KAZ Minerals PLC Notice of Results (5649H)
August 01 2019 - 5:00AM
UK Regulatory
TIDMKAZ
RNS Number : 5649H
KAZ Minerals PLC
01 August 2019
1 August 2019
NOTICE OF HALF-YEARLY RESULTS
FOR THE PERIOD ENDED 30 JUNE 2019
KAZ Minerals PLC will announce its half-yearly results for the
six months ended 30 June 2019 on Thursday 15 August 2019 at 7.00am
(UK time).
A presentation for analysts will be held in the Theatre &
Theatre Gallery at the London Stock Exchange, 10 Paternoster
Square, London EC4M 7LS on Thursday 15 August 2019 at 9.30am (UK
time).
The presentation for analysts can also be accessed by conference
call on Thursday 15 August 2019 at 9.30am (UK time). The dial-in
details are as follows:
Telephone: +44 (0) 20 3003 2666
Please quote the password: KAZ Minerals Interim Results 2019
A webcast of the presentation for analysts will also be
available on the KAZ Minerals website (www.kazminerals.com).
For further information please contact:
KAZ Minerals PLC
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Chris Bucknall Investor Relations, London Tel: +44 20 7901 7882
Anna Mallere Investor Relations, London Tel: +44 20 7901 7814
Maksut Zhapabayev Corporate Communications, Almaty Tel: +7 727 244 0353
====================== ================================= ======================
Brunswick Group
====================== ================================= ======================
Carole Cable, Charlie
Pretzlik Tel: +44 20 7404 5959
====================== ================================= ======================
REGISTERED OFFICE
6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL,
United Kingdom.
NOTES TO EDITORS
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, Russia and Kyrgyzstan. It operates the
Bozshakol and Aktogay open pit copper mines in the Pavlodar and
East Region of Kazakhstan, three underground mines and associated
concentrators in the East Region of Kazakhstan and the Bozymchak
copper-gold mine in Kyrgyzstan. In 2018, total copper production
was 295 kt with by-products of 50 kt of zinc in concentrate, 183
koz of gold and 3,511 koz of silver. In January 2019, the Group
acquired the Baimskaya project in the Chukotka region of Russia,
one of the world's most significant undeveloped copper assets with
the potential to become a large scale, low cost, open pit copper
mine.
The Group's new operations at Bozshakol and Aktogay have
delivered industry-leading production growth and transformed KAZ
Minerals into a company dominated by world class, open pit copper
mines.
Bozshakol is a first quartile asset on the global cost curve
with an annual ore processing capacity of 30 million tonnes and a
remaining mine life of 38 years at an average copper grade of
0.37%. The mine and processing facilities commenced output in 2016
and will produce an average of 100 kt of copper cathode equivalent
and 120 koz of gold in concentrate per year over the first 10 years
of operations.
Aktogay is a large scale, open pit mine similar to Bozshakol,
with a remaining mine life of 27 years (including the expansion
project) at an average copper grade of 0.36% (oxide) and 0.33%
(sulphide). Aktogay commenced production of copper cathode from
oxide ore in December 2015 and copper in concentrate from sulphide
ore in February 2017. The operating sulphide concentrator has an
annual ore processing capacity of 25 million tonnes and the
sulphide processing capacity will be doubled to 50 million tonnes
with the addition of a second concentrator by the end of 2021.
Aktogay is competitively positioned on the global cost curve and
will produce an average of 90 kt of copper per year from sulphide
ore until 2021, increasing to 170 kt per year from 2022 to 2027,
after the second concentrator commences operations. Copper
production from oxide ore will be in the region of 20 kt per annum
until 2025.
The Peschanka deposit within the Baimskaya licence area in
Russia has JORC resources of 9.5 Mt of copper at an average grade
of 0.43% and 16.5 Moz of gold at an average grade of 0.23 g/t.
Average annual production over the first ten years of operations is
expected to be 250 kt copper and 400 koz gold, or 330 kt Copper
Equivalent Production, with a mine life of approximately 25 years
and first quartile operating costs. The project is located in a
region identified by the Russian Government as strategically
important for economic development and will benefit from the
construction of state-funded power and transport infrastructure and
the provision of tax incentives. The estimated capital budget for
construction is $5.5 billion and the project is currently at
feasibility study stage. The Group expects the project to generate
a significant NPV uplift and an attractive IRR at analyst consensus
copper prices. The development of Baimskaya will enable the Group
to continue its high growth trajectory, adding a large-scale,
long-life asset to the Group's portfolio.
KAZ Minerals is listed on the London Stock Exchange and the
Kazakhstan Stock Exchange and employs around 14,000 people,
principally in Kazakhstan.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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