25th Jul 2019 11:01
(Alliance News) - KAZ Minerals PLC on Thursday said it is on track to achieve its annual production guidance as increased concentrator availability boosted output in second quarter.
The Kazakhstan focused copper company said production in the six months to the end of June rose by 6% to 147,600 tonnes from 139,600 tonnes a year ago, with output in the second quarter up to 77,600 tonnes from 70,000 tonnes seen in the first quarter. The growth was helped by increased concentrator availability.
At the Ayagoz copper production in first half was 22% higher at 74,100 tonnes, whilst production in the second quarter reached 37,400 tonnes, up from 49,800 tonnes in the first quarter. KAZ Minerals said the growth was helped by sustained high sulphide throughput and grades, and seasonally stronger oxide production.
Meanwhile, at the Bozshakol mine, first-half copper production slipped to 47,100 tonnes from 49,800 tonnes, as higher recoveries and throughput in main sulphide plant offset lower average grade and clay plant upgrade works.
At East Region and Bozymchak mine, copper production in the first half of 2019 was 26,400 tonnes compared to 29,000 tonnes in the first half of 2018, with second-quarter output increasing to 16,900 tonnes from just 9,500 tonnes in the first quarter following the restart of the Nikolayevsky concentrator.
Looking forward, KAZ Minerals said it is on track to achieve its annual production guidance of 300,000 tonnes of copper.
"KAZ Minerals' second quarter copper production rose 11% due to increased concentrator availability and efficient operations across the group's mines," said Chief Executive Andrew Southam.
"Aktogay achieved record copper production in the quarter and at Bozshakol the clay plant returned to full capacity, with the group well positioned to achieve its 2019 copper guidance of 300,000 tonnes," added Southam.
KAZ Minerals shares were trading 2.3% higher on Thursday in London at 590.80 pence each.
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