Q1 2021 Production Report

KAZ MINERALS GROUP Production Report for the first quarter Ended 31 march 2021

• Highlights
  • Group copper production¹ of 72.4 kt (Q4 2020: 75.7 kt), on track to achieve annual guidance of 275-295 kt
  • Gold production² of 39.9 koz (Q4 2020: 35.9 koz) as Bozymchak contributed for the full quarter following the restart of operations in December 2020
  • Net debt of $2,410 million (31 December 2020: $2,601 million) with $62 million of undrawn facilities and gross liquid funds of $1,298 million (31 December 2020: $1,299 million)
    
    
• Covid-19 update
  • Ensuring the safety, health and wellbeing of employees and contractors remains the Group’s priority
  • Comprehensive measures, including testing and isolation, remain in place to protect staff and mitigate the risk of disruption to operations
  • These measures ensured that there was no major impact to the Group’s operations in Q1 resulting from Covid-19, other than minor delays to shipments across the Kazakhstan-China border

• Aktogay
  • Q1 copper production¹ rose to 33.9 kt (Q4 2020: 31.9 kt) due to increased ore throughput and a higher average recovery rate
  • Copper cathode production from oxide ore decreased to 3.3 kt (Q4 2020: 4.6 kt) due to lower ambient temperatures and maintenance
    
    
• Bozshakol
  • Copper production² reduced to 26.3 kt (Q4 2020: 31.3 kt) due to a lower ore throughput as a result of maintenance at the concentrators combined with lower average grades and recovery rate
  • Gold production² of 26.2 koz (Q4 2020: 31.4 koz) impacted by reduced ore processed volumes and lower average
    grades and recovery rate
    
    
• East Region and Bozymchak
  • Copper production² of 12.2 kt (Q4 2020: 12.5 kt) as lower grade material was processed
  • Gold production² of 13.7 koz (Q4 2020: 4.5 koz) following the restart of operations at the Bozymchak mine
  • Silver production of 431 koz (Q4 2020: 362 koz) and zinc in concentrate output of 9.6 kt (Q4 2020: 10.2 kt)  

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.

Andrew Southam, Chief Executive Officer, said: “The Group has delivered another strong quarter, with copper production of 72 kt, and is on track to achieve the full year guidance for all metals.” 

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