TIDMKAZ
RNS Number : 9571W
KAZ Minerals PLC
29 April 2021
29 April 2021
KAZ MINERALS GROUP Production Report
for the first quarter Ended 31 march 2021
l Highlights
-- Group copper production(1) of 72.4 kt (Q4 2020: 75.7 kt), on
track to achieve annual guidance of 275-295 kt
-- Gold production(2) of 39.9 koz (Q4 2020: 35.9 koz) as
Bozymchak contributed for the full quarter following the restart of
operations in December 2020
-- Net debt of $2,410 million (31 December 2020: $2,601 million)
with $62 million of undrawn facilities and gross liquid funds of
$1,298 million (31 December 2020: $1,299 million)
l Covid-19 update
-- Ensuring the safety, health and wellbeing of employees and
contractors remains the Group's priority
-- Comprehensive measures, including testing and isolation,
remain in place to protect staff and mitigate the risk of
disruption to operations
-- These measures ensured that there was no major impact to the
Group's operations in Q1 resulting from
Covid-19, other than minor delays to shipments across the
Kazakhstan-China border
l Aktogay
-- Q1 copper production(1) rose to 33.9 kt (Q4 2020: 31.9 kt)
due to increased ore throughput and a higher average recovery
rate
-- Copper cathode production from oxide ore decreased to 3.3 kt
(Q4 2020: 4.6 kt) due to lower ambient temperatures and
maintenance
l Bozshakol
-- Copper production(2) reduced to 26.3 kt (Q4 2020: 31.3 kt)
due to a lower ore throughput as a result of maintenance at the
concentrators combined with lower average grades and recovery
rate
-- Gold production(2) of 26.2 koz (Q4 2020: 31.4 koz) impacted
by reduced ore processed volumes and lower average grades and
recovery rate
l East Region and Bozymchak
-- Copper production(2) of 12.2 kt (Q4 2020: 12.5 kt) as lower
grade material was processed
-- Gold production(2) of 13.7 koz (Q4 2020: 4.5 koz) following
the restart of operations at the Bozymchak mine
-- Silver production of 431 koz (Q4 2020: 362 koz) and zinc in
concentrate output of 9.6 kt (Q4 2020: 10.2 kt)
Group production summary(3) Q1 2021 Q4 2020 Q1 2020
============================= ===== ======== ======== ========
Copper production (1) kt 72.4 75.7 74.9
============================= ===== ======== ======== ========
Aktogay kt 33.9 31.9 33.3
============================= ===== ======== ======== ========
Bozshakol kt 26.3 31.3 29.8
============================= ===== ======== ======== ========
East Region & Bozymchak kt 12.2 12.5 11.8
============================= ===== ======== ======== ========
Gold production(2) koz 39.9 35.9 55.4
============================= ===== ======== ======== ========
Silver production(2) koz 763 732 793
============================= ===== ======== ======== ========
Zinc in concentrate kt 9.6 10.2 9.0
============================= ===== ======== ======== ========
(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: "The Group has
delivered another strong quarter, with copper production of 72 kt,
and is on track to achieve the full year guidance for all
metals."
For further information please contact:
KAZ Minerals PLC
====================== ================================= ========================
Ed Jack 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 03 53
====================== ================================= ========================
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
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 2020, total copper
production was 306 kt with by-products of 196 koz of gold, 3,374
koz of silver and 50 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 major 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 with a remaining mine
life of around 25 years (including the expansion project) at an
average copper grade of 0.27% (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
is expected to 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 is expected to 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
is expected to 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
0.35%. The mine and processing facilities commenced output in 2016
and are expected to produce an average of 100 kt of copper
production 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 measured, indicated and inferred resources of 9.9
Mt of copper at an average grade of 0.39% and 16.6 Moz of gold at
an average grade of 0.21 g/t. The project is located in a region
identified by the Russian Government as strategically important for
economic development and is expected to benefit from the
construction of some state-funded power and transport
infrastructure and the provision of tax incentives. The estimated
capital budget for construction is close to $8 billion.
KAZ Minerals is listed on the London and Kazakhstan Stock
Exchanges and employs around 16,000 people, principally in
Kazakhstan. The recommended cash acquisition of KAZ Minerals PLC by
Nova Resources B.V. was declared unconditional in all respects on 9
April 2021. The Company has applied to the London Stock Exchange
and the Financial Conduct Authority respectively to cancel the
admission of its ordinary shares to trading on the London Stock
Exchange's Main Market for listed securities and the admission to
listing of its ordinary shares on the premium listing segment of
the Official List; the Company has also applied to the Kazakhstan
Stock Exchange to cancel trading in its ordinary shares and the
listing of such shares on the official list of the Kazakhstan Stock
Exchange (together the "Delistings"). The Delistings are expected
to occur on 11 May 2021 and it is intended that the Company will be
re-registered as a private limited company.
AKTOGAY
Q1 2021 Q4 2020 Q1 2020
========================= ===== ======== ======== ========
Ore extraction kt 13,381 12,513 12,556
========================= ===== ======== ======== ========
Oxide kt 5,204 5,427 3,635
========================= ===== ======== ======== ========
Sulphide kt 8,177 7,086 8,921
========================= ===== ======== ======== ========
Oxide
========================= ===== ======== ======== ========
Oxide ore to leach pads kt 5,204 5,427 3,754
========================= ===== ======== ======== ========
Grade % 0.34 0.26 0.28
========================= ===== ======== ======== ========
Copper cathode kt 3.3 4.6 6.1
========================= ===== ======== ======== ========
Sulphide
========================= ===== ======== ======== ========
Sulphide ore processed kt 6,744 6,057 6,064
========================= ===== ======== ======== ========
Average grade processed % 0.55 0.56 0.57
========================= ===== ======== ======== ========
Recovery rate % 86.4 84.6 82.7
========================= ===== ======== ======== ========
Copper in concentrate kt 32.0 28.6 28.5
========================= ===== ======== ======== ========
Copper production(1) kt 30.6 27.3 27.2
========================= ===== ======== ======== ========
Total copper production kt 33.9 31.9 33.3
========================= ===== ======== ======== ========
Gold production(1, 2) koz - - 0.6
========================= ===== ======== ======== ========
Silver production(1) koz 146 121 118
========================= ===== ======== ======== ========
(1) Payable metal in concentrate.
(2) Minimal volume recovered from Aktogay material.
Ore extraction of 13,381 kt increased by 7% compared with the
previous quarter (Q4 2020: 12,513 kt) as a further 1.6 Mt of lower
grade sulphide material was stockpiled for future processing. Ore
extraction was 7% higher than the prior year comparative period (Q1
2020: 12,556 kt) mainly due to increased mining of oxide ore as
production in the first quarter of 2020 focused on the
re-irrigation of previously extracted material.
The average grade of sulphide ore processed of 0.55% was
marginally lower than the previous quarter (Q4 2020: 0.56%), in
line with expectations, and lower grade material is expected to be
processed over the remainder of 2021. Processing volumes of 6,744
kt (Q4 2020: 6,057 kt) increased by 11% compared to the previous
quarter when scheduled maintenance was performed. The average
copper recovery rate improved to 86.4% from the previous quarter
(Q4 2020: 84.6%) when there was a temporary variation in the ore
feed blend. Copper production from sulphide ore of 30.6 kt was 12%
higher than the previous quarter (Q4 2020: 27.3 kt) and 13% higher
than the prior year comparative period (Q1 2020: 27.2 kt), which
were both impacted by scheduled mill maintenance.
Copper cathode production reduced to 3.3 kt from 4.6 kt in the
previous quarter due to lower ambient temperatures and maintenance
in January and February. Cathode production was 46% lower than the
6.1 kt produced in Q1 2020, also driven by lower temperatures and
maintenance in the current year.
Total copper production of 33.9 kt was 6% higher than the
previous quarter (Q4 2020: 31.9 kt) and was supported by increased
ore throughput and a higher average recovery rate.
BOZSHAKOL
Q1 2021 Q4 Q1 2020
2020
============================== ===== ======== ====== ========
Ore extraction kt 9,230 9,833 7,705
============================== ===== ======== ====== ========
Sulphide kt 7,282 6,824 7,370
============================== ===== ======== ====== ========
Clay kt 1,948 3,009 335
============================== ===== ======== ====== ========
Ore processed kt 7,716 7,867 8,040
============================== ===== ======== ====== ========
Copper
============================== ===== ======== ====== ========
Average copper grade
processed % 0.46 0.52 0.48
============================== ===== ======== ====== ========
Copper recovery rate % 76.8 79.6 80.1
============================== ===== ======== ====== ========
Copper in concentrate kt 27.5 32.8 31.2
============================== ===== ======== ====== ========
Copper production(1) kt 26.3 31.3 29.8
============================== ===== ======== ====== ========
Gold
============================== ===== ======== ====== ========
Average gold grade processed g/t 0.21 0.24 0.28
============================== ===== ======== ====== ========
Gold recovery rate % 55.1 56.0 62.0
============================== ===== ======== ====== ========
Gold in concentrate koz 28.0 33.5 45.2
============================== ===== ======== ====== ========
Gold production(1) koz 26.2 31.4 42.3
============================== ===== ======== ====== ========
Silver production(1) koz 186 249 232
============================== ===== ======== ====== ========
(1) Payable metal in concentrate.
Ore extraction of 9,230 kt reduced by 6% compared with the
previous quarter (Q4 2020: 9,833 kt). Clay ore extraction reduced,
as expected, by 35% to 1,948 kt (Q4 2020: 3,009 kt) as in the prior
quarter additional clay volumes were stripped to access sulphide
ore. Sulphide ore extraction increased by 7% to 7,282 kt (Q4 2020:
6,824 kt) with some material stockpiled for future processing.
Total ore extraction was 20% higher than the prior year comparative
period when a limited amount of clay stripping was required.
The average grade of ore processed in Q1 reduced to 0.46% (Q4
2020: 0.52%), in line with the mine plan. Ore processing volumes
reduced by 2% to 7,716 kt (Q4 2020: 7,867 kt) as both the sulphide
and clay plants underwent maintenance. The average copper recovery
rate reduced to 76.8% (Q4 2020: 79.6%) reflecting higher sulphur
content in the main concentrator feed and an increased proportion
of oxidised ore from stockpiles processed at the clay plant.
Processing volumes were 4% lower than the prior year comparative
period (Q1 2020: 8,040 kt) due to the timing of scheduled
maintenance.
Copper production decreased by 16% to 26.3 kt compared with the
previous quarter (Q4 2020: 31.3 kt) due to reduced ore throughput
and lower average grades and recovery rates. Copper production was
12% lower than Q1 2020 due to lower ore throughput, grades and
recovery rates.
Gold production of 26.2 koz (Q4 2020: 31.4 koz) was impacted by
the lower volume of ore processed as well as lower grades and
recoveries of 0.21 g/t (Q4 2020: 0.24 g/t) and 55.1% (Q4 2020:
56.0%) respectively. Average gold recovery rates were negatively
impacted by the lower average gold grade as well as a high sulphur
content in the sulphide ore feed and the processing of oxidised ore
at the clay plant. As a result, gold production was 38% lower than
the prior year comparative period (Q1 2020: 42.3 koz).
Silver production of 186 koz was 25% lower than the previous
quarter (Q4 2020: 249 koz).
EAST REGION & BOZYMCHAK
Q1 2021 Q4 2020 Q1 2020
============================== ===== ======== ======== ========
Ore extraction kt 976 690 1,007
============================== ===== ======== ======== ========
Ore processed kt 852 705 808
============================== ===== ======== ======== ========
Copper
============================== ===== ======== ======== ========
Average grade processed % 1.67 2.07 1.69
============================== ===== ======== ======== ========
Orlovsky concentrator % 3.36 3.26 3.15
============================== ===== ======== ======== ========
Nikolayevsky concentrator % 1.45 1.54 1.35
============================== ===== ======== ======== ========
Bozymchak concentrator % 0.69 0.82 0.75
============================== ===== ======== ======== ========
Average recovery rate % 90.2 91.0 91.2
============================== ===== ======== ======== ========
East Region % 90.6 91.0 91.7
============================== ===== ======== ======== ========
Bozymchak % 87.2 89.5 87.9
============================== ===== ======== ======== ========
Copper in concentrate kt 12.9 13.2 12.4
============================== ===== ======== ======== ========
Orlovsky concentrator kt 6.4 6.8 6.8
============================== ===== ======== ======== ========
Nikolayevsky concentrator kt 4.8 6.1 3.9
============================== ===== ======== ======== ========
Bozymchak concentrator kt 1.7 0.3 1.7
============================== ===== ======== ======== ========
Copper production(1) kt 12.2 12.5 11.8
============================== ===== ======== ======== ========
East Region kt 10.6 12.2 10.2
============================== ===== ======== ======== ========
Bozymchak kt 1.6 0.3 1.6
============================== ===== ======== ======== ========
Gold production(1) koz 13.7 4.5 12.5
============================== ===== ======== ======== ========
Silver production(1) koz 431 362 443
============================== ===== ======== ======== ========
Zinc in concentrate kt 9.6 10.2 9.0
============================== ===== ======== ======== ========
(1) Payable metal in concentrate.
Ore extraction volumes of 976 kt increased by 41% versus the
previous quarter (Q4 2020: 690 kt) following the recommencement of
operations at the Bozymchak mine from 26 December 2020. Operations
at the mine were suspended from 7 October 2020 to ensure employee
safety during a period of political instability in Kyrgyzstan. Ore
extraction was 3% lower than the prior year comparative period with
less material extracted at all East Region mines.
Ore processing volumes increased to 852 kt from 705 kt in Q4
2020 due to the restart of operations at Bozymchak, but were below
the mined volumes as throughput at the Orlovsky concentrator in
January was impacted by challenging weather conditions. Throughput
at the Nikolayevsky concentrator was restricted during
commissioning works supporting the transition to the in-pit
tailings facility with some unprocessed ore from the Artemyevsky
and Irtyshsky mines stockpiled in the quarter for processing over
the remainder of the year. Processing volumes were 5% higher in Q1
2021 than the prior year comparative period (Q1 2020: 808 kt) when
the Nikolayevsky concentrator was idled for the whole of
January.
Copper production of 12.2 kt (Q4 2020: 12.5 kt) was 2% below the
previous quarter as a result of lower copper grades, as higher
grades at Orlovsky were offset by lower grades at Nikolayevsky.
Copper production was 3% higher than the prior year comparative
period (Q1 2020: 11.8 kt), when the Nikolayevsky concentrator was
idled for a longer period.
Gold production of 13.7 koz (Q4 2020: 4.5 koz) was significantly
higher than the previous quarter as Bozymchak operations were
sustained throughout the period with output in Q1 2021 of 11.0 koz
(Q4 2020: 1.5 koz).
Silver production increased to 431 koz (Q4 2020: 362 koz), in
line with higher processing volumes, and was 3% lower than the
prior year comparative period (Q1 2020: 443 koz).
Zinc in concentrate output of 9.6 kt declined by 6% compared
with the previous quarter mainly due to the processing of lower
grade Nikolayevsky ore of 1.37% (Q4 2020: 1.40%) which more than
offset higher average grades at Orlovsky of 4.43% (Q4 2020:
4.14%).
SALES VOLUMES, COMMODITY PRICES AND NET DEBT
Sales volumes
The following table sets out the sales volumes of the Group's
major products, compared with production.
Q1 Q1 Q1 Q1
2021 2021 2020 2020
Sales Production Sales Production
============================= ===== ======= =========== ======= ===========
Copper kt 67.8 72.4 69.0 74.9
============================= ===== ======= =========== ======= ===========
Copper cathode(1) kt 26.6 22.4 28.0 30.9
============================= ===== ======= =========== ======= ===========
Copper in concentrate(2) kt 41.2 50.0 41.0 44.0
============================= ===== ======= =========== ======= ===========
Gold(3) koz 32.5 39.9 54.4 55.4
============================= ===== ======= =========== ======= ===========
Silver(3) koz 641 763 846 793
============================= ===== ======= =========== ======= ===========
Zinc in concentrate kt 8.3 9.6 8.2 9.0
============================= ===== ======= =========== ======= ===========
(1) Copper cathode from Aktogay oxide ore and toll processed
metal.
(2) Payable metal in concentrate, excluding material sent for
toll processing.
(3) Payable metal in concentrate and toll processed metal.
Total copper sales volumes of 67.8 kt were below production of
72.4 kt due to the timing of copper in concentrate shipments, with
delays due to Covid-19 restrictions at the China-Kazakhstan border.
Copper cathode sales of 26.6 kt were above production of 22.4 kt
due to sales from inventories. Gold sales volumes of 32.5 koz were
also below production of 39.9 koz due to the timing of
shipments.
Provisionally priced copper in concentrate
At 31 March 2021, the Group's provisionally priced copper in
concentrate volumes were 20.5 kt at an average provisional price of
$7,915/t. There were no copper cathodes provisionally priced at 31
March 2021. The copper in concentrate provisional prices are below
LME quoted prices due to the deduction of treatment and refining
charges. For further details on the Group's provisional pricing
arrangements please refer to Note 4(b) of the 2020 Annual Report
and Accounts.
Commodity hedging
At 31 March 2021, there were no commodity price hedges in
place.
Net debt
Net debt decreased to $2,410 million at 31 March 2021 from
$2,601 million at 31 December 2021 as higher commodity prices led
to strong operating cash flows. This was partly offset by capital
expenditure mainly on the Aktogay expansion and Baimskaya copper
projects and semi-annual interest payments on the Group's CDB debt
facilities and monthly interest payments on the PXF totalling $55
million. MET and royalties and income tax payments in the first
quarter were $48 million, lower than the cost incurred, as a
portion of the amount due was offset against VAT receivable.
Total cash and cash equivalents and current investments at 31
March 2021 amounted to $1,298 million, with gross debt of $3,708
million. At 31 March 2021, $62 million remained undrawn against the
DBK Aktogay II ($51 million) and CAT ($11 million) facilities which
are intended to be drawn as the Aktogay expansion project
progresses and additional equipment deliveries are received from
Caterpillar.
APPIX - METAL PRODUCTION
Q1 2021 Q4 2020 Q 1
2020
=========================== ===== ======== ======== ==========
Copper production(1) kt 72.4 75.7 74.9
=========================== ===== ======== ======== ==========
Aktogay kt 33.9 31.9 33.3
=========================== ===== ======== ======== ==========
Bozshakol kt 26.3 31.3 29.8
=========================== ===== ======== ======== ==========
East Region kt 10.6 12.2 10.2
=========================== ===== ======== ======== ==========
Bozymchak kt 1.6 0.3 1.6
=========================== ===== ======== ======== ==========
Gold production(2) koz 39.9 35.9 55.4
=========================== ===== ======== ======== ==========
Aktogay koz - - 0. 6
=========================== ===== ======== ======== ==========
Bozshakol koz 26.2 31.4 42.3
=========================== ===== ======== ======== ==========
East Region koz 2.7 3.0 3.0
=========================== ===== ======== ======== ==========
Bozymchak koz 11.0 1.5 9.5
=========================== ===== ======== ======== ==========
Silver production(2) koz 763 732 793
=========================== ===== ======== ======== ==========
Aktogay koz 146 121 118
=========================== ===== ======== ======== ==========
Bozshakol koz 186 249 232
=========================== ===== ======== ======== ==========
East Region koz 361 353 379
=========================== ===== ======== ======== ==========
Bozymchak koz 70 9 64
=========================== ===== ======== ======== ==========
Zinc in concentrate kt 9.6 10.2 9.0
=========================== ===== ======== ======== ==========
East Region kt 9.6 10.2 9.0
=========================== ===== ======== ======== ==========
Molybdenum in concentrate t 125 103 97
=========================== ===== ======== ======== ==========
Aktogay t 95 55 55
=========================== ===== ======== ======== ==========
Bozshakol t 30 48 42
=========================== ===== ======== ======== ==========
(1) Payable metal in concentrate and copper cathode from Aktogay
oxide ore.
(2) Payable metal in concentrate.
TOLL PROCESSING & FINISHED METALS
Q 1 Q4 2020 Q 1
2021 2020
================================== ===== ====== ======== ==========
Copper cathodes kt 22.4 27.0 30.9
================================== ===== ====== ======== ==========
Aktogay sulphide (toll
processed) kt 5.6 6.9 10.0
================================== ===== ====== ======== ==========
Aktogay oxide kt 3.3 4.6 6.1
================================== ===== ====== ======== ==========
Bozshakol (toll processed) kt 4.2 2.8 5.7
================================== ===== ====== ======== ==========
East Region (toll processed) kt 8.8 11.5 7.5
================================== ===== ====== ======== ==========
Bozymchak (toll processed) kt 0.5 1.2 1.6
================================== ===== ====== ======== ==========
Gold bar produced (toll
processed) koz 7.2 16.7 18.3
================================== ===== ====== ======== ==========
Silver bar produced (toll
processed) koz 299 592 379
================================== ===== ====== ======== ==========
APPENDIX - EAST REGION & BOZYMCHAK
Q1 2021 Q4 2020 Q1 2020
=============================== ====== ========= ======== =========
Ore extraction kt 976 690 1,007
=============================== ====== ========= ======== =========
Orlovsky kt 228 233 237
=============================== ====== ========= ======== =========
Artemyevsky kt 294 298 309
=============================== ====== ========= ======== =========
Irtyshsky kt 124 128 131
=============================== ====== ========= ======== =========
Bozymchak kt 330 31 330
=============================== ====== ========= ======== =========
Ore processed kt 852 705 808
=============================== ====== ========= ======== =========
Orlovsky concentrator kt 211 233 236
=============================== ====== ========= ======== =========
Nikolayevsky concentrator kt 360 435 319
=============================== ====== ========= ======== =========
Bozymchak concentrator kt 281 37 253
=============================== ====== ========= ======== =========
Gold
=============================== ====== ========= ======== =========
Average grade processed g/t 0.82 0.50 0.83
=============================== ====== ========= ======== =========
East Region g/t 0.47 0.44 0.51
=============================== ====== ========= ======== =========
Bozymchak g/t 1.54 1.57 1.52
=============================== ====== ========= ======== =========
Average recovery rate % 64.7 43.2 62.0
=============================== ====== ========= ======== =========
East Region % 33.1 34.8 35.2
=============================== ====== ========= ======== =========
Bozymchak % 84.2 84.8 81.7
=============================== ====== ========= ======== =========
Gold in concentrate koz 14.6 4.9 13.3
=============================== ====== ========= ======== =========
East Region koz 2.9 3.3 3.2
=============================== ====== ========= ======== =========
Bozymchak koz 11.7 1.6 10.1
=============================== ====== ========= ======== =========
Gold production(1) koz 13.7 4.5 12.5
=============================== ====== ========= ======== =========
East Region koz 2.7 3.0 3.0
=============================== ====== ========= ======== =========
Bozymchak koz 11.0 1.5 9.5
=============================== ====== ========= ======== =========
Silver
=============================== ====== ========= ======== =========
Average grade processed g/t 29.9 31.5 31.9
=============================== ====== ========= ======== =========
East Region g/t 39.7 32.7 41.8
=============================== ====== ========= ======== =========
Bozymchak g/t 10.0 9.7 10.3
=============================== ====== ========= ======== =========
Average recovery rate % 57.8 55.7 58.6
=============================== ====== ========= ======== =========
East Region % 54.4 55.2 55.8
=============================== ====== ========= ======== =========
Bozymchak % 84.9 85.2 83.6
=============================== ====== ========= ======== =========
Silver in concentrate koz 473 397 487
=============================== ====== ========= ======== =========
East Region koz 396 388 417
=============================== ====== ========= ======== =========
Bozymchak koz 77 9 70
=============================== ====== ========= ======== =========
Silver production(1) koz 431 362 443
=============================== ====== ========= ======== =========
East Region koz 361 353 379
=============================== ====== ========= ======== =========
Bozymchak koz 70 9 64
=============================== ====== ========= ======== =========
Zinc
=============================== ====== ========= ======== =========
Average grade processed % 2.50 2.35 2.36
=============================== ====== ========= ======== =========
Orlovsky concentrator % 4.43 4.14 3.32
=============================== ====== ========= ======== =========
Nikolayevsky concentrator % 1.37 1.40 1.64
=============================== ====== ========= ======== =========
Average recovery rate % 67.1 65.4 68.7
=============================== ====== ========= ======== =========
Orlovsky concentrator % 69.9 71.7 69.5
=============================== ====== ========= ======== =========
Nikolayevsky concentrator % 61.8 55.5 67.8
=============================== ====== ========= ======== =========
Zinc in concentrate kt 9.6 10.2 9.0
=============================== ====== ========= ======== =========
Orlovsky concentrator kt 6.5 6.9 5.5
=============================== ====== ========= ======== =========
Nikolayevsky concentrator kt 3.1 3.3 3.5
=============================== ====== ========= ======== =========
(1) Payable metal in concentrate.
DEFINITIONS
CAT or Caterpillar
Caterpillar Financial Services (UK) Limited, a subsidiary of
Caterpillar Financial Services Corporation and Caterpillar Inc.
CAT facility
credit facility agreement with CAT
CDB or China Development Bank
China Development Bank Corporation
DBK
Development Bank of Kazakhstan
DBK Aktogay II facility
credit facility agreement with DBK relating to the Aktogay
expansion project
gross liquid funds
the aggregate amount of cash and cash equivalents and current
investments less restricted cash
the Group
KAZ Minerals PLC and its subsidiary companies
koz
thousand ounces
kt
thousand metric tonnes
LME
London Metal Exchange
MET
mineral extraction tax
Mt
million metric tonnes
net debt
the excess of current and non-current borrowings over gross
liquid funds
ounce or oz
a troy ounce, which equates to 31.1035 grammes
PXF
pre-export finance debt facility
SX/EW
solvent extraction and electrowinning, a two-stage metallurgy
process used for the extraction of copper
t
metric tonnes
TC/RCs
treatment charges and refining charges for smelting and refining
services
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END
DRLUWVSRAAUSUAR
(END) Dow Jones Newswires
April 29, 2021 02:00 ET (06:00 GMT)
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