KAZ Minerals Bozshakol has decided to expand its central quarry. According to the company specialists, ore reserves at the main deposit amount to around 1 billion tons. This is enough for 40 years of operation. When the quarry is exhausted, its depth will exceed 400 meters. With the expansion of the quarry, the company has…
In January-June, KAZ Minerals increased copper output by 11% YoY, to 200 thousand tons. Copper sales amounted to 223 thousand tons, up by 23 thousand tons. Gold output dropped by 8%, to 78 thousand ounces, while that of silver grew from 1732 thousand ounces to 1978 thousand ounces and zinc – from 19 thousand tons…
In 2022, KAZ Minerals extracted 380 thousand tons of copper, up by 27% YoY. Gold output totaled 171 thousand ounces, up by 2%, mostly due to higher rate of extraction and processing of ore with higher gold content at Bozshakol. The company also produced 3.768 million ounces of silver (+10.3%) and 47 thousand tons of…
In January-June, KAZ Minerals produced 179.9 thousand tons of copper, up by 19.7% YoY. Sales grew by 36.9%, to 187.5 thousand tons. Zinc manufacture fell by 11.9%, to 19.2 thousand tons due to low metal content in ore and low extraction rate. Sales totaled 24.1 thousand tons, up by 9%. KAZ Minerals also produced 84.5…
In January-March, KAZ Minerals decreased copper output by 3% YoY, to 72.4 thousand tons. The company intends to produce 275-295 thousand tons of copper this year. Gold manufacture decreased by 28%, to 39.9 thousand ounces, and silver – from 793 thousand ounces to 763 thousand ounces, while zinc grew from 9 thousand tons to 9.6…
Vladimir Kim and Oleg Novachuk, director and chairman of the board of Kaz Minerals respectively, as well as its largest shareholders, have announced their intention to buy 60.61% of shares at the London Stock Exchange and return the company to private ownership. The shares will be bought via their Nova Resources company at GBP 6.4…
In January-June, KAZ Minerals produced 153.8 thousand tons of copper, up by 4% YoY. Gold output grew by 25%, to 109.7 thousand ounces, silver – by 18%, to 1.5 million ounces, and zinc in concentrate – by 29%, to 18.4 thousand tons. Aktogay GOK produced 67.6 thousand tons of copper (-9%), Bozshakol GOK – 60.4…
In January-March, KAZ Minerals produced 74.9 thousand tons of copper, up by 7% YoY. Gold output grew by 27.6%, to 55.4 thousand ounces, and silver – by 18%, to 739 thousand ounces. Aktogai Mining and Processing Works mined 12.556 million tons of ore, up by 14%, and produced 27.2 thousand tons of copper, down by…
Sovkombank has organized a loan for KAZ Minerals in the amount of $1 billion. The deal was formed as pre-export financing for 4 years with the possible prolongation for 2 years. The financing has been provided by a syndicate of leading financial institutions, with Sovkombank being the only Russian bank. (Ukrainian metal)
KAZ Minerals has approved expenses of $150 million to finish bankable feasibility study of the development of the Peschanka deposit in Chukotka Autonomous District. Additional machinery might be supplied to the deposit, which will increase expenses. Last year the company approved expenses of $80 million, but the actual amount totaled $111 million. The study is…
In 2019 KAZ Minerals increased EBITDA by 3.4%, to $1.355 billion. Sales grew by 5%, to $2.266 billion. The group sold 317 thousand tons of copper and 225 thousand ounces of gold. Profit last year increased by 12%, to $571 million. Net debt went up to $2.759 billion. (Ukrainian metal)
In 2019 KAZ Minerals produced 311.4 thousand tons of copper, up by 6% YoY. Gold output grew by 10%, to 201.5 thousand ounces mostly due to high contents in Bozshakol and Bozymchak ores. Aktogay GOK produced 123 thousand tons of copper of sulfide ore, up by 16%, and 22.7 thousand tons of cathode copper of…
KAZ Minerals has rented 2.5 thousand square meters of offices on the 16th floor of the Mercury Tower in the Moscow-City Business Center. The company will have its Russian headquarters in the tower. The opening is scheduled for late Q1 2020. (Ukrainian metal)