KAZ MINERALS GROUP PRODUCTION REPORT FOR THE FIRST QUARTER ENDED 31 MARCH 2019
Copper production1 of 70.0 kt (Q4 2018: 77.9 kt), 4% above prior year comparative period (Q1 2018: 67.3 kt) and on track to achieve 2019 guidance of c.300 kt
Higher copper output expected in remaining nine months of 2019 due to Bozshakol grade profile and increased processing at the Nikolayevsky and Bozshakol clay concentrators
Bozshakol and Aktogay sulphide concentrators achieved design ore throughput over the quarter
Record quarterly copper production1 of 36.7 kt (Q4 2018: 36.0 kt)
Sulphide ore throughput of 6,440 kt (Q4 2018: 5,512 kt) and increased copper recovery offset lower sulphide grade and seasonal variation in oxide production
On track to achieve full year copper production1 guidance for 2019 of 130-140 kt
Copper production2 of 23.8 kt (Q4 2018: 26.6 kt) as higher sulphide throughput of 6,315 kt (Q4 2018: 6,148 kt) was offset by mining of lower grade areas and clay plant downtime
Average copper grade in Q1 of 0.44%, full year 2019 average expected to be similar to the 0.48% grade processed in 2018 supporting full year copper guidance of 105-115 kt
Gold production2 of 30.0 koz (Q4 2018: 34.1 koz) following reduced clay ore processing in Q1, on track for full year guidance of 130-140 koz
East Region and Bozymchak
Copper production2 of 9.5 kt (Q4 2018: 15.3 kt) and zinc in concentrate output of 6.2 kt (Q4 2018: 11.4 kt), mainly due to lower processing volumes, as ore was stockpiled at Nikolayevsky for processing over the remainder of 2019
Gold production of 12.5 koz (Q4 2018: 14.0 koz), as lower East Region processing volumes were partially offset by increased output from the Bozymchak mine in Kyrgyzstan of 10.6 koz (Q4 2018: 9.6 koz)
Zinc in concentrate output in 2019 expected to be below guidance of c.50 kt, following low production in Q1
Full year production guidance maintained for copper, gold and silver with higher output expected in remaining three quarters of 2019
Group production summary3
East Region & Bozymchak
Zinc in concentrate
Payable metal in concentrate and copper cathode from Aktogay oxide ore.
Payable metal in concentrate.
See appendix for metal production by asset.
Andrew Southam, Chief Executive Officer, said: “The Aktogay and Bozshakol sulphide plants performed well during the winter period, with both achieving design ore throughput in the first quarter. Record processing volumes and increased recovery rates at Aktogay resulted in copper production of 37 kt, offsetting lower average grades and seasonal variation in oxide production. Higher output from Bozshakol and the East Region is expected over the remaining nine months of the year with the Group to deliver full year copper production of circa 300 kt.”
For further information please contact:
KAZ Minerals PLC
Investor Relations, London
Tel: +44 20 7901 7882
Investor Relations, London
Tel: +44 20 7901 7814
Corporate Communications, Almaty
Tel: +7 727 244 03 53
Carole Cable, Charlie Pretzlik
Tel: +44 20 7404 5959
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