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)
KAZ Minerals has signed an agreement with Caterpillar Financial Services (UK) Limited on the loan of $100 million. Caterpillar is the main supplier of mining machinery to KAZ Minerals mines – Bozshakol and Aktogay. The new loan line consists of two sub-lines of $40 million and $60 million. KAZ Minerals has pledged Caterpillar machinery (both…
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…
