KAZ Minerals and China Nonferrous Metal Industry’s Foreign Engineering and Construction Company Ltd (NFC) have finalized a deal to sell 19.4% in the Koksay copper project for $70 million. Koksay is a promising project to develop a copper quarry situated in 230 km from Almaty. The reserves of the deposit are 736 million tons of…
Dalenergomost, a part of KAZ Minerals, has announced an auction to construct energy infrastructure for the Baimskoye copper-porphyry field in Chukotka Autonomous District. The initial (maximum) price of the contract is 17.363 billion rubles. The winner of the auction will have to construct an air electricity line with the length of 741,391 km. The offers…
In January-March, Kaz Minerals produced 70 thousand tons of copper, up by 4% YoY. This year the output is expected to total 300 thousand tons. Aktogay produced 36.7 thousand tons of copper, with 130-140 thousand tons to be produced this year. Sulfide copper manufacture grew by 6% QoQ, to 31 thousand tons, and by 47%…
KAZ Minerals is starting preparations for the feasibility study of the Peschanka deposit development. The deposit is situated in the Chukotka Autonomous District. The feasibility study will be prepared by Fluor. The results will be presented in the first half of 2020. In January KAZ Minerals finalized the deal to purchase the Baimskoye copper project…
In 2018 KAZ Minerals profit increased by 14% YoY, to $510 million, thanks to the growth of copper output and sales.
Revenue grew by 30%, to $2.16 billion.
EBITDA went up from $580 million to $642 million.
Copper output increased by 16%, to 296 thousand tons. (Ukrainian metal)
In 2018 KAZ Minerals increased copper output by 14% YoY, to 294.7 thousand tons, mostly due to the high production at Aktogai. Gold manufacture increased to 183.4 thousand ounces from 178.7 thousand ounces. Silver output was 3.511 million ounces (3.506 million ounces). The annual target was 3 million ounces. The manufacture of zinc concentrate (49.7…
The Russian government’s commission for control over foreign investment is likely to approve acquisition of a stake in the Baimskaya polymetallic ore zone by Kazakhstan’s KAZ Minerals, Prime Minister Dmitry Medvedev said on December 4. “We have just had a meeting of the commission for control over foreign investments, we’ve considered one of the issues…
In January-September KAZ Minerals produced 216.8 thousand tons of copper, up by 12% YoY. In Q3 copper output grew by 7%, to 77.2 thousand tons, mostly thanks to the increase in the volume of ore processing. In 9 months zinc concentrate manufacture dropped to 38.3 thousand tons from 45.8 thousand tons. Gold output totaled 135…
The net debt of KAZ Minerals as of September 30 decreased to $1.986 billion from $2.052 billion as of June 30.
In Q3 the company also paid interest on the loans in the amount of $99 million.
Royalty payments totaled $49 million.
The gross debt of the group is $3.502 billion. (Ukrainian metal)
In January-September KAZ Minerals increased raw copper output by 12% YoY, to 216.8 thousand tons.
According to the group statement, in Q3 output grew by 7% QoQ, to 77.2 thousand tons.
Zinc manufacture in 9 months decreased to 38.3 thousand tons from 45.8 thousand tons last year. (Ukrainian metal)
The commissioning of the project to develop Baimskoye copper deposits was discussed at the meeting of the KAZ Minerals chairman Oleg Novachuk and the president representative in the Far East Federal District Yuri Trutnev. The company might be granted the status of the territory of advanced development resident. This status provides for some tax preferences…
The ABB Ability MineOptimize solution will increase the output capacity of KAZ Minerals works. ABB has won a tender to supply a complex solution to electrify and automate the new processing factory at Aktogay. This is the third major order from KAZ Minerals to ABB. The ABB order is a part of the expansion project…
In January-June the net profit of KAZ Minerals Plc grew by 49% YoY, to $276 million. Revenue totaled $1.1 billion, up by 52%. Copper concentrate and copper cathode sales prices increased by 17% and by 19% respectively, to $6135 and $6916 per ton. This year the company intends to produce 270-300 thousand tons of copper.…
KAZ Minerals will get controlling stake and the possibility to buy out the project to develop a large Baimskoye copper deposits in Chukotka, Russia, belonging to Roman Abramovich, Alexander Abramov and their partners. The company is buying 75% of the project for $675 million ($436 million in money and the rest in shares) and gets…
The Central scientific laboratory in the city of Kara-Balte has taken 11 probes of ore in the case of copper-gold concentrate from the Bozymchak deposits. In the probes with the share of gold in the amount of 1.68 g per ton there were 7.77 g of silver per ton and 0.98% of copper. In other…
In January-June KAZ Minerals increased copper output by 18% YoY, to 139.6 thousand tons. The main driver of the growth was the higher processing at the Aktogay factory. In Q2 the company reached its design capacity. In H1 Bozshakol GOK produced 49.8 thousand tons of copper, Aktogay GOK – 60.5 thousand tons, and Bozumchak mine…
KAZ Minerals has signed an agreement with Non Ferrous of China on investments into Koksay project. According to the agreement, in exchange for the investments of $70 million NFC will receive 19.4% in the project. “We have successfully worked with NFC at the Bozshakol and Aktogay construction and intend to develop our relations”, the company…
KAZ Minerals intends to buy the controlling stake in the Baimskoye copper-porphyry deposit (Chukotka) development in June-July. The license to develop the deposit is owned by Baimskaya LLC. KAZ Minerals is expected to pay $1 billion and also submit a part of its shares. According to Goldman Sachs, the development of the Baimskoye deposits is…
Since 2015 KAZ Minerals Bozymchak has exported 9,760 tons of gold concentrate from Kyrgyzstan, the State Service for Combating Economic Crimes reported. The audit report of the Accounting Chamber confirmed the data. “In December 2017 the Investigation Department of the State Service for Combating Economic Crimes instituted criminal proceedings under the article “Abuse of power…
In 2017 KAZ Minerals gross income from sales grew 2-fold YoY, to $1.938 billion. “The increase mainly has to do with the growth of Bozshakol and Aktogay input of $439 million and $462 million respectively, on the background of the strengthening market”, the group said in a statement. The gross income from the sales of…
KAZ Minerals is pondering the acquisition of the Baimskoye copper-gold deposits in Russia from Roman Abramovich. The Baimskoye reserves are estimated at 9.6 million tons of copper with average contents of 0.43% and 16.5 million ounces of gold (0.23 g per ton). Investments in the deposit could reach $1.8 billion. The project envisages the construction…
Kaz Minerals has started negotiations with the government of Kazakhstan as to getting license to construct the second stage of the mining and processing works at the Aktogay deposits and intends to obtain all the necessary documents by year-end. The second stage of Aktogay – the Aktogay II – was approved in December 2017. Investments…
Aktogay Mining and Processing Works will be expanded. In October the works has reached its project capacity at the sulfide enrichment factory, and the board of directors decided to construct another factory, which would double sulfide ore processing from 25 to 50 million tons per year. The expansion is the low-risk project. Investments are expected…
The license for the development of Bozymchak, the country’s largest copper-gold deposit, was renewed, the press secretary of KAZ Minerals Bozymchak LLC Elena Tregubova informed. Earlier, the company received a notice on suspending the license for three months with reference to Article 27 of the Law of the Kyrgyz Republic On Subsoil. Ulanbek Ryskulov, Chairman…