Monday, 30 March 2015

Smelter scoping study

KAZ Minerals PLC announces that it has signed an agreement with Baiyin Nonferrous Group Co., Ltd.  (“Baiyin”)  to jointly  perform  a  scoping  study  on  the  construction  of a  copper  smelter  in Kazakhstan. The  smelter  would  process  copper  concentrate  from  the Bozshakol  and  Aktogay mines.


Following  the  scoping  study any  decision  to  proceed  with  the  construction  of  a  smelter will be subject to further technical and economic evaluation and the availability of suitable financing.



KAZ  Minerals  PLC (“KAZ  Minerals” or “the Group”)  is  a  high  growth  copper  company  focused  on  large scale,  low  cost,  open  pit  mining  in  Kazakhstan. It  is  a  leading  copper  producer  in Kazakhstan with  five operating mines and four concentrators. In 2014, total copper cathode output from continuing operations was 84 kt. The  Group’s  continuing  operations also produced  121  kt  of  zinc  in  concentrate,  3,435 koz  of silver and 35 koz of gold in 2014.

The Group has two major copper projects under construction, Bozshakol and Aktogay, and a third, Koksay, at scoping stage. These projects are expected to deliver one of the highest growth rates in the industry and transform KAZ Minerals into a company dominated by world class open pit copper mines.

KAZ Minerals PLC is listed on the London Stock Exchange, the Kazakhstan Stock Exchange and the Hong Kong Stock Exchange and employs around 10,000 people, principally in Kazakhstan.


Baiyin was founded in 1954 and is a resources extraction and processing enterprise of significant scale based in the Gansu Province, West China, with two key major shareholders being the CITIC Group and the Gansu Provincial Government. Baiyin has developed and owns certain proprietary smelting technologies, and  operates  facilities  involved  in  the  processing  of  copper,  lead,  zinc,  nickel,  silver,  platinum  and  gold.

Baiyin is also a registered participant on the London Metal Exchange in the trading of zinc and lead. Baiyin’s international  footprints  mainly  include  gold  mining  operations  and  projects  in  South  Africa  and  a  copper tailings retreatment project in Peru, currently under construction.