TIDMKAZ
RNS Number : 8571C
KAZ Minerals PLC
25 January 2018
KAZ MINERALS
PLC
6(TH) FLOOR
CARDINAL PLACE
100 VICTORIA
STREET
LONDON SW1E 5JL
Tel: +44 (0)
20 7901 7800
==================
25 January 2018
KAZ MINERALS GROUP PRODUCTION REPORT FOR 12 MONTHS AND THE
fourth QUARTERED 31 december 2017
l Full year copper production(1) increased by 80% to 259 kt (FY
2016: 144 kt)
-- Copper at top of February 2017 FY guidance (225-260 kt) and
in line with updated range (250-270 kt)
-- Full year gold production(2) of 179 koz at upper end of
guidance range (160-180 koz)
-- Q4 copper production(1) of 65 kt (Q3 2017: 75 kt) reflecting
expected grade reduction at Aktogay and Bozshakol concentrator
maintenance
l Bozshakol copper production(2) of 23 kt in Q4 (Q3 2017: 27
kt)
-- Full year copper production(2) of 101 kt (FY 2016: 48 kt), in
line with guidance of 100-110 kt
-- Gold production(2) maintained at 28 koz in Q4 (Q3 2017: 28
koz), FY 2017 output of 119 koz at top of range (110-120 koz)
-- Sulphide plant throughput limited in Q4 due to 13 day
stoppage for maintenance in November
-- Changes to mining sequence resulted in a reduced sulphide ore
mined copper grade of 0.49% in Q4 2017 and a processed grade of
0.44% is now expected for 2018. Copper production(2) at Bozshakol
is expected to be in the region of 100 kt in 2018
l Aktogay copper production(1) of 26 kt in Q4 (Q3 2017: 31
kt)
-- Full year copper production(1) of 90 kt (FY 2016: 18 kt), in
line with guidance of 85-95 kt
-- Main sulphide concentrator achieved 68% of design throughput
in Q4
-- Oxide production of 7 kt in Q4 and 25 kt for the full year,
at the top end of guidance of up to 25 kt
l 17 kt of copper production(2) in Q4 from East Region and
Bozymchak results in FY production of 67 kt
-- Ahead of FY 2017 copper production(2) guidance of c.65 kt
-- Q4 zinc in concentrate output of 12 kt, full year production
of 58 kt below guidance of 60-70 kt due to delayed access to high
grade ore at Artemyevsky
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
(2) Payable metal in concentrate.
Andrew Southam, Chief Executive Officer, said: "I am pleased
that in 2017 we achieved copper production targets across all of
our assets including at Aktogay, where we launched sulphide
production in February 2017 and declared the concentrator
commercial in October. The performance of our two recently
commissioned mines at Bozshakol and Aktogay has delivered an 80%
increase in annual copper output into a tightening market and gold
production at the top of our guidance 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 Region of Kazakhstan,
three underground mines and associated concentrators in the East
Region of Kazakhstan and the Bozymchak copper-gold mine in
Kyrgyzstan. In 2017, total copper production was 259 kt with
by-products of 58 kt of zinc in concentrate, 179 koz of gold and
3,506 koz of silver.
The Group's new operations at Bozshakol and Aktogay have
delivered one of the highest growth rates in the industry and
transformed KAZ Minerals into a company dominated by world class,
open pit copper mines.
Bozshakol is a first quartile asset on the global cost curve
with an annual ore processing capacity of 30 million tonnes 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 average copper grades of 0.36% (oxide) and 0.34% (sulphide)
and a mine life of approximately 28 years. Aktogay commenced
production of copper cathode from oxide ore in December 2015 and
copper in concentrate from sulphide ore in February 2017. The
operating sulphide concentrator has an annual ore processing
capacity of 25 million tonnes and the sulphide processing capacity
will be doubled to 50 million tonnes with the addition of a second
concentrator by the end of 2021. Aktogay is competitively
positioned on the global cost curve and will produce an average of
90 kt of copper per year from sulphide ore until 2021, increasing
to 170 kt per year from 2022 to 2027, after the second concentrator
commences operations. Copper production from oxide ore will be in
the region of 20 kt per annum until 2025.
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
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
================================== ======= ======= ======= ======== =======
Ore extraction kt 64,779 49,022 13,399 16,959 13,258
============================ ===== ======= ======= ======= ======== =======
Ore processed kt 41,671 15,688 11,417 12,025 5,971
============================ ===== ======= ======= ======= ======== =======
Average copper
grade processed % 0.71 0.98 0.65 0.68 0.81
============================ ===== ======= ======= ======= ======== =======
Ore to leach pads kt 13,040 15,989 2,173 2,570 3,247
============================ ===== ======= ======= ======= ======== =======
Copper production(1) kt 258.5 143.5 65.2 75.3 44.9
============================ ===== ======= ======= ======= ======== =======
Bozshakol kt 101.3 48.0 22.5 26.8 21.2
============================ ===== ======= ======= ======= ======== =======
Aktogay sulphide kt 65.1 - 19.3 23.2 -
============================ ===== ======= ======= ======= ======== =======
Aktogay oxide kt 25.1 18.1 6.7 8.0 6.1
============================ ===== ======= ======= ======= ======== =======
East Region & Bozymchak kt 67.0 77.4 16.7 17.3 17.6
============================ ===== ======= ======= ======= ======== =======
Zinc in concentrate kt 57.6 75.4 11.8 13.5 19.2
============================ ===== ======= ======= ======= ======== =======
Gold production(2) koz 178.7 127.7 40.9 44.8 42.0
============================ ===== ======= ======= ======= ======== =======
Silver production(2) koz 3,506 3,284 798 952 985
============================ ===== ======= ======= ======= ======== =======
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
(2) Payable metal in concentrate.
Copper production of 65.2 kt in the fourth quarter resulted in
full year output of 258.5 kt, an 80% increase compared to the full
year 2016 and in line with the raised guidance issued in the second
half of 2017 of 250-270 kt. Production growth in 2017 was driven by
the commencement and ramp up of copper production from the Aktogay
sulphide concentrator, which started operations in February 2017
and from the ramp up of Bozshakol. Aktogay sulphide operations
added 65.1 kt of new copper production, representing 57% of the
increase in annual output, whilst Bozshakol grew production by 53.3
kt, to 101.3 kt.
Total ore extraction in 2017 rose by 32% to 64.8 million tonnes
(FY 2016: 49.0 million tonnes) as mining operations increased to
feed the Bozshakol and Aktogay concentrators. 41.7 million tonnes
of ore was processed by the Group's concentrators and 13.0 million
tonnes of oxide ore placed on heap leach cells at Aktogay.
Approximately 10 million tonnes of clay ore was stripped to allow
access to sulphide ores at Bozshakol and stockpiled for future
processing at the clay plant. The average copper grade processed
was 0.71% (FY 2016: 0.98%) as processing volumes from the lower
grade open pit mines at Bozshakol and Aktogay increased.
The Group achieved the upper end of its full year gold guidance
range with 178.7 koz of production compared to guidance of 160-180
koz. Silver production was in line with expectations at 3,506 koz
(guidance 3,450-3,700 koz) but zinc in concentrate output was below
guidance, at 57.6 kt (60-65 kt), due to delayed access to higher
grade zones in the East Region.
In Q4 2017 ore extraction decreased to 13.4 million tonnes (Q3
2017: 17.0 million tonnes), as the quantity of clay ore required to
be extracted at Bozshakol to access sulphide ore reduced
significantly. Processing volumes also decreased slightly, to 11.4
million tonnes from 12.0 million tonnes in the previous quarter,
primarily due to a 13 day maintenance stoppage at Bozshakol for
mill relining and equipment repairs in November. The average copper
grade of ore processed in the quarter reduced to 0.65% as expected
(Q3 2016: 0.68%), due to the reduced proportion of supergene
enriched ore processed at Aktogay and slightly lower grades at
Bozshakol.
Copper production in Q4 of 65.2 kt reduced by 13% compared to
75.3 kt in the previous quarter due to the maintenance at Bozshakol
and a lower average copper grade processed at Aktogay. Gold output
in Q4 was lower than the previous quarter at 40.9 koz, due to
reduced grades and recovery rates in the East Region and Bozymchak.
Silver and zinc in concentrate production in Q4 were both impacted
by low grades in the East Region during the quarter, as access to
high grade areas scheduled for Q4 2017 was delayed into 2018.
BOZSHAKOL
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
============================= ======== ======= ======= ====== ======
Ore extraction kt 34,612 28,272 5,952 9,234 8,790
======================= ===== ======== ======= ======= ====== ======
Sulphide kt 19,540 13,387 5,078 5,429 4,493
======================= ===== ======== ======= ======= ====== ======
Clay kt 15,072 14,885 874 3,805 4,297
======================= ===== ======== ======= ======= ====== ======
Ore processed kt 24,558 11,068 6,060 6,808 4,916
======================= ===== ======== ======= ======= ====== ======
Copper
============================== ======== ======= ======= ====== ======
Average copper
grade processed % 0.53 0.56 0.50 0.51 0.57
======================= ===== ======== ======= ======= ====== ======
Copper in ore
processed kt 130.2 62.5 30.1 34.5 28.1
======================= ===== ======== ======= ======= ====== ======
Copper recovery
rate % 81.4 80.3 78.2 81.3 79.0
======================= ===== ======== ======= ======= ====== ======
Copper in concentrate kt 106.0 50.3 23.5 28.1 22.2
======================= ===== ======== ======= ======= ====== ======
Copper production(1) kt 101.3 48.0 22.5 26.8 21.2
======================= ===== ======== ======= ======= ====== ======
Gold
============================== ======== ======= ======= ====== ======
Average gold grade
processed g/t 0.28 0.33 0.26 0.25 0.31
======================= ===== ======== ======= ======= ====== ======
Gold recovery
rate % 57.9 58.2 58.8 55.5 57.1
======================= ===== ======== ======= ======= ====== ======
Gold in concentrate koz 127.2 68.0 29.8 30.2 28.4
======================= ===== ======== ======= ======= ====== ======
Gold production(1) koz 119.0 64.2 27.9 28.2 26.5
======================= ===== ======== ======= ======= ====== ======
Silver production(1) koz 687 304 170 156 146
======================= ===== ======== ======= ======= ====== ======
(1) Payable metal in concentrate.
Ore extraction in Q4 at Bozshakol was 36% lower at 5,952 kt (Q3
2017: 9,234 kt), as the volume of clay ore extraction reduced. The
quantity of clay ore required to be mined to access sulphide ore
reduced to 874 kt from 3,805 kt in the previous quarter. Clay ore
processing volumes of 1,027 kt in Q4 exceeded the quantity of clay
ore extracted for the first time since mining operations began in
2015.
The quantity of sulphide ore extracted in Q4 reduced slightly
from the previous quarter, to 5.1 million tonnes (Q3 2017: 5.4
million tonnes), in line with the requirements of the main sulphide
plant.
Having achieved 93% of design capacity in Q3, average throughput
in the main concentrator was temporarily lower at 80% in Q4 due to
a 13 day shut down for scheduled mill relining and other repairs.
The concentrator returned to 91% throughput in December and has
operated at similar levels in 2018 year-to-date.
The average recovery rate at Bozshakol in Q4 2017 of 78.2% was
lower than the 81.3% achieved in the previous quarter reflecting
lower recovery rates at the clay plant during the period.
Copper production in Q4 of 22.5 kt was 16% below the previous
quarter, primarily as a result of the shut down at the main
sulphide plant. Gold production was maintained at 27.9 koz, in line
with Q3 2017, as a higher average gold grade and an increase in the
gold recovery rate offset the lower ore processing volumes.
In the 12 months to 31 December 2017, ore extraction at
Bozshakol increased by 22% compared to 2016, to 34,612 kt.
Processing volumes rose by 122%, from 11,068 kt to 24,558 kt, as
the sulphide concentrator and clay plant ramped up. As expected,
the average copper grade processed reduced from 0.56% in 2016 to
0.53% in 2017.
Full year copper production at Bozshakol in 2017 was in line
with guidance of 100-110 kt, at 101.3 kt. Gold production in Q4 of
27.9 koz resulted in full year output of 119.0 koz, at the upper
end of guidance of 110-120 koz, supported by high gold grades
throughout the year and an improvement in recovery rates in Q4
2017. Silver output of 687 koz was 6% above full year guidance of
approximately 650 koz.
Changes to the mining sequence have resulted in a reduced
sulphide ore mined copper grade of 0.49% in Q4 2017 and a revised
forecast of 0.44% for FY 2018. Copper production at Bozshakol is
now expected to be in the region of 100 kt in 2018. Further details
on production guidance for 2018 will be given with the 2017 full
year results on 22 February 2018.
AKTOGAY
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
============================== ======== ======= ======= ====== ======
Ore extraction kt 26,248 16,086 6,470 6,756 3,344
========================= ==== ======== ======= ======= ====== ======
Oxide kt 13,040 15,989 2,173 2,570 3,247
========================= ==== ======== ======= ======= ====== ======
Sulphide kt 13,208 97 4,297 4,186 97
========================= ==== ======== ======= ======= ====== ======
Oxide
=============================== ======== ======= ======= ====== ======
Oxide ore to leach
pads kt 13,040 15,989 2,173 2,570 3,247
========================= ==== ======== ======= ======= ====== ======
Grade % 0.36 0.41 0.29 0.27 0.43
========================= ==== ======== ======= ======= ====== ======
Copper cathode kt 25.1 18.1 6.7 8.0 6.1
========================= ==== ======== ======= ======= ====== ======
Sulphide
=============================== ======== ======= ======= ====== ======
Sulphide ore processed kt 12,941 - 4,265 4,102 -
========================= ==== ======== ======= ======= ====== ======
Average grade processed % 0.66 - 0.58 0.65 -
========================= ==== ======== ======= ======= ====== ======
Recovery rate % 79.6 - 81.6 90.7 -
========================= ==== ======== ======= ======= ====== ======
Copper in concentrate kt 68.2 - 20.2 24.3 -
========================= ==== ======== ======= ======= ====== ======
Copper production(1) kt 65.1 - 19.3 23.2 -
========================= ==== ======== ======= ======= ====== ======
Total copper production kt 90.2 18.1 26.0 31.2 6.1
========================= ==== ======== ======= ======= ====== ======
(1) Payable metal in concentrate.
Ore extraction at Aktogay of 6,470 kt in Q4 represents a 4%
decrease compared to the previous quarter, with oxide extraction
reducing by 15% to match the requirements of the heap leaching
operation and sulphide ore extraction increasing by 3% in line with
the ramp up of the sulphide concentrator.
Commercial levels of copper production from the sulphide plant
were declared at the beginning of October and throughput was
increased to 68% in Q4 from 66% in Q3 2017. As expected, the grade
of sulphide ore processed decreased from 0.65% in Q3 2017 to 0.58%
in Q4, as the proportion of supergene enriched ore reduced. The
lower copper grade processed in Q4 also saw recovery rates reduce
from the elevated levels of 90.7% in Q3 to 81.6% in Q4 2017, a more
typical recovery rate for this stage of the ramp up. Copper
production from sulphide ore therefore reduced to 19.3 kt in Q4,
from 23.2 kt in the previous quarter.
At the oxide operations, the grade of ore placed on leach pads
was 0.29%, in line with the previous quarter. Seasonally lower
temperatures in Q4 resulted in copper cathode output of 6.7 kt, a
reduction of 16% from the previous quarter but an increase of 10%
compared to Q4 2016.
Full year ore extraction increased by 63% compared to 2016, to
26,248 kt, with 100% of oxide ore mined placed on leach pads and
98% of sulphide ore mined processed through the concentrator during
the year.
The sulphide concentrator remains on track to achieve 100% of
design capacity in 2018, as guided. Copper production from sulphide
ore of 65.1 kt, combined with 25.1 kt of copper cathode from oxide
ore, resulted in full year copper production of 90.2 kt, in line
with the guidance range of 85-95 kt.
EAST REGION & BOZYMCHAK
Copper
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
====================================== ======= ====== ====== ====== ======
Ore extraction kt 3,919 4,664 977 969 1,124
============================== ======= ======= ====== ====== ====== ======
Ore processed kt 4,172 4,620 1,092 1,115 1,055
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator kt 1,067 1,262 272 249 290
============================== ======= ======= ====== ====== ====== ======
grade
(%) 3.60 3.66 3.32 3.63 3.88
====================================== ======= ====== ====== ====== ======
Nikolayevsky concentrator kt 1,460 1,673 415 451 362
============================== ======= ======= ====== ====== ====== ======
grade
(%) 1.49 1.51 1.46 1.50 1.31
====================================== ======= ====== ====== ====== ======
Belousovsky concentrator kt 636 651 160 159 160
============================== ======= ======= ====== ====== ====== ======
grade
(%) 1.54 1.54 1.51 1.51 1.52
====================================== ======= ====== ====== ====== ======
Bozymchak concentrator kt 1,009 1,034 245 256 243
============================== ======= ======= ====== ====== ====== ======
grade
(%) 0.89 0.88 0.88 0.89 0.88
====================================== ======= ====== ====== ====== ======
Average grade processed % 1.89 1.96 1.80 1.84 1.95
============================== ======= ======= ====== ====== ====== ======
Average recovery
rate % 90.0 89.6 90.1 89.4 90.3
============================== ======= ======= ====== ====== ====== ======
Copper in concentrate kt 71.0 81.0 17.8 18.3 18.6
============================== ======= ======= ====== ====== ====== ======
Orlovsky concentrator kt 34.9 41.7 8.2 8.2 10.4
============================== ======= ======= ====== ====== ====== ======
Nikolayevsky concentrator kt 19.6 22.5 5.5 6.1 4.2
============================== ======= ======= ====== ====== ====== ======
Belousovsky concentrator kt 8.5 8.6 2.1 2.0 2.1
============================== ======= ======= ====== ====== ====== ======
Bozymchak concentrator kt 8.0 8.2 2.0 2.0 1.9
============================== ======= ======= ====== ====== ====== ======
Copper production(1) kt 67.0 77.4 16.7 17.3 17.6
============================== ======= ======= ====== ====== ====== ======
(1) Payable metal in concentrate.
Ore extraction in the East Region and Bozymchak was in line with
the previous quarter at 977 kt (Q3 2017: 969 kt). The 1,092 kt of
ore processed exceeded mined volumes, as the Nikolayevsky
concentrator processed a small volume of stockpiled ore. The
average copper grade of ore processed was slightly lower than the
previous quarter at 1.80% (Q3 2017: 1.84%), with quarterly copper
in concentrate production and copper production both 3% lower as a
result, at 17.8 kt and 16.7 kt respectively (Q3 2017 copper
production: 17.3 kt).
In the 12 months to 31 December 2017, ore extraction volumes
were 16% below the prior year, mainly due to the closure of the
Yubileyno-Snegirikhinsky mine at the end of 2016. The average
copper grade of ore processed reduced to 1.89% from 1.96% in the
prior year, as grades were lower at Orlovsky and Nikolayevsky.
Processing volumes reduced in line with lower mining output to
4,172 kt from 4,620 kt, resulting in copper production of 67.0 kt
(2016: 77.4 kt), ahead of full year group guidance of c.65 kt.
Bozymchak performed at full design capacity during the year,
producing 8.0 kt copper (FY 2016: 8.2 kt).
By-products
12m 12m Q4 Q3 Q4
Zinc 2017 2016 2017 2017 2016
================================ ======= ====== ====== ====== ======
Zinc bearing ore
processed kt 3,163 3,586 847 859 812
========================= ===== ======= ====== ====== ====== ======
Average grade processed % 2.65 2.95 2.19 2.40 3.21
========================= ===== ======= ====== ====== ====== ======
Average recovery
rate % 68.6 71.3 63.6 65.3 73.4
========================= ===== ======= ====== ====== ====== ======
Zinc in concentrate kt 57.6 75.4 11.8 13.5 19.2
========================= ===== ======= ====== ====== ====== ======
Gold
================================ ======= ====== ====== ====== ======
Gold bearing ore
processed kt 4,172 4,620 1,092 1,115 1,055
========================= ===== ======= ====== ====== ====== ======
Average grade processed g/t 0.76 0.81 0.65 0.77 0.83
========================= ===== ======= ====== ====== ====== ======
Average recovery
rate % 61.3 56.1 61.0 62.6 58.4
========================= ===== ======= ====== ====== ====== ======
Gold in concentrate koz 62.7 67.6 13.9 17.2 16.5
========================= ===== ======= ====== ====== ====== ======
Gold production(1) koz 58.9 63.5 13.0 16.2 15.5
========================= ===== ======= ====== ====== ====== ======
Silver
================================ ======= ====== ====== ====== ======
Silver bearing
ore processed kt 4,172 4,620 1,092 1,115 1,055
========================= ===== ======= ====== ====== ====== ======
Average grade processed g/t 33.6 37.6 28.3 34.9 41.9
========================= ===== ======= ====== ====== ====== ======
Average recovery
rate % 62.1 57.7 60.8 63.1 64.8
========================= ===== ======= ====== ====== ====== ======
Silver in concentrate koz 2,801 3,224 603 789 922
========================= ===== ======= ====== ====== ====== ======
Silver production(1) koz 2,549 2,980 549 718 839
========================= ===== ======= ====== ====== ====== ======
(1) Payable metal in concentrate.
Zinc bearing ore volumes in Q4 were in line with the previous
quarter at 847 kt (Q3 2017: 859 kt) but continued low zinc grades
of 2.19% resulted in zinc in concentrate output of 11.8 kt, down
from 13.5 kt in the previous quarter. Access to higher zinc grades
at Artemyevsky which was expected to occur in the second half of
2017 is now delayed until 2018. Lower than expected grades at
Orlovsky also contributed to the decline, with full year zinc in
concentrate output of 57.6 kt, below the guidance range of 60-65
kt.
Gold bearing ore processing volumes in Q4 were in line with Q3
2017, though a lower average grade of 0.65 g/t led to a 20%
reduction in gold production to 13.0 koz, from 16.2 koz in the
previous quarter. However, full year gold production was at the top
end of the guidance range of 50-60 koz, driven by strong output of
41.3 koz from the Bozymchak mine which more than offset the effect
of lower grades in the East Region.
Silver production of 2,549 koz was slightly below guidance of
2,600-2,850 koz due to lower silver grades in Q4, which were
impacted by the delayed access to high by-product grade areas at
Artemyevsky.
APPIX - GROUP PRODUCTION SUMMARY
Copper mining & processing
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
============================== ======= ======= ======= ======= ========
Ore extraction kt 64,779 49,022 13,399 16,959 13,258
========================= ==== ======= ======= ======= ======= ========
Bozshakol kt 34,612 28,272 5,952 9,234 8,790
========================= ==== ======= ======= ======= ======= ========
Aktogay kt 26,248 16,086 6,470 6,756 3,344
========================= ==== ======= ======= ======= ======= ========
East Region kt 2,998 3,729 752 743 905
========================= ==== ======= ======= ======= ======= ========
Bozymchak kt 921 935 225 226 219
========================= ==== ======= ======= ======= ======= ========
Average grade mined % 0.61 0.66 0.57 0.59 0.67
========================= ==== ======= ======= ======= ======= ========
Copper in ore mined kt 395.1 324.2 76.8 99.6 88.6
========================= ==== ======= ======= ======= ======= ========
Ore processed kt 41,671 15,688 11,417 12,025 5,971
========================= ==== ======= ======= ======= ======= ========
Bozshakol kt 24,558 11,068 6,060 6,808 4,916
========================= ==== ======= ======= ======= ======= ========
Aktogay (sulphide) kt 12,941 - 4,265 4,102 -
========================= ==== ======= ======= ======= ======= ========
East Region kt 3,163 3,586 847 859 812
========================= ==== ======= ======= ======= ======= ========
Bozymchak kt 1,009 1,034 245 256 243
========================= ==== ======= ======= ======= ======= ========
Average grade processed % 0.71 0.98 0.65 0.68 0.81
========================= ==== ======= ======= ======= ======= ========
Bozshakol % 0.53 0.56 0.50 0.51 0.57
========================= ==== ======= ======= ======= ======= ========
Aktogay (sulphide) % 0.66 - 0.58 0.65 -
========================= ==== ======= ======= ======= ======= ========
East Region % 2.21 2.27 2.07 2.12 2.27
========================= ==== ======= ======= ======= ======= ========
Bozymchak % 0.89 0.88 0.88 0.89 0.88
========================= ==== ======= ======= ======= ======= ========
Copper in ore processed kt 294.8 153.0 74.5 81.8 48.7
========================= ==== ======= ======= ======= ======= ========
Bozshakol kt 130.2 62.5 30.1 34.5 28.1
========================= ==== ======= ======= ======= ======= ========
Aktogay (sulphide) kt 85.7 - 24.7 26.8 -
========================= ==== ======= ======= ======= ======= ========
East Region kt 69.9 81.4 17.5 18.2 18.5
========================= ==== ======= ======= ======= ======= ========
Bozymchak kt 9.0 9.1 2.2 2.3 2.1
========================= ==== ======= ======= ======= ======= ========
Average recovery
rate % 83.2 85.8 82.5 86.4 83.8
========================= ==== ======= ======= ======= ======= ========
Bozshakol % 81.4 80.3 78.2 81.3 79.0
========================= ==== ======= ======= ======= ======= ========
Aktogay (sulphide) % 79.6 - 81.6 90.7 -
========================= ==== ======= ======= ======= ======= ========
East Region % 90.1 89.4 90.3 89.4 90.4
========================= ==== ======= ======= ======= ======= ========
Bozymchak % 89.0 90.6 88.1 89.6 89.7
========================= ==== ======= ======= ======= ======= ========
Aktogay oxide ore
to leach pads kt 13,040 15,989 2,173 2,570 3,247
========================= ==== ======= ======= ======= ======= ========
Grade % 0.36 0.41 0.29 0.27 0.43
========================= ==== ======= ======= ======= ======= ========
Copper production
12m 12m Q4 Q3 Q4
Bozshakol 2017 2016 2017 2017 2016
================================= ======== ======= ======= ======= =======
Copper concentrate kt 480.8 214.4 110.0 127.1 97.1
========================== ===== ======== ======= ======= ======= =======
Copper in concentrate kt 106.0 50.3 23.5 28.1 22.2
========================== ===== ======== ======= ======= ======= =======
Aktogay Sulphide
================================= ======== ======= ======= ======= =======
Copper concentrate kt 298.6 - 95.9 108.2 -
========================== ===== ======== ======= ======= ======= =======
Copper in concentrate kt 68.2 - 20.2 24.3 -
========================== ===== ======== ======= ======= ======= =======
East Region
================================= ======== ======= ======= ======= =======
Copper concentrate kt 308.5 366.4 83.1 76.0 86.3
========================== ===== ======== ======= ======= ======= =======
Copper in concentrate kt 63.0 72.8 15.8 16.3 16.7
========================== ===== ======== ======= ======= ======= =======
Bozymchak
================================= ======== ======= ======= ======= =======
Copper concentrate kt 33.9 33.9 8.3 8.6 8.2
========================== ===== ======== ======= ======= ======= =======
Copper in concentrate kt 8.0 8.2 2.0 2.0 1.9
========================== ===== ======== ======= ======= ======= =======
Total copper concentrate kt 1,121.8 614.7 297.3 319.9 191.6
========================== ===== ======== ======= ======= ======= =======
Total copper in
concentrate kt 245.2 131.3 61.5 70.7 40.8
========================== ===== ======== ======= ======= ======= =======
Copper production(1) kt 258.5 143.5 65.2 75.3 44.9
========================== ===== ======== ======= ======= ======= =======
Bozshakol kt 101.3 48.0 22.5 26.8 21.2
========================== ===== ======== ======= ======= ======= =======
Aktogay sulphide kt 65.1 - 19.3 23.2 -
========================== ===== ======== ======= ======= ======= =======
Aktogay oxide kt 25.1 18.1 6.7 8.0 6.1
========================== ===== ======== ======= ======= ======= =======
East Region kt 59.5 69.5 14.9 15.4 15.8
========================== ===== ======== ======= ======= ======= =======
Bozymchak kt 7.5 7.9 1.8 1.9 1.8
========================== ===== ======== ======= ======= ======= =======
Copper cathodes kt 112.5 92.9 26.7 31.4 22.9
========================== ===== ======== ======= ======= ======= =======
Bozshakol (toll
processed) kt 10.0 - 0.7 4.7 -
========================== ===== ======== ======= ======= ======= =======
Aktogay sulphide
(toll processed) kt 9.3 - 0.4 4.8 -
=========================== ==== ======== ======= ======= ======= =======
Aktogay oxide kt 25.1 18.1 6.7 8.0 6.1
========================== ===== ======== ======= ======= ======= =======
East Region (toll
processed) kt 60.1 68.5 17.5 11.4 15.5
========================== ===== ======== ======= ======= ======= =======
Bozymchak (toll
processed) kt 8.0 6.3 1.4 2.5 1.3
========================== ===== ======== ======= ======= ======= =======
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
Zinc
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
====================================== ====== ====== ====== ====== ======
Zinc bearing ore
mined kt 2,998 3,729 752 743 905
============================== ======= ====== ====== ====== ====== ======
Orlovsky kt 1,065 1,260 266 254 287
============================== ======= ====== ====== ====== ====== ======
Artemyevsky kt 1,305 1,309 328 332 323
============================== ======= ====== ====== ====== ====== ======
Irtyshsky kt 628 632 158 157 159
============================== ======= ====== ====== ====== ====== ======
Yubileyno-Snegirikhinsky kt - 528 - - 136
============================== ======= ====== ====== ====== ====== ======
Zinc bearing ore
processed kt 3,163 3,586 847 859 812
============================== ======= ====== ====== ====== ====== ======
Orlovsky concentrator kt 1,067 1,262 272 249 290
============================== ======= ====== ====== ====== ====== ======
grade
(%) 3.42 4.38 2.87 3.01 4.38
====================================== ====== ====== ====== ====== ======
Nikolayevsky concentrator kt 1,460 1,673 415 451 362
============================== ======= ====== ====== ====== ====== ======
grade
(%) 1.76 1.80 1.31 1.71 2.20
====================================== ====== ====== ====== ====== ======
Belousovsky concentrator kt 636 651 160 159 160
============================== ======= ====== ====== ====== ====== ======
grade
(%) 3.43 3.11 3.31 3.40 3.37
====================================== ====== ====== ====== ====== ======
Average grade
processed % 2.65 2.95 2.19 2.40 3.21
============================== ======= ====== ====== ====== ====== ======
Zinc metal in
ore processed kt 84.0 105.8 18.6 20.6 26.1
============================== ======= ====== ====== ====== ====== ======
Orlovsky concentrator kt 36.5 55.3 7.8 7.5 12.7
============================== ======= ====== ====== ====== ====== ======
Nikolayevsky concentrator kt 25.7 30.2 5.4 7.7 8.0
============================== ======= ====== ====== ====== ====== ======
Belousovsky concentrator kt 21.8 20.3 5.4 5.3 5.4
============================== ======= ====== ====== ====== ====== ======
Average recovery
rate % 68.6 71.3 63.6 65.3 73.4
============================== ======= ====== ====== ====== ====== ======
Orlovsky concentrator % 64.5 71.8 58.7 52.8 72.4
============================== ======= ====== ====== ====== ====== ======
Nikolayevsky concentrator % 72.8 72.2 63.6 73.6 76.9
============================== ======= ====== ====== ====== ====== ======
Belousovsky concentrator % 70.6 68.5 70.9 70.9 70.8
============================== ======= ====== ====== ====== ====== ======
Zinc in concentrate kt 57.6 75.4 11.8 13.5 19.2
============================== ======= ====== ====== ====== ====== ======
Orlovsky concentrator kt 23.5 39.7 4.5 4.0 9.2
============================== ======= ====== ====== ====== ====== ======
Nikolayevsky concentrator kt 18.7 21.8 3.5 5.7 6.1
============================== ======= ====== ====== ====== ====== ======
Belousovsky concentrator kt 15.4 13.9 3.8 3.8 3.9
============================== ======= ====== ====== ====== ====== ======
Gold
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
=========================== ========= ======= ======= ====== ======= ======
Gold bearing ore
mined kt 38,531 32,936 6,929 10,203 9,914
=========================== ========= ======= ======= ====== ======= ======
Bozshakol kt 34,612 28,272 5,952 9,234 8,790
=========================== ========= ======= ======= ====== ======= ======
East Region kt 2,998 3,729 752 743 905
=========================== ========= ======= ======= ====== ======= ======
Bozymchak kt 921 935 225 226 219
=========================== ========= ======= ======= ====== ======= ======
Gold bearing ore
processed kt 28,730 15,688 7,152 7,923 5,971
=========================== ========= ======= ======= ====== ======= ======
Bozshakol kt 24,558 11,068 6,060 6,808 4,916
=========================== ========= ======= ======= ====== ======= ======
grade
(g/t) 0.28 0.33 0.26 0.25 0.31
===================================== ======= ======= ====== ======= ======
East Region kt 3,163 3,586 847 859 812
=========================== ========= ======= ======= ====== ======= ======
grade
(g/t) 0.48 0.56 0.38 0.49 0.58
=========================== ========= ======= ======= ====== ======= ======
Bozymchak kt 1,009 1,034 245 256 243
=========================== ========= ======= ======= ====== ======= ======
grade
(g/t) 1.64 1.68 1.58 1.68 1.66
=========================== ========= ======= ======= ====== ======= ======
Average grade processed g/t 0.35 0.47 0.32 0.32 0.41
=========================== ========= ======= ======= ====== ======= ======
Gold in ore processed koz 322.1 237.4 73.3 81.9 77.9
=========================== ========= ======= ======= ====== ======= ======
Bozshakol koz 219.9 117.0 50.6 54.4 49.7
=========================== ========= ======= ======= ====== ======= ======
East Region koz 48.8 64.7 10.3 13.6 15.3
=========================== ========= ======= ======= ====== ======= ======
Bozymchak koz 53.4 55.7 12.4 13.9 12.9
=========================== ========= ======= ======= ====== ======= ======
Average recovery
rate % 59.0 57.1 59.5 57.9 57.6
=========================== ========= ======= ======= ====== ======= ======
Bozshakol % 57.9 58.2 58.8 55.5 57.1
=========================== ========= ======= ======= ====== ======= ======
East Region % 38.4 33.6 37.2 41.0 38.4
=========================== ========= ======= ======= ====== ======= ======
Bozymchak % 82.4 82.2 80.8 83.8 82.1
=========================== ========= ======= ======= ====== ======= ======
Gold in concentrate koz 189.9 135.6 43.7 47.4 44.9
=========================== ========= ======= ======= ====== ======= ========
Bozshakol koz 127.2 68.0 29.8 30.2 28.4
=========================== ========= ======= ======= ====== ======= ========
East Region koz 18.7 21.8 3.8 5.6 5.9
=========================== ========= ======= ======= ====== ======= ========
Bozymchak koz 44.0 45.8 10.1 11.6 10.6
=========================== ========= ======= ======= ====== ======= ========
Gold production(1) koz 178.7 127.7 40.9 44.8 42.0
=========================== ========= ======= ======= ====== ======= ========
Bozshakol koz 119.0 64.2 27.9 28.2 26.5
=========================== ========= ======= ======= ====== ======= ========
Aktogay (sulphide)
(2) koz 0.8 - - 0.4 -
=========================== ========= ======= ======= ====== ======= ========
East Region koz 17.6 20.4 3.6 5.2 5.5
=========================== ========= ======= ======= ====== ======= ========
Bozymchak koz 41.3 43.1 9.4 11.0 10.0
=========================== ========= ======= ======= ====== ======= ========
Gold bar produced
(toll processed) koz 73.1 55.1 20.8 23.7 14.1
============================ ======== ======= ======= ====== ======= ========
Bozshakol koz 10.4 - 1.6 5.2 -
============================ ======== ======= ======= ====== ======= ========
Aktogay (sulphide)(2) koz 0.8 - 0.4 0.4 -
=========================== ========= ======= ======= ====== ======= ========
East Region koz 18.0 21.5 5.3 5.7 4.7
=========================== ========= ======= ======= ====== ======= ========
Bozymchak koz 43.9 33.6 13.5 12.4 9.4
=========================== ========= ======= ======= ====== ======= ========
(1) Payable metal in concentrate.
(2) Minimal volume recovered from Aktogay material.
Silver
12m 12m Q4 Q3 Q4
2017 2016 2017 2017 2016
============ ======= ======= ====== ======= ======
Silver bearing
ore mined kt 38,531 32,936 6,929 10,203 9,914
========================== ============ ======= ======= ====== ======= ======
Bozshakol kt 34,612 28,272 5,952 9,234 8,790
========================== ============ ======= ======= ====== ======= ======
East Region kt 2,998 3,729 752 743 905
========================== ============ ======= ======= ====== ======= ======
Bozymchak kt 921 935 225 226 219
========================== ============ ======= ======= ====== ======= ======
Silver bearing
ore processed kt 28,730 15,688 7,152 7,923 5,971
========================== ============ ======= ======= ====== ======= ======
Bozshakol kt 24,558 11,068 6,060 6,808 4,916
========================== ============ ======= ======= ====== ======= ======
grade
(g/t) 1.46 1.64 1.47 1.22 1.66
============ ======= ======= ====== ======= ======
East Region kt 3,163 3,586 847 859 812
========================== ============ ======= ======= ====== ======= ======
grade
(g/t) 40.8 45.1 33.4 41.9 51.5
============ ======= ======= ====== ======= ======
Bozymchak kt 1,009 1,034 245 256 243
========================== ============ ======= ======= ====== ======= ======
grade
(g/t) 11.2 11.6 10.4 11.3 10.0
============ ======= ======= ====== ======= ======
Average grade
processed g/t 6.1 12.2 5.6 6.0 8.8
========================== ============ ======= ======= ====== ======= ======
Silver in ore
processed koz 5,659 6,171 1,279 1,518 1,685
========================== ============ ======= ======= ====== ======= ======
Bozshakol koz 1,149 585 286 268 262
========================== ============ ======= ======= ====== ======= ======
East Region koz 4,147 5,201 911 1,156 1,345
========================== ============ ======= ======= ====== ======= ======
Bozymchak koz 363 385 82 94 78
========================== ============ ======= ======= ====== ======= ======
Average recovery
rate % 63.0 57.7 61.8 63.4 64.3
========================== ============ ======= ======= ====== ======= ======
Bozshakol % 66.4 57.8 65.8 64.8 61.9
========================== ============ ======= ======= ====== ======= ======
East Region % 60.9 56.3 59.4 62.1 64.1
========================== ============ ======= ======= ====== ======= ======
Bozymchak % 75.4 77.0 75.3 75.0 77.3
========================== ============ ======= ======= ====== ======= ======
Silver in concentrate koz 3,564 3,562 791 962 1,084
========================== ============ ======= ======= ====== ======= ======
Bozshakol koz 763 338 188 173 162
========================== ============ ======= ======= ====== ======= ======
East Region koz 2,527 2,928 541 719 862
========================== ============ ======= ======= ====== ======= ======
Bozymchak koz 274 296 62 70 60
========================== ============ ======= ======= ====== ======= ======
Silver production(1) koz 3,506 3,284 798 952 985
========================== ============ ======= ======= ====== ======= ======
Bozshakol koz 687 304 170 156 146
========================== ============ ======= ======= ====== ======= ======
Aktogay (sulphide)(2) koz 270 - 79 78 -
========================== ============ ======= ======= ====== ======= ======
East Region koz 2,300 2,705 493 654 784
========================== ============ ======= ======= ====== ======= ======
Bozymchak koz 249 275 56 64 55
========================== ============ ======= ======= ====== ======= ======
Silver bar produced
(toll processed) koz 2,843 2,757 871 602 726
=========================== =========== ======= ======= ====== ======= ======
Bozshakol koz 53 - 8 26 -
========================== ============ ======= ======= ====== ======= ======
Aktogay (sulphide)(2) koz 41 - 7 15 -
========================== ============ ======= ======= ====== ======= ======
East Region koz 2,473 2,538 785 488 666
========================== ============ ======= ======= ====== ======= ======
Bozymchak koz 276 219 71 73 60
========================== ============ ======= ======= ====== ======= ======
(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
DRLKZLFLVFFXBBL
(END) Dow Jones Newswires
January 25, 2018 02:00 ET (07:00 GMT)
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