Kazakhstan-based copper producer Kaz Mineral’s production rose by 6pc in 2019 to 311,400mt from 294,700mt in the prior year. Kaz Mineral’s Aktogaymine reported outperformance to surpass the company’s annual copper production guidance of 300,000mt.
In the December quarter, Kaz Minerals produced 80,900mt of copper while zinc concentrate production was 38,300mt from 49,700mt in the prior-year period. Zinc production was below the guidance of 40,000-45,000mt due to difficult geological conditions restricting mining to low-grade area.
Aktogay mines reported 145,700mt of copper production in 2019, higher than 134,400mt in the prior year and above 130,000-140,000mt guided for 2019. In the December quarter, production fell by 3,000mt to 34,300mt fro37,300mt in the prior quarter due to seasonal impact on oxide volumes and lower grades.
The copper production rose by 8pc to 110,200mt in the fiscal 2019 from 101,600mt in the year prior. The company’s performance guidance said that 105,000-115,000mt will be produced at Bozshakol mines.
East region and Bozymchak Mines
Copper production at eastern region and at Bozymchak mines is 55,500mt in 2019 from 61,700mt in the prior year period and in line with the performance guidance of 55,000mt. In the December quarter, copper production rose by 16pc to 15,600mt from the prior quarter.
* Expansion of Aktogay mine located in Ayagoz, east Kazakhstan well in progress, $223mn invested in H1 2019
* Acquisition of Baimskaya copper project located in Chukotka, Russia completed. The company invested $900mn, The region is among one of the world’s largest undeveloped copper deposits. .