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KAZ MINERALS GROUP Production Report for NINE months and THE THIRD QUARTER Ended 30 SEPTEMBER 2018
- Operational highlights
- Copper production1 increased by 7% to 77.2 kt (Q2 2018: 72.3 kt) with higher ore throughput at all assets, well positioned to achieve full year guidance of 270-300 kt
- Gold production2 in Q3 of 45.1 koz (Q2 2018: 39.9 koz), full year output expected to be at top end of 160-175 koz guidance range
- Bozshakol
- Copper production2 of 25.2 kt, an increase of 10% (Q2 2018: 22.9 kt), mainly due to higher ore throughput
- Ore processed in Q3 was at design throughput capacity (Q2 2018: 90%)
- On track for full year copper production guidance of 95-105 kt
- Gold production2 increased by 19% to 31.4 koz (Q2 2018: 26.3 koz) due to continued strong gold grades and increased ore throughput
- Aktogay
- Copper production1 increased by 2% to 34.9 kt (Q2 2018: 34.1 kt) mainly due to seasonally higher oxide output
- Full year copper production1 expected to be in upper half of 110-130 kt guidance range
- East Region and Bozymchak
- Copper production2 of 17.1 kt in Q3 (Q2 2018: 15.3 kt), on track for 2018 guidance of around 65 kt
- Gold production2 of 13.8 koz (Q2 2018: 13.6 koz) results in strong nine-month output of 41.0 koz, now likely to exceed full year guidance of 45-50 koz
- Low grades continue to impact zinc output, with 13.4 kt produced in Q3 (Q2 2018: 10.7 kt). Full year zinc in concentrate production expected to be 10-15% below guidance of c.60 kt
| Group production summary3 | 9m 2018 | 9m
2017 |
Q3 2018 | Q3 2018 | Q3 2017 | ||
|---|---|---|---|---|---|---|---|
| Copper production1 | kt | 216.8 | 193.3 | 77.2 | 72.3 | 75.3 | |
| Bozshakol | kt | 75.0 | 78.8 | 25.2 | 22.9 | 26.8 | |
| Aktogay | kt | 95.4 | 64.2 | 34.9 | 34.1 | 31.2 | |
| East Region & Bozymchak | kt | 46.4 | 50.3 | 17.1 | 15.3 | 17.3 | |
| Zinc in concentrate | kt | 38.3 | 45.8 | 13.4 | 10.7 | 13.5 | |
| Gold production2 | koz | 135.0 | 137.8 | 45.2 | 39.9 | 44.8 | |
| Silver production2 | koz | 2,578 | 2,708 | 941 | 785 | 952 |
- Payable metal in concentrate and copper cathode from Aktogay oxide ore.
- Payable metal in concentrate.
- See appendix for metal production by asset.
Andrew Southam, Chief Executive Officer, said: “In 2018 the Group delivered a smooth ramp up and benefited from high copper grades at its newest mine, Aktogay, with copper output 12% above the same period in 2017. Following a strong third quarter across KAZ Minerals’ assets we are well placed to achieve our full year copper production target and the top end of our gold and silver guidance.”