Kazakhmys Q1 Production Report 2014 and IMS

Kazakhmys PLC Production Report for the First Quarter Ended 31 March 2014 and Interim Management Statement

• Copper cathode equivalent output of 69.5 kt
    - Ore extraction reduced in high cost areas to protect margins
       ▪ Extraction levels will be increased over the year
    - On track to meet annual production target of between 285 kt and 295 kt

• All by-product output in line with annual targets
    - First quarter output of silver 2,813 koz, gold 28.2 koz and zinc 31.7 kt

• Financial highlights
    - Copper cathode equivalent sales, in line with output at 69.6 kt
    - Net debt of $996 million at 31 March 2014
       ▪ $1.25 billion net proceeds from completion of Ekibastuz GRES-1 disposal received 2 April 2014
       ▪ Acquisition agreed of Group’s third major growth project – Koksay

Oleg Novachuk, Chief Executive Officer, said: “We have enjoyed a sound start to the year and are on track to deliver our production targets. Management remain focused on efficient production and have reduced output in high cost areas. We are making good progress with our restructuring review and look forward to updating stakeholders in the second half of the year.”

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