TIDMKAZ
RNS Number : 2095M
KAZ Minerals PLC
27 July 2017
KAZ MINERALS
PLC
6(TH) FLOOR
CARDINAL PLACE
100 VICTORIA
STREET
LONDON SW1E 5JL
Tel: +44 (0)
20 7901 7800
==================
27 July 2017
KAZ MINERALS GROUP Production Report for six months and THE
second QUARTER Ended 30 June 2017
l H1 2017 copper production(1) more than doubled to 118 kt (H1
2016: 56 kt), on track for full year guidance of 225-260 kt
l Ramp up of new operations continues to deliver quarterly
growth in copper production, Q2 2017: 66 kt (Q1 2017: 52 kt)
l Strong first half gold output of 93 koz (H1 2016: 45 koz)
l Bozshakol on track to achieve 2017 copper guidance and top end
of gold guidance
-- H1 2017 copper production(2) of 52 kt (H1 2016: 10 kt) and
gold production(2) of 63 koz (H1 2016: 12 koz), lower gold grades
expected in H2
-- Sulphide plant at 93% of design ore throughput in Q2, full
capacity expected in H2 2017
-- Clay plant continuing to ramp up in line with expectations,
ore throughput at 69% in Q2
l Aktogay ramp up progressing well
-- Copper production(1) of 33 kt in H1 2017 (H1 2016: 5 kt)
-- Sulphide copper production(2) increased to 15 kt in Q2 (Q1
2017: 7 kt)
-- Concentrator ramping up faster than Bozshakol due to
experience gained at identical operations and benefit of high grade
supergene ore
-- On course to achieve 2017 guidance of 65-85 kt as
concentrator ramps up to commercial levels in H2
l East Region and Bozymchak on track for copper production
target
-- Copper production(2) of 33 kt in H1 2017 (H1 2016: 41 kt)
-- H1 zinc in concentrate production of 32 kt (H1 2016: 40
kt)
-- Full year gold and silver production expected to be towards
the upper end of guidance
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
(2) Payable metal in concentrate.
Oleg Novachuk, Chief Executive, said: "I am pleased to report
good progress in the ramp up of the new sulphide concentrator at
Aktogay and a strong operational performance from our other assets.
At Bozshakol, we expect to achieve 100% of design capacity in the
second half of this year as planned. The operational performance
has had a positive impact on unit costs supported by limited
domestic inflation, with Aktogay and the East Region currently
tracking below the guided full year cost range."
For further information please contact:
KAZ Minerals
PLC
==================== ========================== =================
Chris Bucknall Investor Relations, Tel: +44 20 7901
London 7882
Investor Relations, Tel: +44 20 7901
Anna Mallere London 7814
Maksut Zhapabayev Corporate Communications, Tel: +7 727 244
Almaty 03 53
==================== ========================== =================
Instinctif Partners
==================== ========================== =================
Tel: +44 20 7457
David Simonson 2020
==================== ========================== =================
REGISTERED OFFICE
6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL,
United Kingdom.
NOTES TO EDITORS
KAZ Minerals PLC ("KAZ Minerals" or "the Group") is a high
growth copper company focused on large scale, low cost, open pit
mining in Kazakhstan. It operates the Bozshakol and Aktogay open
pit copper mines in the Pavlodar and East regions of Kazakhstan,
three underground mines and associated concentrators in the East
Region of Kazakhstan and the Bozymchak copper-gold mine in
Kyrgyzstan. In 2016, total copper cathode equivalent output was 140
kt with by-products of 75 kt of zinc in concentrate, 120 koz of
gold bar equivalent and 3,103 koz of silver bar equivalent.
The Group's new operations at Bozshakol and Aktogay are
delivering one of the highest growth rates in the industry and
transforming KAZ Minerals into a company dominated by world class,
open pit copper mines.
Bozshakol is a first quartile asset on the global cost curve and
will have an annual ore processing capacity of 30 million tonnes
when fully ramped up and a mine life of 40 years at a copper grade
of 0.36%. The mine and processing facilities will produce an
average of 100 kt of copper cathode equivalent and 120 koz of gold
in concentrate per year over the first 10 years of operations.
Aktogay is a large scale, open pit mine similar to Bozshakol,
with a mine life of more than 50 years and average copper grades of
0.37% (oxide) and 0.33% (sulphide). Aktogay commenced production of
copper cathode from oxide ore in December 2015 and copper in
concentrate production from sulphide ore commenced in February
2017. The sulphide concentrator will have an annual ore processing
capacity of 25 million tonnes when fully ramped up. Aktogay is
competitively positioned on the global cost curve and will produce
an average of 90 kt of copper cathode equivalent from sulphide ore
and 20 kt of copper cathode from oxide ore per year over the first
10 years of operations.
KAZ Minerals is listed on the London Stock Exchange, the
Kazakhstan Stock Exchange and the Hong Kong Stock Exchange and
employs around 13,000 people, principally in Kazakhstan.
This announcement contains inside information.
GROUP PRODUCTION SUMMARY
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
================================== ======= ======= ======= ======== =======
Ore extraction kt 34,421 22,099 17,537 16,884 11,494
============================ ===== ======= ======= ======= ======== =======
Ore processed kt 18,229 4,748 10,529 7,700 3,230
============================ ===== ======= ======= ======= ======== =======
Average copper
grade processed % 0.76 1.28 0.73 0.80 1.09
============================ ===== ======= ======= ======= ======== =======
Ore to leach pads kt 8,297 8,679 4,084 4,213 4,319
============================ ===== ======= ======= ======= ======== =======
Copper production(1) kt 118.0 56.3 65.9 52.1 33.6
============================ ===== ======= ======= ======= ======== =======
Bozshakol kt 52.0 10.1 29.1 22.9 9.1
============================ ===== ======= ======= ======= ======== =======
Aktogay sulphide kt 22.6 - 15.4 7.2 -
============================ ===== ======= ======= ======= ======== =======
Aktogay oxide kt 10.4 5.4 5.7 4.7 3.9
============================ ===== ======= ======= ======= ======== =======
East Region & Bozymchak kt 33.0 40.8 15.7 17.3 20.6
============================ ===== ======= ======= ======= ======== =======
Zinc in concentrate kt 32.3 39.6 16.8 15.5 19.7
============================ ===== ======= ======= ======= ======== =======
Gold production(2) koz 93.0 45.1 50.4 42.6(3) 27.4
============================ ===== ======= ======= ======= ======== =======
Silver production(2) koz 1,756 1,560 961 795(3) 854
============================ ===== ======= ======= ======= ======== =======
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
(2) Payable metal in concentrate.
(3) Restated to include silver and gold production from
Aktogay.
Copper production in H1 2017 increased by 110% to 118.0 kt from
56.3 kt in H1 2016, as Bozshakol and Aktogay raised ore throughput
levels. Aktogay output benefited from the processing of higher
grade sulphide material from a supergene enriched level at the top
of the ore body. Copper production in Q2 2017 of 65.9 kt was 26%
higher than Q1 2017 as both the new open pit mines raised
output.
Ore extraction increased by 56% in H1 2017 compared to the prior
year period, to 34.4 million tonnes (H1 2016: 22.1 million tonnes),
in line with increased processing at Bozshakol and Aktogay.
Ore processed increased by 3.8 times in H1 2017 compared to the
prior year period and processing volumes in Q2 2017 were 37% higher
than the previous quarter due to rising throughput at the Bozshakol
and the Aktogay sulphide concentrators, with Aktogay operating for
its first full quarter. 34.4 million tonnes of ore were extracted
in H1 2017, with 8.3 million tonnes of oxide ore placed on leach
pads at Aktogay, 9.0 million tonnes of clay ore stockpiled at
Bozshakol and the remainder processed through the Group's sulphide
concentrators.
The average copper grade processed of 0.76% in H1 2017 compares
to a grade of 1.28% in H1 2016, when the majority of the Group's
production came from the higher grade underground mines in the East
Region. The grade of ore processed decreased from 0.80% in Q1 2017
to 0.73% in Q2 2017 as the proportion of ore processed at Bozshakol
increased, with a grade of 0.56%.
Zinc in concentrate output of 32.3 kt in H1 2017 was 18% below
the prior year period following the closure of the
Yubileyno-Snegirikhinsky mine at the end of 2016 and the six day
week adopted at Orlovsky from H2 2016. Zinc in concentrate output
of 16.8 kt in Q2 2017 increased by 8% compared to the prior quarter
as zinc grades recovered from temporarily lower levels at
Artemyevsky.
Gold production in H1 2017 increased to 93.0 koz, double the
prior year period due to the ramp up of Bozshakol. Higher output
from Bozshakol also drove an 18% increase in Q2 production to 50.4
koz, compared to 42.6 koz in Q1 2017. The material extracted in H1
2017 at Bozshakol had a higher than anticipated gold grade which is
expected to decline from July 2017.
Silver production increased to 1,756 koz in H1 2017 from 1,560
in H1 2016, mainly due to the ramp up of Bozshakol. In Q2 2017,
silver output grew to 961 koz from 795 koz in Q1 2017 as grades
increased in the East Region and due to a higher contribution from
Bozshakol.
BOZSHAKOL
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
=============================== ======= ======= ====== ====== ======
Ore extraction kt 19,426 11,016 9,522 9,904 6,007
========================= ===== ======= ======= ====== ====== ======
Sulphide kt 9,033 4,569 4,778 4,255 3,015
========================= ===== ======= ======= ====== ====== ======
Clay kt 10,393 6,447 4,744 5,649 2,992
========================= ===== ======= ======= ====== ====== ======
Ore processed kt 11,690 2,290 6,630 5,060 1,989
========================= ===== ======= ======= ====== ====== ======
Copper
================================ ======= ======= ====== ====== ======
Average copper
grade processed % 0.56 0.56 0.56 0.57 0.57
========================= ===== ======= ======= ====== ====== ======
Copper in ore processed kt 65.6 12.8 37.0 28.6 11.3
========================= ===== ======= ======= ====== ====== ======
Copper recovery
rate % 83.0 82.4 82.4 83.7 83.9
========================= ===== ======= ======= ====== ====== ======
Copper in concentrate kt 54.4 10.6 30.4 24.0 9.5
========================= ===== ======= ======= ====== ====== ======
Copper production(1) kt 52.0 10.1 29.1 22.9 9.1
========================= ===== ======= ======= ====== ====== ======
Gold
================================ ======= ======= ====== ====== ======
Average gold grade
processed g/t 0.31 0.29 0.29 0.33 0.29
========================= ===== ======= ======= ====== ====== ======
Gold recovery rate % 58.5 60.4 59.3 57.6 62.5
========================= ===== ======= ======= ====== ====== ======
Gold in concentrate koz 67.2 13.0 36.7 30.5 11.7
========================= ===== ======= ======= ====== ====== ======
Gold production(1) koz 62.9 12.3 34.4 28.5 11.1
========================= ===== ======= ======= ====== ====== ======
Silver production(1) koz 361 58 200 161 51
========================= ===== ======= ======= ====== ====== ======
(1) Payable metal in concentrate.
Ore extraction at Bozshakol of 19.4 million tonnes was 76%
higher in H1 2017 than the prior year period when the sulphide
concentrator was in the early stages of commissioning. Ore
extraction in Q2 2017 reduced by 4% compared to the previous
quarter, to 9.5 million tonnes (Q1 2017: 9.9 million tonnes), as
0.9 million tonnes less clay bearing material was mined. Sulphide
mining volumes in Q2 2017 continued to increase to support the ramp
up of the main concentrator.
Ore processing volumes in H1 2017 of 11.7 million tonnes were
significantly above the prior year period when the sulphide plant
was in the early stages of commissioning and the clay plant was not
yet in operation. In Q2 2017, ore processing volumes increased by
31% compared to the previous quarter, to 6.6 million tonnes, as the
main sulphide concentrator increased throughput levels to 93% of
design capacity from 74% in Q1 2017, partly assisted by less
downtime for scheduled maintenance. The clay plant increased ore
throughput to 69% of capacity in Q2 2017 compared to 40% in Q1
2017. The ramp up of both concentrators is proceeding in line with
expectations and Bozshakol remains on track to achieve full design
capacity in the second half of 2017.
In line with the increase in processing volumes, copper
production(1) in H1 of 52.0 kt was more than five times higher than
the prior year period, with the copper grade remaining constant at
0.56% and recovery rates increasing slightly to 83.0% (H1 2016:
82.4%). In Q2 2017, copper production(1) increased by 27% to 29.1
kt from 22.9 kt in the prior quarter, driven by increased
throughput at both processing plants. Copper recovery rates in Q2
2017 decreased slightly to 82.4% from 83.7% in the previous
quarter, mainly due to the increased contribution from the clay
plant which is at an earlier stage of ramp up compared to the main
sulphide concentrator. The clay plant processed 862 kt of ore in Q2
2017 with a recovery rate of 78.8%, compared to 495 kt processed in
Q1 2017 at a recovery rate of 75.5%.
Consistent with copper, gold production also increased
significantly compared to the prior year period with output of 62.9
koz in H1 2017. In Q2 2017, gold production increased to 34.4 koz
from 28.5 koz in Q1 2017 following the higher volume of ore
processed. The grade of gold in ore processed remained elevated at
0.29 g/t in Q2 2017, although this was lower than the 0.33 g/t
grade processed in the prior quarter.
Silver production in H1 2017 increased compared to the prior
year period and was 200 koz in Q2 2017, up from 161 koz in Q1 2017,
reflecting the ramp up in processing volumes and improving silver
recovery rates.
During H1 2017, 7.5 kt of copper in concentrate was sent for
toll processing at the Balkhash smelter in Kazakhstan, where
additional capacity on attractive terms was available for Bozshakol
concentrate.
Following first half copper production of 52.0 kt, Bozshakol is
on track to achieve 2017 guidance of 95-110 kt. Gold production of
62.9 koz in the first six months has been assisted by the
extraction of higher gold content material. The gold content of
material extracted fell somewhat in Q2 2017 and continued to reduce
in July 2017. However, it is now expected that Bozshakol gold
output will be towards the upper end of the full year guidance
range of 85-110 koz.
AKTOGAY
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
============================== ======= ====== ====== ====== ======
Ore extraction kt 13,022 8,679 7,003 6,019 4,319
========================= ==== ======= ====== ====== ====== ======
Oxide kt 8,297 8,679 4,084 4,213 4,319
========================= ==== ======= ====== ====== ====== ======
Sulphide kt 4,725 - 2,919 1,806 -
========================= ==== ======= ====== ====== ====== ======
Oxide
=============================== ======= ====== ====== ====== ======
Oxide ore to leach
pads kt 8,297 8,679 4,084 4,213 4,319
========================= ==== ======= ====== ====== ====== ======
Grade % 0.42 0.41 0.39 0.44 0.44
========================= ==== ======= ====== ====== ====== ======
Copper cathode kt 10.4 5.4 5.7 4.7 3.9
========================= ==== ======= ====== ====== ====== ======
Sulphide
=============================== ======= ====== ====== ====== ======
Sulphide ore processed kt 4,574 - 2,937 1,637 -
========================= ==== ======= ====== ====== ====== ======
Average grade processed % 0.75 - 0.72 0.80 -
========================= ==== ======= ====== ====== ====== ======
Recovery rate % 69.3 - 76.5 57.7 -
========================= ==== ======= ====== ====== ====== ======
Copper in concentrate kt 23.7 - 16.2 7.5 -
========================= ==== ======= ====== ====== ====== ======
Copper production(1) kt 22.6 - 15.4 7.2 -
========================= ==== ======= ====== ====== ====== ======
Total copper production kt 33.0 5.4 21.1 11.9 3.9
========================= ==== ======= ====== ====== ====== ======
(1) Payable metal in concentrate.
The results for H1 2017 include output from the Aktogay sulphide
plant which recorded its initial production in February 2017 and
the cathodes from the oxide plant. Together the assets contributed
copper production of 33.0 kt in H1 2017.
With cathode production from oxide at Aktogay now fully ramped
up, the mining of oxide ore was stable at 8.3 million tonnes in H1
2017, representing a small decrease of 4% compared to H1 2016.
Copper cathode output increased to 10.4 kt, compared to 5.4 kt in
H1 2016 when the SX/EW facility was in the early stages of ramp up.
Q2 2017 cathode production increased to 5.7 kt from 4.7 kt in the
previous quarter, as the seasonal effect of higher temperatures
resulted in improved output. Copper cathode production from oxide
ore remains on track to achieve guidance of around 20 kt in
2017.
The sulphide concentrator completed its first full quarter of
operations in Q2 2017 after commencing production midway through Q1
2017, achieving an ore throughput level of 47% of design capacity,
ahead of the 32% of ore throughput achieved by Bozshakol in Q2
2016. The commissioning of the Aktogay sulphide concentrator led to
mined volumes increasing by 62% to 2.9 million tonnes in Q2 2017
compared to 1.8 million tonnes in the previous quarter and
processing increasing by 79% to 2.9 million tonnes.
The average copper grade of sulphide ore processed at Aktogay
continued at an elevated level of 0.72% in Q2 2017, above
expectations, due to the mining of a layer of supergene enriched
ore. As mining operations continue over the remainder of the year
the proportion of supergene enriched ore processed of overall
volumes is expected to reduce and the average grade will therefore
decline from the current level.
In H1 2017, 5.4 kt of copper in concentrate was dispatched for
toll processing at the Balkhash smelter in Kazakhstan, with the
remaining concentrate output exported to China based smelters.
Assisted by high grades and a full quarter of operations, copper
production from sulphide ore increased to 15.4 kt in Q2 2017
compared to 7.2 kt from six weeks of operations in the prior
quarter. With 33 kt of copper production delivered in the first
half and further progress in throughput ramp up in the second half
expected to offset lower grades, Aktogay is now well placed to
achieve the 2017 guidance of 65-85 kt, consisting of around 20 kt
from oxide ore and 45-65 kt from sulphide ore.
EAST REGION & BOZYMCHAK
Copper
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
====================================== ======= ====== ====== ====== ======
Ore extraction kt 1,973 2,404 1,012 961 1,168
============================== ======= ======= ====== ====== ====== ======
Ore processed kt 1,965 2,458 962 1,003 1,241
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator kt 546 682 270 276 339
============================== ======= ======= ====== ====== ====== ======
grade
(%) 3.72 3.50 3.57 3.87 3.51
====================================== ======= ====== ====== ====== ======
Nikolayevsky concentrator kt 594 908 275 319 474
============================== ======= ======= ====== ====== ====== ======
grade
(%) 1.50 1.57 1.47 1.52 1.54
====================================== ======= ====== ====== ====== ======
Belousovsky concentrator kt 317 336 162 155 163
============================== ======= ======= ====== ====== ====== ======
grade
(%) 1.56 1.53 1.62 1.50 1.50
====================================== ======= ====== ====== ====== ======
Bozymchak concentrator kt 508 532 255 253 265
============================== ======= ======= ====== ====== ====== ======
grade
(%) 0.90 0.86 0.89 0.90 0.87
====================================== ======= ====== ====== ====== ======
Average grade processed % 1.97 1.95 1.93 2.01 1.93
============================== ======= ======= ====== ====== ====== ======
Average recovery
rate % 90.2 89.3 89.2 91.0 89.3
============================== ======= ======= ====== ====== ====== ======
Copper in concentrate kt 34.9 42.7 16.6 18.3 21.4
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator kt 18.5 21.4 8.7 9.8 10.7
============================== ======= ======= ====== ====== ====== ======
Nikolayevsky concentrator kt 8.0 12.7 3.6 4.4 6.5
============================== ======= ======= ====== ====== ====== ======
Belousovsky concentrator kt 4.4 4.4 2.3 2.1 2.1
============================== ======= ======= ====== ====== ====== ======
Bozymchak concentrator kt 4.0 4.2 2.0 2.0 2.1
============================== ======= ======= ====== ====== ====== ======
Copper production(1) kt 33.0 40.8 15.7 17.3 20.6
============================== ======= ======= ====== ====== ====== ======
(1) Payable metal in concentrate.
Copper production in the East Region and Bozymchak reduced by
19% to 33.0 kt in H1 2017, compared to 40.8 kt in H1 2016, due to
the closure of the Yubileyno-Snegirikhinsky mine at the end of 2016
and the adoption of a six day week at Orlovsky from H2 2016 to
allow for ventilation maintenance. Bozymchak operated at design
capacity throughout the first half of 2017.
Copper production decreased by 9% in Q2 2017 compared to the
previous quarter, to 15.7 kt (Q1 2017: 17.3 kt) as a result of
lower output from the Orlovsky and Nikolayevsky concentrators. The
copper grade of ore processed at Orlovsky was temporarily elevated
in Q1 2017 at 3.87% and was 3.57% in Q2, while the processing feed
grade also reduced at Nikolayevsky. Production in Q1 2017 at
Nikolayevsky was supported by the processing of 80 kt of ore (1.1
kt copper production) from the closed Yubileyno-Snegirikhinsky
mine, with minimal volumes processed in Q2 2017.
By-products
6m 6m Q2 Q1 Q2
Zinc 2017 2016 2017 2017 2016
================================ ======= ====== ====== ====== ======
Zinc bearing ore
processed kt 1,457 1,926 707 750 976
========================= ===== ======= ====== ====== ====== ======
Average grade processed % 3.07 2.89 3.27 2.89 2.82
========================= ===== ======= ====== ====== ====== ======
Average recovery
rate % 72.2 71.0 72.7 71.8 71.6
========================= ===== ======= ====== ====== ====== ======
Zinc in concentrate kt 32.3 39.6 16.8 15.5 19.7
========================= ===== ======= ====== ====== ====== ======
Gold
================================ ======= ====== ====== ====== ======
Gold bearing ore
processed kt 1,965 2,458 962 1,003 1,241
========================= ===== ======= ====== ====== ====== ======
Average grade processed g/t 0.82 0.81 0.87 0.78 0.81
========================= ===== ======= ====== ====== ====== ======
Average recovery
rate % 60.8 54.5 62.3 59.2 53.6
========================= ===== ======= ====== ====== ====== ======
Gold in concentrate koz 31.6 34.8 16.7 14.9 17.3
========================= ===== ======= ====== ====== ====== ======
Gold production(1) koz 29.7 32.8 15.7 14.0 16.3
========================= ===== ======= ====== ====== ====== ======
Silver
================================ ======= ====== ====== ====== ======
Silver bearing
ore processed kt 1,965 2,458 962 1,003 1,241
========================= ===== ======= ====== ====== ====== ======
Average grade processed g/t 35.9 37.3 40.3 31.6 38.2
========================= ===== ======= ====== ====== ====== ======
Average recovery
rate % 62.2 55.0 60.5 64.2 56.1
========================= ===== ======= ====== ====== ====== ======
Silver in concentrate koz 1,409 1,622 754 655 854
========================= ===== ======= ====== ====== ====== ======
Silver production(1) koz 1,282 1,502 686 596 803
========================= ===== ======= ====== ====== ====== ======
(1) Payable metal in concentrate.
In line with expectations, by-product output in the East Region
and Bozymchak was lower in H1 2017 compared to the prior year
period due to the closure of the Yubileyno-Snegirikhinsky mine at
the end of 2016 and the introduction of the six day week at
Orlovsky from H2 2016.
Zinc in concentrate output reduced by 18% to 32.3 koz in H1 2017
(H1 2016: 39.6 koz), with the reduction in ore processing volumes
only partially offset by higher grades and recovery rates. In Q2
2017, zinc in concentrate output increased by 8% to 16.8 kt (Q1
2017: 15.5 kt) with grades recovering following the mining of low
grade sections at the Artemyevsky mine at the start of the
year.
H1 2017 gold output decreased to 29.7 koz, a 9% reduction
compared to H1 2016 due to lower ore processing volumes. Gold
output was less impacted than zinc and silver by the reduction of
processing volumes in the East Region as the majority of production
is supplied by Bozymchak, where production reduced by only 5% to
20.9 koz (H1 2016: 22.0 koz). Ore volumes at Bozymchak were 4.5%
lower in H1 2017 compared to H1 2016 and the gold grade of ore
processed reduced slightly from 1.69 to 1.66 g/t, in line with the
mine plan.
Silver production in H1 2017 of 1,282 koz represents a reduction
of 15% compared to H1 2016 due to lower ore processing volumes in
the East Region. Q2 2017 output grew to 686 koz from 596 koz in Q1
2017 as silver processing grades increased to 40.3 g/t from 31.6
g/t.
Strong gold and silver output in the year to date should result
in output from the East Region and Bozymchak being towards the
upper end of the 50-60 koz gold and 2,250-2,500 koz silver ranges
for 2017. Achieving full year zinc in concentrate production of
70-75 kt is dependent on the confirmation of higher zinc grades in
the second half of the year.
APPIX - GROUP PRODUCTION SUMMARY
Copper mining & processing
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
============================== ======== ======= ======== ======= =======
Ore extraction kt 34,421 22,099 17,537 16,884 11,494
========================= ==== ======== ======= ======== ======= =======
Bozshakol kt 19,426 11,016 9,522 9,904 6,007
========================= ==== ======== ======= ======== ======= =======
Aktogay kt 13,022 8,679 7,003 6,019 4,319
========================= ==== ======== ======= ======== ======= =======
East Region kt 1,503 1,904 777 726 952
========================= ==== ======== ======= ======== ======= =======
Bozymchak kt 470 500 235 235 216
========================= ==== ======== ======= ======== ======= =======
Average grade mined % 0.64 0.65 0.61 0.66 0.66
========================= ==== ======== ======= ======== ======= =======
Copper in ore mined kt 218.7 144.6 107.7 111.0 75.9
========================= ==== ======== ======= ======== ======= =======
Ore processed kt 18,229 4,748 10,529 7,700 3,230
========================= ==== ======== ======= ======== ======= =======
Bozshakol kt 11,690 2,290 6,630 5,060 1,989
========================= ==== ======== ======= ======== ======= =======
Aktogay (sulphide) kt 4,574 - 2,937 1,637 -
========================= ==== ======== ======= ======== ======= =======
East Region kt 1,457 1,926 707 750 976
========================= ==== ======== ======= ======== ======= =======
Bozymchak kt 508 532 255 253 265
========================= ==== ======== ======= ======== ======= =======
Average grade processed % 0.76 1.28 0.73 0.80 1.09
========================= ==== ======== ======= ======== ======= =======
Bozshakol % 0.56 0.56 0.56 0.57 0.57
========================= ==== ======== ======= ======== ======= =======
Aktogay (sulphide) % 0.75 - 0.72 0.80 -
========================= ==== ======== ======= ======== ======= =======
East Region % 2.34 2.24 2.31 2.38 2.22
========================= ==== ======== ======= ======== ======= =======
Bozymchak % 0.90 0.86 0.89 0.90 0.87
========================= ==== ======== ======= ======== ======= =======
Copper in ore processed kt 138.5 60.7 76.7 61.8 35.3
========================= ==== ======== ======= ======== ======= =======
Bozshakol kt 65.6 12.8 37.0 28.6 11.3
========================= ==== ======== ======= ======== ======= =======
Aktogay (sulphide) kt 34.2 - 21.2 13.0 -
========================= ==== ======== ======= ======== ======= =======
East Region kt 34.2 43.3 16.3 17.9 21.7
========================= ==== ======== ======= ======== ======= =======
Bozymchak kt 4.5 4.6 2.2 2.3 2.3
========================= ==== ======== ======= ======== ======= =======
Average recovery
rate % 81.6 87.8 82.4 80.6 87.6
========================= ==== ======== ======= ======== ======= =======
Bozshakol % 83.0 82.4 82.4 83.7 83.9
========================= ==== ======== ======= ======== ======= =======
Aktogay (sulphide) % 69.3 - 76.5 57.7 -
========================= ==== ======== ======= ======== ======= =======
East Region % 90.3 89.1 89.3 91.2 89.2
========================= ==== ======== ======= ======== ======= =======
Bozymchak % 89.1 91.0 88.6 89.6 90.4
========================= ==== ======== ======= ======== ======= =======
Aktogay oxide ore
to leach pads kt 8,297 8,679 4,084 4,213 4,319
========================= ==== ======== ======= ======== ======= =======
Grade % 0.42 0.41 0.39 0.44 0.44
========================= ==== ======== ======= ======== ======= =======
Copper production
6m 6m Q2 Q1 Q2
Bozshakol 2017 2016 2017 2017 2016
================================= ======= ====== ======= ====== ======
Copper concentrate kt 243.7 45.2 136.5 107.2 38.6
========================== ===== ======= ====== ======= ====== ======
Copper in concentrate kt 54.4 10.6 30.4 24.0 9.5
========================== ===== ======= ====== ======= ====== ======
Aktogay sulphide
================================= ======= ====== ======= ====== ======
Copper concentrate kt 94.5 - 67.0 27.5 -
========================== ===== ======= ====== ======= ====== ======
Copper in concentrate kt 23.7 - 16.2 7.5 -
========================== ===== ======= ====== ======= ====== ======
East Region
================================= ======= ====== ======= ====== ======
Copper concentrate kt 149.4 195.6 69.0 80.4 93.2
========================== ===== ======= ====== ======= ====== ======
Copper in concentrate kt 30.9 38.5 14.6 16.3 19.3
========================== ===== ======= ====== ======= ====== ======
Bozymchak
================================= ======= ====== ======= ====== ======
Copper concentrate kt 17.0 16.7 8.4 8.6 8.5
========================== ===== ======= ====== ======= ====== ======
Copper in concentrate kt 4.0 4.2 2.0 2.0 2.1
========================== ===== ======= ====== ======= ====== ======
Total copper concentrate kt 504.6 257.5 280.9 223.7 140.3
========================== ===== ======= ====== ======= ====== ======
Total copper in
concentrate kt 113.0 53.3 63.2 49.8 30.9
========================== ===== ======= ====== ======= ====== ======
Copper production(1) kt 118.0 56.3 65.9 52.1 33.6
========================== ===== ======= ====== ======= ====== ======
Bozshakol kt 52.0 10.1 29.1 22.9 9.1
========================== ===== ======= ====== ======= ====== ======
Aktogay sulphide kt 22.6 - 15.4 7.2 -
========================== ===== ======= ====== ======= ====== ======
Aktogay oxide kt 10.4 5.4 5.7 4.7 3.9
========================== ===== ======= ====== ======= ====== ======
East Region kt 29.2 36.8 13.8 15.4 18.6
========================== ===== ======= ====== ======= ====== ======
Bozymchak kt 3.8 4.0 1.9 1.9 2.0
========================== ===== ======= ====== ======= ====== ======
Copper cathodes kt 54.4 43.9 28.8 25.6 23.6
========================== ===== ======= ====== ======= ====== ======
Bozshakol (toll
processed) kt 4.6 - 3.7 0.9 -
========================== ===== ======= ====== ======= ====== ======
Aktogay sulphide
(toll processed) kt 4.1 - 3.6 0.5 -
=========================== ==== ======= ====== ======= ====== ======
Aktogay oxide kt 10.4 5.4 5.7 4.7 3.9
========================== ===== ======= ====== ======= ====== ======
East Region (toll
processed) kt 31.2 35.6 14.0 17.2 17.5
========================== ===== ======= ====== ======= ====== ======
Bozymchak (toll
processed) kt 4.1 2.9 1.8 2.3 2.2
========================== ===== ======= ====== ======= ====== ======
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
Zinc
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
====================================== ======= ====== ====== ====== ======
Zinc bearing ore
mined kt 1,503 1,904 777 726 952
============================== ======= ======= ====== ====== ====== ======
Orlovsky kt 545 679 270 275 337
============================== ======= ======= ====== ====== ====== ======
Artemyevsky kt 645 646 351 294 327
============================== ======= ======= ====== ====== ====== ======
Irtyshsky kt 313 316 156 157 157
============================== ======= ======= ====== ====== ====== ======
Yubileyno-Snegirikhinsky kt - 263 - - 131
============================== ======= ======= ====== ====== ====== ======
Zinc bearing ore
processed kt 1,457 1,926 707 750 976
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator kt 546 682 270 276 339
============================== ======= ======= ====== ====== ====== ======
grade
(%) 3.88 4.46 3.76 3.99 4.13
====================================== ======= ====== ====== ====== ======
Nikolayevsky concentrator kt 594 908 275 319 474
============================== ======= ======= ====== ====== ====== ======
grade
(%) 2.11 1.72 2.48 1.78 1.89
====================================== ======= ====== ====== ====== ======
Belousovsky concentrator kt 317 336 162 155 163
============================== ======= ======= ====== ====== ====== ======
grade
(%) 3.50 2.89 3.80 3.20 2.81
====================================== ======= ====== ====== ====== ======
Average grade
processed % 3.07 2.89 3.27 2.89 2.82
============================== ======= ======= ====== ====== ====== ======
Zinc metal in
ore processed kt 44.8 55.8 23.1 21.7 27.5
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator kt 21.1 30.5 10.1 11.0 14.0
============================== ======= ======= ====== ====== ====== ======
Nikolayevsky concentrator kt 12.5 15.6 6.8 5.7 8.9
============================== ======= ======= ====== ====== ====== ======
Belousovsky concentrator kt 11.2 9.7 6.2 5.0 4.6
============================== ======= ======= ====== ====== ====== ======
Average recovery
rate % 72.2 71.0 72.7 71.8 71.6
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator % 70.9 72.7 69.0 72.6 73.2
============================== ======= ======= ====== ====== ====== ======
Nikolayevsky concentrator % 76.3 69.7 80.6 71.0 71.3
============================== ======= ======= ====== ====== ====== ======
Belousovsky concentrator % 70.2 68.0 69.9 70.6 67.1
============================== ======= ======= ====== ====== ====== ======
Zinc in concentrate kt 32.3 39.6 16.8 15.5 19.7
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator kt 15.0 22.1 7.0 8.0 10.2
============================== ======= ======= ====== ====== ====== ======
Nikolayevsky concentrator kt 9.5 10.9 5.5 4.0 6.4
============================== ======= ======= ====== ====== ====== ======
Belousovsky concentrator kt 7.8 6.6 4.3 3.5 3.1
============================== ======= ======= ====== ====== ====== ======
Gold
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
=========================== ============== ======== ======= ======== ======= ======
Gold bearing ore
mined kt 21,399 13,420 10,534 10,865 7,175
=========================== ============== ======== ======= ======== ======= ======
Bozshakol kt 19,426 11,016 9,522 9,904 6,007
=========================== ============== ======== ======= ======== ======= ======
East Region kt 1,503 1,904 777 726 952
=========================== ============== ======== ======= ======== ======= ======
Bozymchak kt 470 500 235 235 216
=========================== ============== ======== ======= ======== ======= ======
Gold bearing ore
processed kt 13,655 4,748 7,592 6,063 3,230
=========================== ============== ======== ======= ======== ======= ======
Bozshakol kt 11,690 2,290 6,630 5,060 1,989
=========================== ============== ======== ======= ======== ======= ======
grade
(g/t) 0.31 0.29 0.29 0.33 0.29
========================================== ======== ======= ======== ======= ======
East Region kt 1,457 1,926 707 750 976
=========================== ============== ======== ======= ======== ======= ======
grade
(g/t) 0.53 0.57 0.57 0.50 0.57
=========================== ============== ======== ======= ======== ======= ======
Bozymchak kt 508 532 255 253 265
=========================== ============== ======== ======= ======== ======= ======
grade
(g/t) 1.66 1.69 1.69 1.63 1.69
=========================== ============== ======== ======= ======== ======= ======
Average grade processed g/t 0.38 0.56 0.36 0.40 0.49
=========================== ============== ======== ======= ======== ======= ======
Gold in ore processed koz 166.9 85.4 88.8 78.1 51.0
=========================== ============== ======== ======= ======== ======= ======
Bozshakol koz 114.9 21.6 62.0 52.9 18.7
=========================== ============== ======== ======= ======== ======= ======
East Region koz 24.9 35.0 12.9 12.0 17.9
=========================== ============== ======== ======= ======== ======= ======
Bozymchak koz 27.1 28.8 13.9 13.2 14.4
=========================== ============== ======== ======= ======== ======= ======
Average recovery
rate % 59.2 56.0 60.2 58.2 56.9
=========================== ============== ======== ======= ======== ======= ======
Bozshakol % 58.5 60.4 59.3 57.6 62.5
=========================== ============== ======== ======= ======== ======= ======
East Region % 37.4 32.7 40.1 34.5 32.8
=========================== ============== ======== ======= ======== ======= ======
Bozymchak % 82.3 81.1 83.1 81.5 79.7
=========================== ============== ======== ======= ======== ======= ======
Gold in concentrate koz 98.8 47.8 53.4 45.4 29.0
=========================== ============== ======== ======= ======== ======= ========
Bozshakol koz 67.2 13.0 36.7 30.5 11.7
=========================== ============== ======== ======= ======== ======= ========
East Region koz 9.3 11.5 5.2 4.1 5.9
=========================== ============== ======== ======= ======== ======= ========
Bozymchak koz 22.3 23.3 11.5 10.8 11.4
=========================== ============== ======== ======= ======== ======= ========
Gold production(1) koz 93.0 45.1 50.4 42.6 27.4
=========================== ============== ======== ======= ======== ======= ========
Bozshakol koz 62.9 12.3 34.4 28.5 11.1
=========================== ============== ======== ======= ======== ======= ========
Aktogay (sulphide)
(2) koz 0.4 - 0.3 0.1 -
=========================== ============== ======== ======= ======== ======= ========
East Region koz 8.8 10.8 4.9 3.9 5.5
=========================== ============== ======== ======= ======== ======= ========
Bozymchak koz 20.9 22.0 10.8 10.1 10.8
=========================== ============== ======== ======= ======== ======= ========
Gold bar produced
(toll processed) koz 28.6 25.3 13.6 15.0 17.3
============================ ============= ======== ======= ======== ======= ========
Bozshakol koz 3.6 - 3.6 - -
============================ ============= ======== ======= ======== ======= ========
Aktogay (sulphide)(2) koz - - - - -
=========================== ============== ======== ======= ======== ======= ========
East Region koz 7.0 12.1 2.4 4.6 5.3
=========================== ============== ======== ======= ======== ======= ========
Bozymchak koz 18.0 13.2 7.6 10.4 12.0
=========================== ============== ======== ======= ======== ======= ========
(1) Payable metal in concentrate.
(2) Minimal volume recovered from Aktogay material.
Silver
6m 6m Q2 Q1 Q2
2017 2016 2017 2017 2016
============ ======== ======= ======== ======= ======
Silver bearing
ore mined kt 21,399 13,420 10,534 10,865 7,175
========================== ============ ======== ======= ======== ======= ======
Bozshakol kt 19,426 11,016 9,522 9,904 6,007
========================== ============ ======== ======= ======== ======= ======
East Region kt 1,503 1,904 777 726 952
========================== ============ ======== ======= ======== ======= ======
Bozymchak kt 470 500 235 235 216
========================== ============ ======== ======= ======== ======= ======
Silver bearing
ore processed kt 13,655 4,748 7,592 6,063 3,230
========================== ============ ======== ======= ======== ======= ======
Bozshakol kt 11,690 2,290 6,630 5,060 1,989
========================== ============ ======== ======= ======== ======= ======
grade
(g/t) 1.58 1.75 1.51 1.68 1.72
============ ======== ======= ======== ======= ======
East Region kt 1,457 1,926 707 750 976
========================== ============ ======== ======= ======== ======= ======
grade
(g/t) 44.4 44.1 50.6 38.5 45.1
============ ======== ======= ======== ======= ======
Bozymchak kt 508 532 255 253 265
========================== ============ ======== ======= ======== ======= ======
grade
(g/t) 11.5 12.5 11.8 11.2 12.9
============ ======== ======= ======== ======= ======
Average grade
processed g/t 6.5 20.1 6.4 6.6 15.7
========================== ============ ======== ======= ======== ======= ======
Silver in ore
processed koz 2,862 3,076 1,569 1,293 1,633
========================== ============ ======== ======= ======== ======= ======
Bozshakol koz 595 129 322 273 110
========================== ============ ======== ======= ======== ======= ======
East Region koz 2,080 2,733 1,151 929 1,413
========================== ============ ======== ======= ======== ======= ======
Bozymchak koz 187 214 96 91 110
========================== ============ ======== ======= ======== ======= ======
Average recovery
rate % 63.3 54.8 62.3 64.5 55.8
========================== ============ ======== ======= ======== ======= ======
Bozshakol % 67.4 50.3 69.0 65.5 51.5
========================== ============ ======== ======= ======== ======= ======
East Region % 60.9 53.4 59.3 63.0 54.5
========================== ============ ======== ======= ======== ======= ======
Bozymchak % 75.7 76.2 75.0 76.4 76.7
========================== ============ ======== ======= ======== ======= ======
Silver in concentrate koz 1,811 1,687 977 834 911
========================== ============ ======== ======= ======== ======= ======
Bozshakol koz 402 65 223 179 57
========================== ============ ======== ======= ======== ======= ======
East Region koz 1,267 1,459 682 585 770
========================== ============ ======== ======= ======== ======= ======
Bozymchak koz 142 163 72 70 84
========================== ============ ======== ======= ======== ======= ======
Silver production(1) koz 1,756 1,560 961 795 854
========================== ============ ======== ======= ======== ======= ======
Bozshakol koz 361 58 200 161 51
========================== ============ ======== ======= ======== ======= ======
Aktogay (sulphide)(2) koz 113 - 75 38 -
========================== ============ ======== ======= ======== ======= ======
East Region koz 1,153 1,351 621 532 724
========================== ============ ======== ======= ======== ======= ======
Bozymchak koz 129 151 65 64 79
========================== ============ ======== ======= ======== ======= ======
Silver bar produced
(toll processed) koz 1,370 1,355 585 785 636
=========================== =========== ======== ======= ======== ======= ======
Bozshakol koz 19 - 13 6 -
========================== ============ ======== ======= ======== ======= ======
Aktogay (sulphide)(2) koz 19 - 19 - -
========================== ============ ======== ======= ======== ======= ======
East Region koz 1,200 1,268 485 715 558
========================== ============ ======== ======= ======== ======= ======
Bozymchak koz 132 87 68 64 78
========================== ============ ======== ======= ======== ======= ======
(1) Payable metal in concentrate.
(2) Minimal volume recovered from Aktogay material.
This information is provided by RNS
The company news service from the London Stock Exchange
END
UPDSEMFMMFWSEEW
(END) Dow Jones Newswires
July 27, 2017 02:00 ET (06:00 GMT)
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