In January-September KAZ Minerals produced 230.5 thousand tons of copper, up by 6% YoY. In Q3 the output totaled 82.9 thousand tons of copper and 58.5 thousand ounces of gold. The copper output target this year is 300 thousand tons. Gold target of 170-185 thousand ounces could be exceeded by 5%. The company net debt…
Russian businessman Maksim Vorobiev and his investment fund Amereus Group have purchased 3.00674% of shares of Kaz Minerals. The share of Vorobiev is 1.62043%, and of Amereus Group, wholly owned by Vorobiev, – 1.38631%. Vorobiev and the fund have bought the shares on the open market, so the shares of the major shareholders have remained…
In January-June KAZ Minerals produced 147.6 thousand tons of copper, up by 6% YoY. In Q2 copper output totaled 77.6 thousand tons. Aktogay GOK manufactured 74.1 thousand tons of copper, Bozshakol GOK – 47.1 thousand tons and Bozymchak (Kyrgyzstan) – 26.4 thousand tons. The year output is planned on the level of 300 thousand tons.…
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)