KAZ Minerals PLC Production Report for 12 Months and the Fourth Quarter Ended 31 December 2014

• Full year copper cathode production from continuing operations 83.5 kt 
   - Achieved upper end of guidance, 80–85 kt
   - 2014 cathode production from continuing operations rose by 9%, supported by increase in copper in concentrate production
   - Movement from prior year also impacted by build-up of work in progress at the smelter during 2013
   - Increased recovery rate at Nikolayevsky concentrator following modernisation programme

• Q4 2014 copper cathode production from continuing operations 24.1 kt
   - Strong Q4 2014 copper cathode output of 24.1 kt (Q3 2014: 18.3 kt) as concentrate work in progress from the previous quarter was processed

• Full year by-product output from continuing operations robust
   - Zinc in concentrate output of 121 kt – ahead of guidance
   - Silver output of 3,435 koz – in line with guidance
   - Gold output of 34.6 koz – 4.0 koz gold in concentrate delivered from Bozymchak will be processed in 2015

• Basis of preparation – continuing operations versus discontinued operations
   - The ‘Mining Production – Retained Assets’ section contains production figures, comparative data and commentary that relate to the continuing operations in the East Region and Bozymchak
   - The ‘Group Production Summary’ section includes separate production data for the Disposal Assets that were under the ownership of the Group until the Restructuring was completed on 31 October 2014

Oleg Novachuk, Chief Executive, said: “Our continuing operations in the East Region delivered a strong fourth quarter of copper cathode production and we have achieved the upper end of our full year guidance. The fourth quarter also included copper cathode production from our new copper-gold mine at Bozymchak, which made its first shipment of concentrate to the Balkhash smelter in December 2014. We look forward to updating the market on 26 February 2015 with our full year results for 2014 and on progress at our major growth projects, Bozshakol and Aktogay.”


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