KAZ Minerals: Q4 2019 production report
KAZ Minerals Group production report for twelve months and the fourth quarter ended 31 December 2019.
- 2019 copper production1 increased by 6% to 311.4 kt (FY 2018: 294.7 kt)
Full-year copper production1 above guidance of c.300 kt, owing to outperformance at Aktogay
- Bozshakol and Aktogay sulfide concentrators both operated at design ore throughput capacity in 2019
- Q4 copper production1 of 80.9 kt (Q3 2019: 82.9 kt) with strong output from all divisions
- Full-year gold production2 rose by 10% to 201.5 koz (FY 2018: 183.4 koz) due to high grades at Bozshakol and Bozymchak
Aktogay
- Full-year copper production1 of 145.7 kt (FY 2018: 131.4 kt) exceeded guidance of 130-140 kt
- Higher than expected ore throughput in Q4 of 6,378 kt (Q3 2019: 6,119 kt), as mill relining planned in the quarter was rescheduled to January 2020
- Q4 copper production1 reduced to 34.3 kt (Q3 2019: 37.3 kt), due to seasonal impact on oxide volumes and lower grades
Bozshakol
- Full-year copper production2 rose by 8% to 110.2 kt (FY 2018: 101.6 kt), in line with guidance of 105-115 kt
- Copper production2 in Q4 of 31.0 kt (Q3 2019: 32.1 kt), as higher grades, offset by scheduled maintenance
- Gold production2 in 2019 of 144.8 koz (FY 2018: 127.8 koz) was above guidance of 130-140 koz due to sustained high grades
East Region and Bozymchak
- Full-year copper production2 of 55.5 kt (FY 2018: 61.7 kt), in line with guidance of c.55 kt
- Q4 copper production2 increased by 16% to 15.6 kt (Q3 2019: 13.5 kt) due to processing of stockpiled ore and higher average copper grade
- 2019 gold and silver production2 both exceeded full-year guidance, with an output of 53.7 koz (FY 2018: 55.0 koz) and 2,024 koz (FY 2018: 2,356 koz) respectively
- Zinc in concentrate production of 38.3 kt (FY 2018: 49.7 kt), below the guidance of 40-45 kt due to difficult geological conditions restricting mining to low-grade areas
- Payable metal in concentrate and copper cathode from Aktogay oxide ore.
- Payable metal in concentrate.
See appendix for metal production by an asset.
Andrew Southam, Chief Executive Officer, said: “KAZ Minerals delivered strong operational results in the fourth quarter as our large scale, open pit assets in Kazakhstan achieved record levels of production. The main sulfide concentrators at both Bozshakol and Aktogay operated at design ore throughput in 2019 and full-year copper and gold production were ahead of guidance, at 311 kt and 201 Koz respectively. The Group continues to combine output growth with low unit costs and the expansion project at Aktogay will contribute additional volumes when completed in 2021.”
KAZ Minerals is the Gold Partner of the Astana Mining & Metallurgy International Mining and Metallurgical Congress, which will be held June 18-19, 2020 in Nur Sultan, at the Hilton Astana Hotel.
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