Smelter Scoping Study

KAZ Minerals PLC announces that it has signed an agreement with Baiyin Nonferrous Group Co., Ltd. (“Baiyin”) to jointly perform a scoping study on the construction of a copper smelter in Kazakhstan. The smelter would process copper concentrate from the Bozshakol and Aktogay mines.

Following the scoping study any decision to proceed with the construction of a smelter will be subject to further technical and economic evaluation and the availability of suitable financing.

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

Holding(s) in Company

 

 

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii

KAZ Minerals PLC

 

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

 

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

 

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

 

An event changing the breakdown of voting rights

 

Other (please specify):

A change in the chain of controlled undertakings through which voting rights are held

X

3. Full name of person(s) subject to the
notification obligation: iii

Vladislav Kim

4. Full name of shareholder(s)
 (if different from 3.):iv

Lynchwood Nominees Limited

5. Date of the transaction and date on
which the threshold is crossed or
reached: v

10 March 2015

6. Date on which issuer notified:

11 March 2015

7. Threshold(s) that is/are crossed or
reached: vi, vii

6%

         

 

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B0HZPV38

30,178,305

30,178,305

N/A

N/A

30,178,305

N/A

6.76%

 

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date xiii

Exercise/
Conversion Period xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

 

 

 

 

 

 

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period xviii

Number of voting rights instrument refers to

 

% of voting rights xix, xx

 

 

 

 

 

 

 

Nominal

Delta

 

 

 

Total (A+B+C)

Number of voting rights

Percentage of voting rights

30,178,305

6.76%

                                     

 

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

Lynchwood Nominees Limited holds 30,178,305 shares as a nominee on behalf of Falcon Private Bank Limited, which in turn holds the shares on behalf of Lafonda Invest PTE Ltd. Lafonda Invest PTE Ltd. is a wholly-owned subsidiary of Lafonda Holding PTE Ltd, the entire issued capital of which is beneficially owned and controlled by Vladislav Kim.

 

(Lafonda Invest PTE Ltd. acquired 30,178,305 shares from Lafonda Limited (which is a wholly-owned subsidiary of Sigiriya Ltd) on 10 March 2015. The entire issued share capital of Sigiriya Ltd is beneficially owned and controlled by Vladislav Kim).

 

Proxy Voting:

10. Name of the proxy holder:

 

11. Number of voting rights proxy holder will cease
to hold:

 

12. Date on which proxy holder will cease to hold
voting rights:

 

 

13. Additional information:

Vladislav Kim confirms that, other than the shareholding disclosed, he has no connection with KAZ Minerals PLC or any of its Directors.

14. Contact name:

Vladislav Kim

15. Contact telephone number:

+7(777) 300 3003

     


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

Total Voting Rights

In conformity with the Disclosure and Transparency Rules (“the Rules”), the Company 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 11,701,830 ordinary shares in treasury and the issued share capital of the Company which carries voting rights of one vote per share comprises 446,677,203 ordinary shares (excluding treasury shares).

The above figure of 446,677,203 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:

Stephen Hodges

Company Secretary

Tel: + 44 (0)20 7901 7832

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Preliminary Results 2014

KAZ MINERALS PLC AUDITED results for the year ENDED 31 December 2014 

  • Restructuring completed 31 October 2014
  • Disposal Assets transferred to Cuprum Holding
  • Company re-named KAZ Minerals PLC
  • Repositioned as a low cost, high growth copper miner
  • Operational highlights – continuing operations
  • Copper cathode production +9% to 83.5 kt, upper end of guidance (2013: 76.8 kt)
  • Silver and zinc by-products in line or ahead of guidance
  • First shipment of concentrate from Bozymchak copper-gold project
  • Financial highlights – continuing operations
  • EBITDA from continuing operations (excluding special items) $355 million (2013: $359 million), with cost measures offsetting lower revenues
  • H2 2014 net cash cost of 107 USc/lb benefiting from the tenge devaluation, strong cost management and zinc by-product credits
  • Balance sheet
  • Received $1.25 billion proceeds from sale of stake in Ekibastuz GRES-1
  • Refinanced PXF facility, fully drawn at $349 million
  • Year end net debt $962 million
  • Undrawn facilities of $798 million and gross funds of $2,130 million as at 31 December 2014
  • Major growth projects on track
  • Bozshakol expected to commence commissioning with limited production in the fourth quarter of 2015
  • Capital expenditure in 2014 $0.5 billion, remaining $0.9 billion to be spent in 2015
  • Aktogay oxide on course for production in the fourth quarter of 2015, sulphide in 2017
  • Capital expenditure $0.4 billion in 2014, expenditure in 2015 expected to be $0.5-$0.7 billion
  • Acquired Koksay, our third major growth project for total consideration of $260 million including $35 million deferred to 2015
  • 2015 outlook
  • 2015 copper cathode production guidance for East Region and Bozymchak 80-85 kt
  • By-product grades expected to be temporarily lower in East Region
  • 2015 gross cash cost guidance of 280–300 USc/lb for operating mines

Oleg Novachuk, CEO said: “2014 was a year of transformational change for the Group. We successfully completed our Restructuring in October 2014 and this has repositioned KAZ Minerals on the global cost curve, retaining a portfolio of first and second quartile operating and development assets. We are excited to be entering the final stages of the construction of Bozshakol, the first of our major growth projects, and continuing the development of Aktogay. We anticipate the copper market will return to deficit as we ramp up output from our major growth projects.”

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Appointment of John MacKenzie as an Independent Non-Executive Director

KAZ Minerals PLC (“KAZ Minerals”) today announces the appointment of John MacKenzie as an independent non-executive Director with effect from 1 March 2015. John will become a member of the Health, Safety and Environment Committee and the Projects Assurance Committee.

John is a senior mining executive with more than 23 years’ experience in the metals and mining sector acquired with the Anglo American group where he was CEO of Zinc from 2006 to 2009 and CEO of Copper from 2009 to 2013. Since 2013, John has been CEO of Mining at Audley Capital Advisors, identifying potential private equity opportunities in the mining sector. John brings extensive international operating experience to the Board, gained in Africa, South America, North America and Europe.

Simon Heale, non-executive Chairman, said: “I am pleased to welcome John MacKenzie to the Board at this important time for the Group following the recent Group restructuring. As the former CEO of Copper at Anglo American, John brings extensive experience of the copper mining industry and we look forward to him joining us.”

There are no further details that are required to be disclosed in respect of the appointment of John MacKenzie under LR9.6.13R of the Listing Rules of the UK Listing Authority.

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

Notice of Preliminary Results 2014

NOTICE OF PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2014

KAZ Minerals PLC will announce its preliminary results for the year ended 31 December 2014 on Thursday 26 February 2015 at 7.00am (UK time).

A presentation for analysts will be held in the Theatre at the London Stock Exchange, 10 Paternoster Square, London EC4M 7LS at 9.00am (UK time).

The presentation for analysts can also be accessed by conference call at 9.00am (UK time). The dial-in details are as follows:

Telephone: +44 (0) 20 3003 2666

Please quote the password: KAZ Minerals

A webcast of the presentation for analysts will also be available on the KAZ Minerals website (www.kazminerals.com).

Please follow the link to DOWNLOAD the full announcement

 

Total Voting Rights

In conformity with the Disclosure and Transparency Rules (“the Rules”), the Company 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 11,701,830 ordinary shares in treasury and the issued share capital of the Company which carries voting rights of one vote per share comprises 446,677,203 ordinary shares (excluding treasury shares).

The above figure of 446,677,203 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:

Stephen Hodges

Company Secretary

Tel: + 44 (0)20 7901 7832

Please follow the link to DOWNLOAD the full announcement