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KAZ Minerals is one of the largest copper producers in Kazakhstan

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The Group has over 80 years of history in Kazakhstan

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KAZ Minerals seeks to become the leading natural resources company in Central Asia

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18.12.2025

Q3 2025 PRODUCTION REPORT

KAZ MINERALS GROUP PRODUCTION AND SALES REPORT FOR 9 months and THE third QUARTER ENDED 30 September 2025

 

 

 

9m
2025

9m
2024

 

Q3 2025

Q2 2025

Q3 2024

Copper production1

kt

 275.7

 287.0

 

 91.7

 93.6

 96.1

Aktogay

kt

 171.6

 172.2

 

 56.8

 58.8

 58.3

Bozshakol

kt

 70.7

 79.2

 

 23.1

 24.2

 25.8

East Region & Bozymchak

kt

 33.4

 35.6

 

 11.8

 10.6

 12.0

Gold production2

koz

 95.7

 110.9

 

 33.1

 31.6

 35.0

Silver production2

koz

 2,730

 2,750

 

 955

 891

 875

Zinc in concentrate

kt

 34.3

 31.3

 

 13.9

 11.1

 8.8

Copper sales3

kt

 252.8

 295.0

 

 76.8

 95.7

 91.9

Gold sales4

koz

 95.6

 120.4

 

 30.6

 32.3

 36.4

Silver sales4

koz

 2,716

 3,014

 

 853

 968

 1,126

Zinc in concentrate sales

kt

 35.9

 35.7

 

 15.4

 10.9

 10.4
  • Payable metal in concentrate and copper cathode from Aktogay oxide ore
  • Payable metal in concentrate
  • Payable metal in concentrate, toll processed metal and copper cathode from Aktogay oxide ore
  • Payable metal in concentrate and toll processed metal

Highlights

  • Aktogay and Bozshakol achieved record ore processing volumes in the first nine months of 2025, reflecting the Group’s focus on maximising throughput.
  • Copper output was 276 kt in the period to 30 September 2025, down 4% from 9m 2024 (287 kt) as higher throughput was offset by lower grades and recovery rates.
  • Zinc in concentrate rose 10% to 34 kt (9m 2024: 31 kt) as more polymetallic ore was processed at East Region. Precious metal output declined due to mining in lower-grade areas.
  • Copper sales of 253 kt were 8% below production, impacted by Q3 inventory build-up and short-term transit delays in September, which eased in October and November.

Andrei Tretyakov, Chief Executive Officer, said: “In 2025 KAZ Minerals has continued to set new records in ore throughput at Aktogay and Bozshakol, enabling the Group to produce 276 kt of copper in the first nine months of the year despite planned reductions in grades. Demand for copper remains strong, and KAZ Minerals is well positioned to supply reliable, responsibly produced copper to our customers while we continue to improve the performance and resilience of our operations.”

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