Contractor Payment Deferral

KAZ Minerals PLC (“KAZ Minerals” or “the Group”) announces that it has reached agreement with its principal construction contractor, Non Ferrous China (“NFC”), to defer payment of $300 million relating to the Group’s Aktogay project. Under the revised terms, $300 million of construction costs which were scheduled to be paid in 2016 and 2017 will be settled in the first half of 2018. There is no change to the overall amount payable to NFC or the project budget of $2.3 billion. Aktogay remains on-track to commence production from oxide ore in 2015 and production from sulphide ore in 2017.

Oleg Novachuk, Chief Executive, said: “The deferral of $300 million to 2018 provides KAZ Minerals with additional liquidity during the construction and ramp up of Bozshakol and Aktogay. This agreement also demonstrates the strength of our relationship with NFC and continues our strong track record of securing support from our partners in China for these strategically important copper projects.”

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