26th Aug 2009 15:18
26 August 2009
KAZAKHMYS PLC ANNOUNCES THE APPOINTMENT OF
MR CLINTON DINES AS AN ADDITIONAL INDEPENDENT NON-EXECUTIVE DIRECTOR
Kazakhmys PLC ("Kazakhmys") today announces the appointment of Clinton Dines as an independent non-executive Director, with effect from 1 October 2009.
Mr Dines, who is a fluent Mandarin speaker, has been involved in business in China since 1980. In 1988 he joined BHP as their senior executive in China and, following the merger of BHP and Billiton in 2001, he became President, BHP Billiton China, a position from which he has recently retired.
Mr Dines will become a member of the Kazakhmys Audit Committee. His appointment as an additional independent non-executive director brings Kazakhmys into line with the requirement under the Combined Code that at least half the Board should be composed of independent directors.
Kazakhmys' Chairman Vladimir Kim said, "We are delighted to welcome Clinton Dines as a non-executive director to our Board. He brings exceptional knowledge of China combined with experience of the resources industry. Given the importance of China in our customer base, this will be of great value as we continue to work with our customers to grow our business and deliver our growth projects."
For further information please contact:
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Kazakhmys PLC
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John Smelt
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Head of Corporate Communications
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Tel: +44 20 7901 7882
Tel: +44 78 7964 2675
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Irene Burton
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Financial Analyst
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Tel: +44 20 7901 7814
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Zulfira Mukhamediyarov
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Senior Manager - Media
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Tel: +77 27 266 317
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Merlin
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David Simonson
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Tel: +44 20 7653 6620
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Tom Randell
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Tel: +44 20 7653 6620
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Notes to Editors
Kazakhmys PLC is a leading international natural resources group, listed in the UK and Kazakhstan, with significant interests in copper, gold, zinc, silver, power generation and petroleum.
It is the largest copper producer in Kazakhstan and one of the top ten worldwide with 20 mines, 10 concentrators and 2 smelters. Kazakhmys copper operations are fully integrated from mining ore through to the production of finished copper cathode and rod. Total copper cathode produced in 2008 from own ore was 343 thousand tonnes. Production is backed by a captive power supply and significant rail infrastructure. Kazakhmys also owns MKM, an upstream copper products fabrication company in Germany, which produces a range of pre- and semi-finished copper and copper alloy products.
Kazakhmys Copper produces significant volumes of other metals, including zinc, silver and gold. In 2008, it produced 48 thousand tonnes of zinc metal and 137 thousand tonnes of zinc concentrate. Kazakhmys is the fourth largest silver producer in the world (17 million ounces produced in 2008).
Kazakhmys Gold, which acquired Eurasia Gold Inc in July 2007, includes substantial new development and exploration opportunities. The Group produced 179 thousand ounces of gold in 2008 and has measured and indicated resources of 2.3 million ounces.
Kazakhmys Power owns the recently acquired coal fired Ekibastuz GRES-1 plant, the largest in Kazakhstan with a nameplate capacity of 4,000 MW. In addition, it owns the Maikuben open cast coal mine, supplying around 20% of the power plant's fuel requirements producing over 3.6 million tonnes of coal in 2008.
Kazakhmys Petroleum owns the East Akzhar exploration block, with an area of 602km², located on the eastern fringe of the Caspian depression.
The Group is part of the FTSE-100 index of companies listed on the London Stock Exchange and is also listed on the Kazakhstan Stock Exchange (KASE). It had revenues of $5.2 billion in 2008 with EBITDA of $2.0 billion. The Group employs some 67,000 people, principally in Kazakhstan. The Group's strategic aim is to diversify and participate in the development of the significant natural resource opportunities in Central Asia.
There are no further details that are required to be disclosed in respect of the appointment under LR9.6.13R of the Listing Rules of the UK Listing Authority.
Related Shares:
KAZ.L