25th Jun 2012 11:00
25 June 2012
Kazakhmys PLC Change of Auditor
The Board of Directors of Kazakhmys PLC (the 'Board') announces that it has appointed KPMG Audit Plc ('KPMG') as auditors to Kazakhmys PLC (the 'Group').
Ernst & Young LLP had been the Group's auditor since 2005 and on the recommendation of the Group Audit Committee, the Board conducted a formal, competitive tender process for the provision of audit services.
Ernst & Young LLP has therefore resigned as auditors and KPMG has been appointed.
Shareholders have been notified accordingly.
For further information please contact:
Kazakhmys PLC | |||
John Smelt | Head of Corporate Communications | Tel: +44 20 7901 7882 Tel: +44 78 7964 2675 | |
Irina Tretyakova | Financial Analyst | Tel: +44 20 7901 7814 | |
Maksut Zhapabayev | Head of Corporate Communications Almaty | Tel: +77 27 3304 556 | |
Merlin | |||
David Simonson | Tel: +44 20 7726 8400 | ||
Ian Middleton | Tel: +44 20 7726 8400 | ||
Maria Babkina | Tel: +44 20 7726 8400 | ||
Hill & Knowlton Hong Kong |
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K W Lam | Tel: +852 2894 6321 | ||
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Notes to Editors
Kazakhmys PLC is a leading international natural resources group with significant interests in copper, gold, zinc, silver and power generation.
It is the largest copper producer in Kazakhstan and one of the top worldwide with 18 operating mines, 10 concentrators and 2 copper smelters. Kazakhmys Mining operations are fully integrated from mining ore through to the production of finished copper cathode and rod. Total copper cathode produced in 2011 from own ore was 299 thousand tonnes. Production is backed by a captive power supply and significant rail infrastructure.
Kazakhmys Mining produces significant volumes of other metals, including zinc, silver and gold. In 2011, it produced 140 thousand tonnes of zinc in concentrate. The Group is amongst the largest silver producers in the world (13 million ounces produced in 2011).
Kazakhmys Power has a 50% interest in the coal fired Ekibastuz GRES-1 plant, the largest in Kazakhstan with a current capacity of 2,500 MW and which is undergoing a modernization programme to reach its nameplate capacity of 4,000 MW. Kazakhmys Power also operates the captive coal mines and power stations which supply power to the Mining Division.
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) and Hong Kong Stock Exchange (HKSE). It had revenues from continuing operations of $3.6 billion in 2011 with an operating profit of $1.2 billion. The Group employs some 60,000 people, principally in Kazakhstan. The Group's strategic aim is to optimise its current operations, deliver its major growth projects and to diversify and participate in the development of the significant natural resource opportunities in Central Asia.
Related Shares:
KAZ.L