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…