Q1 2024 Production Report

KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR THE FIRST QUARTER ENDED 31 mARCH 2024 

^1. Payable metal in concentrate and copper cathode from Aktogay oxide ore
^2. Payable metal in concentrate
^3. Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
^4. Payable metal in concentrate and toll processed metal

Highlights

• Copper production of 94 kt in Q1 2024 decreased by 8% (Q4 2023: 102 kt) due to an expected decline in grades, partially offset by a 2% increase in quarterly ore throughput as management continued to focus on maximising operational performance.
• Copper sales of 103 kt were 9% above production as reduced sales shipment times resulted in a lower volume of materials in transit.
• The improved shipment times also enabled the Group to deliver an increase in the sale of all by-products compared with the previous quarter, despite the decrease in production.

Andrew Southam, Chief Executive Officer, said: “In the first quarter of 2024, KAZ Minerals continued to focus on maximising ore throughput, which increased by 2% and allowed the Group to deliver copper production of 94 kt. The Group’s strong operating performance means that it is well positioned to benefit from recent increases in copper prices.”

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