Author: Fuel Integrated

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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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 11,505,933 ordinary shares in treasury and therefore the issued share capital of the Company which carries voting rights of one vote per share comprises 446,873,100 ordinary shares (excluding treasury shares).

The above figure of 446,873,100 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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Holding(s) in Company

Result of Annual General Meeting 2018

KAZ Minerals PLC (the ‘Company’) announces that at its Annual General Meeting held today, all the resolutions put to shareholders were duly passed on a poll. The poll results showing the number of votes received for and against each resolution are shown below. The poll results represent approximately 81.5% of the total number of 446,873,100 Ordinary Shares in issue which carry voting rights of one vote per share.

The votes cast on resolutions 3, 6, 8, 9 and 10, relating to the election or re-election of the independent non-executive Directors, have been calculated separately. These resolutions were duly passed by a majority of votes cast by both Independent Shareholders as well as by a majority of votes cast by all Shareholders. The result of the votes cast by the Independent Shareholders (marked with an **) and the votes cast by all Shareholders are set out below.

The Company currently holds 11,506,933 Ordinary Shares in treasury which do not carry voting rights.

Full details of the resolutions passed, together with explanatory notes, are set out in the Notice of Annual General Meeting which is available on the Company’s website.

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Total Voting Rights

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

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

The Company currently holds 11,506,933 ordinary shares in treasury and therefore the issued share capital of the Company which carries voting rights of one vote per share comprises 446,873,100 ordinary shares (excluding treasury shares).

The above figure of 446,873,100 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

PLEASE FOLLOW THE LINK TO DOWNLOAD THE FULL ANNOUNCEMENT 

 

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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Proposed Withdrawal of Listing

KAZ Minerals PLC announces that it proposes to withdraw the listing of its shares on the Hong Kong Stock Exchange (“HKEX”).

It is expected that the withdrawal of the listing of the shares on the HKEX will become effective at 9.00 am (Hong Kong time) on 1 August 2018.

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