26th Jun 2008 12:01
26 June 2008
KAZAKHMYS PLC ANNOUNCES COMMISSIONING OF SULPHURIC ACID PLANT
Kazakhmys PLC ("Kazakhmys") announces that production has commenced at its major new sulphuric acid plant at the Balkhash complex in Kazakhstan.
The $130 million plant is designed to produce 1.2 million tonnes of sulphuric acid per annum. Production has started in line with previous guidance, by the end of H1 2008, and will ramp up to full production by Q4 2008.
The plant provides several significant benefits. The commissioning of the plant will lead to a six fold reduction in sulphur dioxide emissions at the complex, which is a key environmental target for the Group. The plant will also become an important source of a valuable by product which is required for a wide range of uses in Kazakhstan.
Oleg Novachuk Chief Executive of Kazakhmys said: "I am delighted that this important project is complete. The plant will create substantial environmental benefits for the region, generate revenue for Kazakhmys and provide a commodity that is in short supply and required for the continued development of Kazakhstan."
For further information please contact:
|
Kazakhmys PLC |
||
|
John Smelt |
Head of Corporate Communications |
Tel: +44 20 7901 7882 Tel: +44 78 7964 2675 |
|
Olga Nekrassova |
Financial Analyst |
Tel: +44 20 7901 7814 |
|
Merlin |
||
|
David Simonson |
Tel: +44 20 7653 6620 |
|
|
Tom Randell |
Tel: +44 20 7653 6620 |
|
|
Leonid Fink |
Tel: +44 20 7653 6620 |
- ends -
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 2007 from own ore was 341,000 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 produces significant volumes of other metals, including zinc, silver and gold. In 2007, it produced 45,000 tonnes of zinc metal and 133,000 tonnes of zinc concentrate. Kazakhmys is the fourth largest silver producer in the world (19 Moz produced in 2007). Kazakhmys Gold, which acquired Eurasia Gold Inc in July 2007, includes substantial new development and exploration opportunities. The Group produced 113,000 oz of gold in 2007 and has measured and indicated resources of 2.3 Moz.
Kazakhmys Power, the largest privately owned power business in Kazakhstan owns and operates a number of power plants, including the recently acquired coal fired Ekibastuz plant, the largest in Kazakhstan with a nameplate capacity of 4,000 MW. In addition, it owns the Maikuben West open cast coal mine, supplying around 20% of the power plant's fuel requirements producing over 3.4 million tonnes of coal in 2007.
Kazakhmys Petroleum has acquired the Dostan-Temir LLP 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 $5.3 billion in 2007 with EBITDA of $2.3 billion. The Group employs some 65,000 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.
Related Shares:
KAZ.L