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Bozshakol is a first quartile asset on the global cost curve with an annual ore processing design capacity of 30 million tonnes and a remaining mine life of around 40 years.
Ore mined at Bozshakol increased by 16% in 2023 to 33,338 kt (2022: 28,769 kt) as more ore was sent directly to the concentrators, rather than blending stockpiled material into the ore feed.
Both the sulphide and clay concentrators continued their strong performance in 2023. The combined ore throughput was 32,935 kt, the highest ever throughput performance at Bozshakol and 10% above the concentrators’ combined design capacity of 30 Mtpa. Despite the expected reduction in grades processed, the average copper recovery rate increased from 75% to 79%, benefiting from management initiatives to optimise the mine to mill process, ore blending and the reagents regime in the concentrators.
Copper production increased by 2% to 104.6 kt in 2023 (2022: 102.1 kt) benefiting from the record ore throughput and enhanced metal recovery rates. The majority of copper production was dispatched in the form of concentrate to customers in China, with 3.5 kt of copper in concentrate sent for toll processing at the Balkhash smelter in Kazakhstan, where capacity was available on attractive terms.
Gold output in 2023 decreased by 3% to 115.2 koz compared with prior year output of 119.1 koz, driven by an expected reduction in gold grades in the clay ore feed, after the plant processed ore with an elevated gold content in 2022. Silver production of 818 koz increased by 11% on the prior year (2022: 737 koz) primarily due to higher grades processed.
In 2024 the site is targeting full year copper production of around 100 kt, in line with 2023. Gold output of 110-120 koz is forecast, while silver production is expected to reduce to around 700 koz, adversely affected by the characteristics of the ore processed.
The board approved the development of the project on 25 August 2011. The site is located in North Kazakhstan, and is accessible by road and rail from the capital Astana. We started working from a greenfield site. This is the beginning of our journey.
Bozshakol is located close to existing major roads and a railway, which allowed us to complete ground work and build the initial site infrastructure in a short timeframe.
In 2012 we completed the water supply piping, and having received construction equipment, commenced the earthworks on site. We established an office building, built a temporary camp for the construction workforce, laid the foundations and commenced the erection of structural steel frames and walls for the main buildings, erected a roof beam on the grinding building and started the construction of the tailing thickeners walls.
In 2013 we finished most of the foundation works and most of the main buildings were enclosed. We also completed the steel structure of the accommodation building at the permanent camp, laid the foundation and erected the steel frames of the plant maintenance workshops and completed the main access road to permit transportation of the heavy equipment to the site. We delivered the first shipment of heavy equipment from Antwerp to Bozshakol with parts of ball mills and SAG mils to the site in the end of July 2013. We are almost 50% complete, and you can see the shape of the final project now.
In the first half of 2014 we completed the construction of the main concentrator building and the 220kV power line. During the autumn months we completed the construction of the permanent camp and the assembly of haul trucks and shovels for pre-production mining in Q1 2015. We also commenced installation of the mills and internal steel platforms in the grinding and flotation areas and started the construction of the overland ore conveyor. The project is due for commissioning in Q4 2015.
As of June 2015 we had completed all key sulphide concrete and steel works, non-process buildings, permanent camp, main access road and railroad, 220 kV power line and substation tie-in. Mining equipment including haul trucks, shovels and excavators were delivered and assembled and shells, heads and stators for all three mills were assembled. In the coming months we will be working on the installation of the primary crusher, the rougher and cleaner flotation cells and bulk material for underground piping and electrical works, installation and testing of ball and SAG mills and the construction of the clay plant. We started pre-production mining in June 2015 and the sulphide concentrator commenced commissioning in December 2015.
The project commenced production of saleable copper concentrate at the main sulphide concentrator in February 2016, with the first shipment made in March. Commissioning works at the clay plant commenced on 29 September 2016.
Operating Mine