, located around 230 kilometres from Almaty. The deposit has a mineral resource1 of 736 Mt at an average copper grade of 0.42%, with contained copper of 3.1 Mt.

The $70 million to be invested into the project entity by NFC will be ring-fenced for the development of Koksay, including a feasibility study which will determine the detailed design for mining and processing operations and the associated capital budget. The Board will review the results of the feasibility study to assess how and when to proceed with the project.

Oleg Novachuk, Chair, said: “We are pleased to welcome NFC as a partner in the Koksay project. We worked successfully with NFC in the construction of Bozshakol and Aktogay and we are looking forward to developing our relationship further as we assess this opportunity in Kazakhstan.”

1 Measured, indicated and inferred resources at 31 December 2017.

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