TIDMKAZ
RNS Number : 5363U
KAZ Minerals PLC
30 July 2020
30 July 2020
KAZ MINERALS GROUP Production Report for six months and THE
second QUARTER Ended 30 June 2020
l Highlights
-- H1 2020 copper production(1) increased by 4% to 153.8 kt (H1
2019: 147.6 kt) driven by high ore throughput and improved grades
at Bozshakol
-- Gold production(2) increased by 25% to 109.7 koz (H1 2019:
87.7 koz) due to higher processing volumes and grades at
Bozshakol
-- All metals currently on track to achieve full year production
guidance but Covid-19 risks elevated in second half
l Aktogay
-- First half copper production(1) of 67.6 kt (H1 2019: 74.1 kt)
as stronger than planned sulphide copper grades of 0.56% (H1 2019:
0.58%) were offset by temporarily lower recovery rates and ore
throughput in Q1
-- Q2 copper production(1) increased by 3% to 34.3 kt (Q1 2020:
33.3 kt) due to higher recovery rates and ore throughput following
scheduled maintenance in January
-- On track for full year copper production(1) guidance of
120-130 kt, lower grades expected in the second half
l Bozshakol
-- Copper production(2) increased 28% in H1 2020 to 60.4 kt (H1
2019: 47.1 kt) with higher grades and an 18% increase in ore
throughput, due to deferral of maintenance and the suspension of
the clay plant in H1 2019
-- First half gold production(2) 40% higher at 83.3 koz (H1
2019: 59.6 koz), also benefiting from higher processing volumes and
grades
-- Full year copper and gold guidance unchanged at 110-120 kt
and 140-150 koz with scheduled maintenance in the second half
l East Region and Bozymchak
-- Copper production(2) in H1 2020 of 25.8 kt (H1 2019: 26.4 kt)
with increased output in Q2 of 14.0 kt (Q1 2020: 11.8 kt) as the
Nikolayevsky concentrator operated at full capacity following
planned idling in January
-- H1 2020 gold production(2) of 25.8 koz (H1 2019: 26.4 koz)
with higher output in Q2 of 13.3 koz (Q1 2020: 12.5 koz) also
benefiting from the increased processing at Nikolayevsky
-- Zinc in concentrate output of 23.8 kt (H1 2019: 18.4 kt), due
to higher grades of 2.62% (H1 2019: 2.11%)
-- Full year guidance maintained for all metals
l Covid-19 update
-- Ensuring the safety, health and wellbeing of employees and
contractors is the Group's first priority and comprehensive
measures have been taken to protect staff
-- There has been no material disruption to operations or sales
from Covid-19 to date. However, Kazakhstan imposed a second phase
of quarantine measures from 5 July 2020 reflecting heightened risk
in the country and to the Group's operations for the second half of
the year
-- Ongoing restrictions on the movement of staff and contractors
and deferred maintenance may impact production and unit costs in
the second half
6m
Group production summary(3) 6m 2020 2019 Q2 2020 Q1 2020 Q2 2019
==================================== ======== ======= ======== ========
Copper production(1) kt 153.8 147.6 78.9 74.9 77.6
============================= ===== ======== ======= ======== ======== ========
Aktogay kt 67.6 74.1 34.3 33.3 37.4
============================= ===== ======== ======= ======== ======== ========
Bozshakol kt 60.4 47.1 30.6 29.8 23.3
============================= ===== ======== ======= ======== ======== ========
East Region & Bozymchak kt 25.8 26.4 14.0 11.8 16.9
============================= ===== ======== ======= ======== ======== ========
Gold production(2) koz 109.7 87.7 54.3 55.4 44.3
============================= ===== ======== ======= ======== ======== ========
Silver production(2) koz 1,741 1,552 948 793 926
============================= ===== ======== ======= ======== ======== ========
Zinc in concentrate kt 23.8 18.4 14.8 9.0 12.2
============================= ===== ======== ======= ======== ======== ========
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
(2) Payable metal in concentrate.
(3) See appendix for metal production by asset.
Andrew Southam, Chief Executive Officer, said: "In the second
quarter of 2020 KAZ Minerals grew copper production across all of
its divisions and delivered a 5% increase in Group output. This is
an excellent performance in a challenging operating environment and
reflects the dedication and resilience of our employees. We are
entering the second half of the year with an elevated level of
Covid-19 risk, however production of all metals is currently on
track to achieve our full year targets."
For further information please contact:
KAZ Minerals PLC
================== =========================== ======================
Chris Bucknall Investor Relations, London Tel: +44 20 7901 7882
Anna Mallere Investor Relations, London Tel: +44 20 7901 7814
Maksut Zhapabayev Corporate Communications, Tel: + 7 727 244 03
Almaty 53
================== =========================== ======================
Brunswick Group
================== =========================== ======================
Carole Cable, Charlie Pretzlik Tel: +44 20 7404 5959
=============================================== ======================
REGISTERED OFFICE
6(th) 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
Aktogay and Bozshakol open pit copper mines in the East Region and
Pavlodar region of Kazakhstan, three underground mines and
associated concentrators in the East Region of Kazakhstan and the
Bozymchak copper-gold mine in Kyrgyzstan. In 2019, total copper
production was 311 kt with by-products of 201 koz of gold, 3,382
koz of silver and 38 kt of zinc in concentrate. The Group acquired
the Baimskaya project in the Chukotka region of Russia in January
2019, 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 Aktogay and Bozshakol have
delivered industry leading production growth and transformed KAZ
Minerals into a company dominated by world class, open pit copper
mines.
Aktogay is a large scale, open pit mine similar to Bozshakol,
with a remaining mine life of around 25 years (including the
expansion project) at an average copper grade of 0.35% (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 100 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 2024.
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 c.40 years at an average copper grade of
0.36%. 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.
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. 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 around $7 billion, with c.10% to
be incurred after the commencement of production. The detailed
parameters of the project are to be confirmed on completion of the
feasibility study by the end of 2020. 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 16,000 people,
principally in Kazakhstan.
AKTOGAY
6m
6m 2020 2019 Q2 2020 Q1 2020 Q2 2019
=============================== ======== ========= ======== ======== =========
7,1
Ore extraction kt 19,674 24,216 18 12,556 13,199
========================= ===== ======== ========= ======== ======== =========
Oxide kt 3,671 8,193 3 6 3,635 5,013
========================= ===== ======== ========= ======== ======== =========
Sulphide kt 16,033 16,023 7, 082 8,921 8,186
========================= ===== ======== ========= ======== ======== =========
Oxide
================================ ======== ========= ======== ======== =========
Oxide ore to leach pads kt 3,790 8,193 36 3,754 5,013
========================= ===== ======== ========= ======== ======== =========
Grade % 0.28 0.32 0.19 0.28 0.34
========================= ===== ======== ========= ======== ======== =========
5.
Copper cathode kt 11.5 11.8 4 6.1 6.1
========================= ===== ======== ========= ======== ======== =========
Sulphide
================================ ======== ========= ======== ======== =========
Sulphide ore processed kt 12,344 12,733 6,280 6,064 6,293
========================= ===== ======== ========= ======== ======== =========
Average grade processed % 0.56 0.58 0.55 0.57 0.59
========================= ===== ======== ========= ======== ======== =========
Recovery rate % 84.8 88.8 86.8 82.7 88.8
========================= ===== ======== ========= ======== ======== =========
30.
Copper in concentrate kt 58.7 65.2 2 28.5 32.8
========================= ===== ======== ========= ======== ======== =========
28.
Copper production(1) kt 56.1 62.3 9 27.2 31.3
========================= ===== ======== ========= ======== ======== =========
Total copper production kt 67.6 74.1 34.3 33.3 37.4
========================= ===== ======== ========= ======== ======== =========
Gold production(1, 2) koz 0.6 1.7 - 0.6 0.8
========================= ===== ======== ========= ======== ======== =========
Silver production(1) koz 246 288 128 118 145
========================= ===== ======== ========= ======== ======== =========
(1) Payable metal in concentrate.
(2) Minimal volume recovered from Aktogay material.
Ore extraction at Aktogay reduced by 19% to 19,674 kt in H1 2020
(H1 2019: 24,216 kt) as oxide production focused on the
re-irrigation of previously extracted material and oxide ore mining
was temporarily suspended. Sulphide ore extraction of 16,033 kt (H1
2019: 16,023 kt) remained above the level required to feed the main
concentrator as mine development works continued in preparation for
the Aktogay expansion project. Total ore extraction in Q2 of 7,118
kt was 43% lower than the previous quarter (Q1 2020: 12,556 kt),
mainly due to the temporary suspension of oxide ore mining. Mining
of oxide ore is scheduled to recommence in Q3 2020.
Sulphide ore processing volumes in H1 of 12,344 kt were 3% below
the prior year comparative period (H1 2019: 12,733 kt), whilst
processing volumes in Q2 of 6,280 kt were 4% above the previous
quarter (Q1 2020: 6,064 kt), reflecting the scheduled maintenance
performed at the start of the year. The average copper grade of
sulphide ore processed in H1 2020 reduced to 0.56% from 0.58% in H1
2019, with lower grade material expected to be processed in H2
2020.
Copper production from sulphide ore reduced by 10% to 56.1 kt in
H1 2020 (H1 2019: 62.3 kt) due to the 3% reduction in processing
volumes, lower average copper grade and temporarily lower recovery
rate of 84.8% (H1 2019: 88.8%) caused by a variation in the ore
feed blend in Q1. Copper production in Q2 rose to 28.9 kt (Q1 2020:
27.2 kt) as lower average copper grades of 0.55% (Q1 2020: 0.57%)
were more than offset by higher ore processing volumes and as
recovery rates increased to 86.8% (Q1 2020: 82.7%).
Copper cathode production from oxide ore in the first half
remained stable at 11.5 kt (H1 2019: 11.8 kt) as a modified SX/EW
plant configuration recovered sufficient quantities of copper from
the re-irrigation of ore previously placed on heap leach cells,
with cathode production of 5.4 kt in Q2 (Q1 2020: 6.1 kt). Copper
production from oxide ore remains on track to achieve full year
guidance of c.20 kt.
Total copper production in the first half reduced, as expected,
by 9% to 67.6 kt (H1 2019: 74.1 kt) and is on target to deliver
full year copper production guidance of 120-130 kt. Average
sulphide copper grades are expected to decline in the second half
and production is subject to the risk of Covid-19 related
disruption.
Measures taken to control Covid-19 risks at Aktogay in the first
half included additional hygiene procedures, the extension of staff
rotations through overtime for around two months from 22 March and
increased stocking of critical spares and consumables. When staff
rotations resumed at the end of May, a revised shift pattern was
adopted to reduce the number of rotations required and a testing
and isolation process was established for all new arrivals. To
support the Group's Covid-19 response, a PCR testing facility was
recently established at Aktogay. Restrictions on the movement of
people are limiting access to site for contractors and
international staff and if not resolved may have a negative impact
on maintenance and other activities in the second half.
BOZSHAKOL
6m
6m 2020 2019 Q2 2020 Q1 2020 Q2 2019
==================================== ======== ======== ======== ======== ========
Ore extraction kt 14,262 17,502 6,557 7,705 8,608
============================== ===== ======== ======== ======== ======== ========
Sulphide kt 13,246 11,446 5,876 7,370 5,613
============================== ===== ======== ======== ======== ======== ========
Clay kt 1,016 6,056 681 335 2,995
============================== ===== ======== ======== ======== ======== ========
Ore processed kt 15,635 13,248 7,595 8,040 6,438
============================== ===== ======== ======== ======== ======== ========
Copper
===================================== ======== ======== ======== ======== ========
Average copper grade
processed % 0.50 0.45 0.53 0.48 0.46
============================== ===== ======== ======== ======== ======== ========
Copper recovery rate % 80.2 82.8 80.2 80.1 82.6
============================== ===== ======== ======== ======== ======== ========
Copper in concentrate kt 63.3 49.3 32.1 31.2 24.3
============================== ===== ======== ======== ======== ======== ========
Copper production(1) kt 60.4 47.1 30.6 29.8 23.3
============================== ===== ======== ======== ======== ======== ========
Gold
===================================== ======== ======== ======== ======== ========
Average gold grade processed g/t 0.29 0.25 0.29 0.28 0.25
============================== ===== ======== ======== ======== ======== ========
Gold recovery rate % 61.9 59.7 61.9 62.0 60.6
============================== ===== ======== ======== ======== ======== ========
Gold in concentrate koz 89.1 63.7 43.9 45.2 31.6
============================== ===== ======== ======== ======== ======== ========
Gold production(1) koz 83.3 59.6 41.0 42.3 29.6
============================== ===== ======== ======== ======== ======== ========
Silver production (1) koz 465 334 233 232 165
============================== ===== ======== ======== ======== ======== ========
(1) Payable metal in concentrate.
Ore extraction in H1 2020 reduced by 19% to 14,262 kt (H1 2019:
17,502 kt) due to a reduction in the stripping of clay required to
access sulphide material, in line with the mine plan, which was
partially offset by a 16% increase in the extraction of sulphide
ore. Ore extraction of 6 , 557 kt in Q2 was 15% lower compared with
the previous quarter (Q1 2020: 7,705 kt) due to the processing of
stockpiled sulphide ore.
Ore processing volumes in H1 2020 increased by 18% to 15,635 kt
(H1 2019: 13,248 kt) due to higher ore throughput at both the main
sulphide and clay concentrators. A scheduled mill relining at the
main sulphide concentrator was postponed to Q3 due to the impact of
Covid-19 on contractor availability whilst clay processing volumes
increased by 125% to 2,893 kt compared with 1,285 kt in H1 2019,
when the clay plant was suspended during upgrade works. Total ore
processing volumes in Q2 were 6% lower at 7,595 kt (Q1 2020: 8,040
kt) due to minor maintenance stoppages at the sulphide plant in the
quarter.
The average grade of copper processed in H1 2020 increased, as
previously guided and in line with the mine plan, to 0.50% from
0.45% in H1 2019. In Q2 2020, grades increased to 0.53% (Q1 2020:
0.48%).
Copper production in H1 2020 increased by 28% to 60.4 kt (H1
2019: 47.1 kt) due to the increased ore throughput and higher
copper grades. Copper production of 30.6 kt in Q2 2020 was 3% above
the previous quarter (Q1 2020: 29.8 kt) as lower processing volumes
were more than offset by higher grades.
Full year guidance for copper production is maintained at
110-120 kt, as operations may be subject to Covid-19 related
disruption and scheduled maintenance is weighted towards the second
half of the year.
Gold production increased by 40% to 83.3 koz in H1 2020 (H1
2019: 59.6 koz) due to the increase in processing volumes, a higher
average gold grade of 0.29 g/t (H1 2019: 0.25 g/t) and an improved
recovery rate. Gold output was 3% lower in Q2 2020 at 41.0 koz (Q1
2020: 42.3 koz) due to lower processing volumes. Gold production is
expected to reduce in the second half of the year due to declining
grades and lower processing volumes. Full year guidance for gold
production is maintained at 140-150 koz.
First half silver production increased by 39% to 465 koz (H1
2019: 334 koz) due to higher processing volumes and grades, whilst
Q2 production of 233 koz was in line with the previous quarter (Q1
2020: 232 koz). Silver output is unchanged at c.700 koz, reflecting
lower expected H2 processing volumes.
Similar measures to those taken at Aktogay were implemented at
Bozshakol to manage Covid-19 risks, with staff rotations extended
through overtime for approximately two months from 22 March.
Rotations resumed at the end of May with new arrivals subject to
testing and isolation before commencing work. A revised shift
pattern has also been adopted to reduce the number of rotations
required. Bozshakol's testing and isolation procedures have
resulted in a shortage of mining staff which has prevented the
operation of the full mobile fleet. To maintain feed to the
processing plants mining operations have focused on supplying
material with shorter haul distances and waste stripping activities
have been reduced and if disruption continues it may be necessary
to utilise lower grade stockpiled ore. Restrictions on the movement
of people are limiting access to site for contractors and
international staff and if not resolved may have a negative impact
on maintenance and other activities in the second half.
EAST REGION & BOZYMCHAK
6m 2020 6m Q2 2020 Q1 Q2 2019
2019 2020
================================ ===== ======== ======= ======== ======= ========
Ore extraction kt 2,066 1,942 1,059 1,007 995
================================ ===== ======== ======= ======== ======= ========
Ore processed kt 1,785 1,793 977 808 1,168
================================ ===== ======== ======= ======== ======= ========
Copper
======================================= ======== ======= ======== ======= ========
Average grade processed % 1.70 1.72 1.70 1.69 1.68
================================ ===== ======== ======= ======== ======= ========
Orlovsky concentrator % 3.10 3.10 3.06 3.15 3.17
================================ ===== ======== ======= ======== ======= ========
Nikolayevsky concentrator % 1.47 1.52 1.55 1.35 1.52
================================ ===== ======== ======= ======== ======= ========
Belousovsky concentrator(1) % - 1.31 - - 1.31
================================ ===== ======== ======= ======== ======= ========
Bozymchak concentrator % 0.75 0.82 0.75 0.75 0.83
================================ ===== ======== ======= ======== ======= ========
Average recovery rate % 90.0 90.5 89.0 91.2 91.0
================================ ===== ======== ======= ======== ======= ========
East Region % 90.3 91.1 89.1 91.7 91.5
================================ ===== ======== ======= ======== ======= ========
Bozymchak % 88.0 87.1 88.1 87.9 87.5
================================ ===== ======== ======= ======== ======= ========
Copper in concentrate kt 27.2 28.0 14.8 12.4 18.0
================================ ===== ======== ======= ======== ======= ========
Orlovsky concentrator kt 13.0 13.9 6.2 6.8 7.1
================================ ===== ======== ======= ======== ======= ========
Nikolayevsky concentrator kt 10.9 7.3 7.0 3.9 7.3
================================ ===== ======== ======= ======== ======= ========
Belousovsky concentrator(1) kt - 3.1 - - 1.7
================================ ===== ======== ======= ======== ======= ========
Bozymchak concentrator kt 3.3 3.7 1.6 1.7 1.9
================================ ===== ======== ======= ======== ======= ========
Copper production(2) kt 25.8 26.4 14.0 11.8 16.9
================================ ===== ======== ======= ======== ======= ========
East Region kt 22.6 22.9 12.4 10.2 15.1
================================ ===== ======== ======= ======== ======= ========
Bozymchak kt 3.2 3.5 1.6 1.6 1.8
================================ ===== ======== ======= ======== ======= ========
Gold production(2) koz 25.8 26.4 13.3 12.5 13.9
================================ ===== ======== ======= ======== ======= ========
Silver production(2) koz 1,030 930 587 443 616
================================ ===== ======== ======= ======== ======= ========
Zinc in concentrate kt 23.8 18.4 14.8 9.0 12.2
================================ ===== ======== ======= ======== ======= ========
(1) Operations ceased in Q4 2019.
(2) Payable metal in concentrate.
Ore extraction volumes in H1 2020 of 2,066 kt were 6% higher
than the prior year comparative period (H1 2019: 1,942 kt) and
extraction volumes rose by 5% in Q2 2020 to 1,059 kt (Q1 2020:
1,007 kt), with both increases due to additional mining and
stockpiling of low grade ore at Bozymchak.
Ore processing volumes in H1 2020 of 1,785 kt were in line with
the first half of 2019 (H1 2019: 1,793 kt) with a higher proportion
processed at the Nikolayevsky concentrator, which has been supplied
with ore from the Irtyshsky mine in addition to Artemyevsky ore
since Q4 2019. The average copper grade processed in H1 2020
reduced slightly to 1.70% (H1 2019: 1.72%) with reduced grades at
Bozymchak, as expected. In Q2 2020, average copper grades processed
remained stable as lower grades at Orlovsky of 3.06% (Q1 2020:
3.15%) were offset by higher grades at Nikolayevsky of 1.55% (Q1
2020: 1.35%).
Copper production of 25.8 kt was 2% below the prior comparative
period (H1 2019: 26.4 kt). However, output in Q2 2020 increased by
19% to 14.0 kt (Q1 2020: 11.8 kt), driven mainly by increased ore
processing volumes at the Nikolayevsky concentrator following its
planned idling in January. The East Region and Bozymchak mines are
currently on track to achieve full year copper production guidance
of c.50 kt.
Gold production in H1 2020 was 25.8 koz (H1 2019: 26.4 koz).
Output increased to 13.3 koz in Q2 from 12.5 koz in Q1 2020 due to
higher output from the East Region concentrators, driven by both
higher throughput and grades. Gold production from the East Region
and Bozymchak is well positioned to achieve the full year guidance
of 40-50 koz.
Silver production in H1 2020 was 1,030 koz (H1 2019: 930 koz),
with increased output in Q2 2020 of 587 koz (Q1 2020: 443 koz), in
line with changes in processing volumes and increased silver grades
in the East Region. Silver production is on track to achieve full
year guidance of c.1,800 koz.
Zinc in concentrate output of 23.8 kt in H1 2020 was 29% above
the prior year comparative period (H1 2019: 18.4 kt) as a result of
higher average zinc grades in all East Region mines. Zinc in
concentrate production rose in Q2 2020 to 14.8 kt (Q1 2020: 9.0 kt)
driven by increased processing volumes and higher zinc grades at
all mines, which remain variable. Zinc in concentrate production is
on track to achieve full year guidance of c.40 kt.
Achieving full year guidance for all metals is subject to
potential disruption from Covid-19 in the second half of the year.
Measures have been taken to protect the East Region and Bozymchak
sites from the impact of Covid-19. However, workers commute daily
to the East Region mines and risks have become heightened following
an increase in the number of Covid-19 cases in Kazakhstan and
current limitations on the availability of testing services.
APPIX - METAL PRODUCTION
Q 2
Q 2 201
6m 2020 6m 2020 Q 1 9
2019 2020
=========================== ===== ========== ====== ========== ========== =====
Copper production(1) kt 153.8 147.6 78.9 74.9 77.6
=========================== ===== ========== ====== ========== ========== =====
Aktogay kt 67.6 74.1 34.3 33.3 37.4
=========================== ===== ========== ====== ========== ========== =====
Bozshakol kt 60.4 47.1 30.6 29.8 23.3
=========================== ===== ========== ====== ========== ========== =====
East Region kt 22.6 22.9 12.4 10.2 15.1
=========================== ===== ========== ====== ========== ========== =====
Bozymchak kt 3.2 3.5 1.6 1.6 1.8
=========================== ===== ========== ====== ========== ========== =====
Gold production(2) koz 109.7 87.7 54.3 55.4 44.3
=========================== ===== ========== ====== ========== ========== =====
Aktogay koz 0.6 1.7 - 0. 6 0.8
=========================== ===== ========== ====== ========== ========== =====
Bozshakol koz 83.3 59.6 41.0 42.3 29.6
=========================== ===== ========== ====== ========== ========== =====
East Region koz 7.0 5.6 4.0 3.0 3.7
=========================== ===== ========== ====== ========== ========== =====
Bozymchak koz 18.8 20.8 9.3 9.5 10.2
=========================== ===== ========== ====== ========== ========== =====
Silver production(2) koz 1,741 1,552 948 793 926
=========================== ===== ========== ====== ========== ========== =====
Aktogay koz 246 288 128 118 145
=========================== ===== ========== ====== ========== ========== =====
Bozshakol koz 465 334 233 232 165
=========================== ===== ========== ====== ========== ========== =====
East Region koz 905 796 526 379 548
=========================== ===== ========== ====== ========== ========== =====
Bozymchak koz 125 134 61 64 68
=========================== ===== ========== ====== ========== ========== =====
Zinc in concentrate kt 23.8 18.4 14.8 9.0 12.2
=========================== ===== ========== ====== ========== ========== =====
East Region kt 23.8 18.4 14.8 9.0 12.2
=========================== ===== ========== ====== ========== ========== =====
Molybdenum in concentrate t 218 49 121 97 22
=========================== ===== ========== ====== ========== ========== =====
Aktogay t 154 - 99 55 -
=========================== ===== ========== ====== ========== ========== =====
Bozshakol t 64 49 22 42 22
=========================== ===== ========== ====== ========== ========== =====
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
(2) Payable metal in concentrate.
TOLL PROCESSING & FINISHED METALS
6m 2020 6m Q2 2020 Q1 Q2 2019
2019 2020
================================== ===== ========== ====== ========= ========== ========
Copper cathodes kt 69.0 62.7 38.1 30.9 32.7
================================== ===== ========== ====== ========= ========== ========
Aktogay sulphide (toll
processed) kt 21.3 20.3 11.3 10.0 10.6
================================== ===== ========== ====== ========= ========== ========
Aktogay oxide kt 11.5 11.8 5.4 6.1 6.1
================================== ===== ========== ====== ========= ========== ========
Bozshakol (toll processed) kt 11.2 4.7 5.5 5.7 1.8
================================== ===== ========== ====== ========= ========== ========
East Region (toll processed) kt 21.8 22.1 14.3 7.5 12.1
================================== ===== ========== ====== ========= ========== ========
Bozymchak (toll processed) kt 3.2 3.8 1.6 1.6 2.1
================================== ===== ========== ====== ========= ========== ========
Gold bar produced (toll
processed) koz 40.5 33.8 22.2 18.3 16.7
================================== ===== ========== ====== ========= ========== ========
Silver bar produced (toll
processed) koz 1,075 1,045 696 379 418
================================== ===== ========== ====== ========= ========== ========
APPIX - EAST REGION & BOZYMCHAK
6m 2020 6m Q2 2020 Q1 Q2 2019
2019 2020
================================= ====== ========== ====== ======== ========== ========
Ore extraction kt 2,066 1,942 1,059 1,007 995
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Orlovsky kt 471 490 234 237 244
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Artemyevsky kt 617 611 308 309 326
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Irtyshsky kt 266 300 135 131 149
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Bozymchak kt 712 541 382 330 276
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Ore processed kt 1,785 1,793 977 808 1,168
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Orlovsky concentrator kt 469 490 233 236 244
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Nikolayevsky concentrator kt 811 514 492 319 514
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Belousovsky concentrator(1) kt - 276 - - 150
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Bozymchak concentrator kt 505 513 252 253 260
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Gold
========================================= ========== ====== ======== ========== ========
Average grade processed g/t 0.79 0.73 0.76 0.83 0.60
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East Region g/t 0.52 0.39 0.53 0.51 0.33
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Bozymchak g/t 1.48 1.58 1.43 1.52 1.55
================================= ====== ========== ====== ======== ========== ========
Average recovery rate % 60.3 66.8 58.9 62.0 65.7
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East Region % 34.8 37.2 34.4 35.2 41.2
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Bozymchak % 83.2 84.9 84.8 81.7 83.9
================================= ====== ========== ====== ======== ========== ========
Gold in concentrate koz 27.4 28.1 14.1 13.3 14.8
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East Region koz 7.4 5.9 4.2 3.2 3.9
================================= ====== ========== ====== ======== ========== ========
Bozymchak koz 20.0 22.2 9.9 10.1 10.9
================================= ====== ========== ====== ======== ========== ========
Gold production(2) koz 25.8 26.4 13.3 12.5 13.9
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East Region koz 7.0 5.6 4.0 3.0 3.7
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Bozymchak koz 18.8 20.8 9.3 9.5 10.2
================================= ====== ========== ====== ======== ========== ========
Silver
========================================= ========== ====== ======== ========== ========
Average grade processed g/t 34.1 29.5 36.0 31.9 30.2
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East Region g/t 43.7 36.6 45.1 41.8 35.5
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Bozymchak g/t 10.0 11.8 9.8 10.3 11.7
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Average recovery rate % 57.8 60.2 57.1 58.6 59.6
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East Region % 55.4 58.1 55.0 55.8 58.1
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Bozymchak % 84.4 75.9 85.3 83.6 75.7
================================= ====== ========== ====== ======== ========== ========
Silver in concentrate koz 1,133 1,022 646 487 677
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East Region koz 995 875 578 417 603
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Bozymchak koz 138 147 68 70 74
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Silver production(2) koz 1,030 930 587 443 616
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East Region koz 905 796 526 379 548
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Bozymchak koz 125 134 61 64 68
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Zinc
========================================= ========== ====== ======== ========== ========
Average grade processed % 2.62 2.11 2.82 2.36 1.96
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Orlovsky concentrator % 4.06 2.03 4.82 3.32 1.84
================================= ====== ========== ====== ======== ========== ========
Nikolayevsky concentrator % 1.79 1.69 1.88 1.64 1.69
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Belousovsky concentrator(1) % - 3.03 - - 3.11
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Average recovery rate % 70.9 68.2 72.3 68.7 68.7
================================= ====== ========== ====== ======== ========== ========
Orlovsky concentrator % 70.5 60.9 71.3 69.5 56.3
================================= ====== ========== ====== ======== ========== ========
Nikolayevsky concentrator % 71.5 73.0 73.6 67.8 73.0
================================= ====== ========== ====== ======== ========== ========
Belousovsky concentrator(1) % - 71.8 - - 72.8
================================= ====== ========== ====== ======== ========== ========
Zinc in concentrate kt 23.8 18.4 14.8 9.0 12.2
================================= ====== ========== ====== ======== ========== ========
Orlovsky concentrator kt 13.5 6.0 8.0 5.5 2.5
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Nikolayevsky concentrator kt 10.3 6.4 6.8 3.5 6.4
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Belousovsky concentrator(1) kt - 6.0 - - 3.4
================================= ====== ========== ====== ======== ========== ========
(1) Operations ceased in Q4 2019.
(2) Payable metal in concentrate.
DEFINITIONS
the Group
KAZ Minerals PLC and its subsidiary companies
koz
thousand ounces
kt
thousand metric tonnes
Mt
million metric tonnes
ounce or oz
a troy ounce, which equates to 31.1035 grammes
PCR test
polymerase chain reaction test
SX/EW
solvent extraction and electrowinning, a two-stage metallurgy
process used for the extraction of copper
t
metric tonnes
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
DRLFLFFADIIAFII
(END) Dow Jones Newswires
July 30, 2020 02:00 ET (06:00 GMT)
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