Thursday, 30 April 2015

KAZ Minerals Q1 Production Report 2015 and IMS

KAZ Minerals PLC Production Report for the First Quarter Ended 31 March 2015 and Interim Management Statement

• Copper cathode production 19.1 kt
    - Underlying copper in concentrate output of 21.5 kt
    - On target to meet 2015 cathode production target of 80-85 kt

• Strong zinc and silver output
    - Zinc in concentrate output of 25.1 kt (2015E 90-95 kt)
    - Silver granule output of 895 koz, benefiting from release of work in progress (2015E 2,250-2,500 koz)

• Gold output of 6.4 koz (2015E 42-47 koz)
    - Gold in concentrate output of 10.7 koz, not all processed in the period
    - Bozymchak to continue ramp up over the remainder of 2015

• Financial update
    - Copper cathode sales of 17.8 kt, slightly below production reflecting timing of deliveries over the period end
    - Net debt of $1,294 million at 31 March 2015

Oleg Novachuk, Chief Executive, said: “Our East Region operations have delivered a solid start to 2015, with efficient processing of materials. Copper production remains on track to achieve our guidance of 80-85 kt of cathode in 2015.”