Q3 2024 Production Report

KAZ MINERALS PRODUCTION AND SALES REPORT FOR NINE MONTHS AND THE THIRD QUARTER ENDED 30 September 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

• KAZ Minerals processed 72 Mt of ore in the first nine months of 2024, a 5% increase compared with the prior year comparative period (9m 2023: 68 Mt) and a record for the Group.
• Copper production in the period decreased to 287 kt (9m 2023: 301 kt) as the increased ore throughput only partially mitigated the expected reduction in grades at both Aktogay and Bozshakol.
• Gold, silver and zinc in concentrate by-product output reduced versus the prior year comparative period as mining at the East Region and Bozymchak took place in areas with lower polymetallic content.
• Copper sales of 295 kt were 3% higher than production as the Group sold finished goods inventories which were in transit at the end of the previous year.

Andrew Southam, Chief Executive Officer, said: “KAZ Minerals’ continued focus on maximising ore throughput enabled the concentrators at Aktogay, Bozshakol and Bozymchak to exceed design capacity, achieving record processing volumes in the first nine months of 2024. This excellent operational performance enabled the Group to produce 287 kt of copper in the period.”

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