30th Jul 2008 07:00
30 July 2008
Kazakhmys PLC Production Summary for 6 Months and the Second Quarter Ended 30 June 2008
Copper in concentrate and cathode production improved significantly in Q2 2008
Recovering from the severe weather seen in the previous quarter
Benefiting from rising output at the four new mines
Copper in own concentrate rose 13% to 90.6 thousand tonnes from Q1 2008 and copper cathode production rose 8% to 81.6 thousand tonnes quarter on quarter
Improvements continue to be seen in the deliveries of ordered equipment
Equipment availability and delivery remains a key area of management focus
Maintenance to Kazakhstan national grid may affect copper cathode output in Q3
Copper in concentrate production should be unaffected
Good progress on new projects
Taskura copper mine started production in April 2008
Bozymchak gold mine moved into feasibility study
Balkhash sulphuric acid plant started production
Kazakhmys Power is included in the production report for the first time
Production increased significantly in H1 2008, reflecting rising demand and higher capacity
Oleg Novachuk, Chief Executive Officer, said "After the severe weather in Q1 2008, we have seen good progress, with output recovering well, assisted by new mine production and improvements in equipment availability. In Q3 2008 there may be an impact on cathode production, as the national grid undergoes maintenance work potentially affecting power supplies. However, mine and concentrate output will be unaffected and we maintain our target that copper cathode production from own ore production for the full year should be at least in line with 2007."
For further information please contact:
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Kazakhmys PLC |
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John Smelt, Head of Corporate Communications |
Tel: +44 20 7901 7882 Tel: +44 787 964 2675 |
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Olga Nekrassova, Financial Analyst |
Tel: +44 20 7901 7814 |
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Merlin |
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David Simonson & Tom Randell (English language) |
Tel: +44 20 7653 6620 |
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Leonid Fink & Anastasia Ivanova (Russian language) |
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 2007 from own ore was 341 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 2007, it produced 45 thousand tonnes of zinc metal and 133 thousand tonnes of zinc concentrate. Kazakhmys is the fourth largest silver producer in the world (19 million ounces produced in 2007). Kazakhmys Gold, which acquired Eurasia Gold Inc in July 2007, includes substantial new development and exploration opportunities. The Group produced 146 thousand ounces of gold in 2007 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 3.4 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.
Copper Summary
Kazakhmys Copper Production
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Ore extraction |
'000 t |
17,472 |
17,994 |
9,215 |
8,257 |
9,063 |
|
Average copper grade |
% |
1.22 |
1.21 |
1.23 |
1.21 |
1.18 |
|
Average zinc grade1 |
% |
3.32 |
3.69 |
3.19 |
3.49 |
3.67 |
|
Copper in concentrate |
'000 t |
185.8 |
201.5 |
99.8 |
86.0 |
96.7 |
|
own concentrate |
'000 t |
170.7 |
182.8 |
90.6 |
80.1 |
89.2 |
|
purchased concentrate |
'000 t |
15.1 |
18.7 |
9.2 |
5.9 |
7.5 |
|
Copper cathodes2 |
'000 t |
174.3 |
191.2 |
90.2 |
84.1 |
91.5 |
|
own concentrate |
'000 t |
157.1 |
163.5 |
81.6 |
75.5 |
79.7 |
|
purchased concentrate |
'000 t |
17.1 |
26.9 |
8.6 |
8.5 |
11.6 |
|
tolling concentrate |
'000 t |
0.1 |
0.8 |
- |
0.1 |
0.2 |
|
Copper rod |
'000 t |
23.6 |
18.0 |
10.2 |
13.4 |
9.0 |
1Complex ores only
2Includes copper used to produce copper rod
Ore output increased by 12% to 9,215 kt in Q2 2008 from 8,257 kt in Q1 2008, a quarter which was depressed by severe winter weather. Ore output showed a slight increase from the levels achieved in Q2 2007. The quarter benefited from a combination of new mine production and the delivery of new equipment, an issue mentioned in previous production reports.
The ore output for H1 2008 remains below the level achieved in H1 2007, mainly due to the weather related lower production in Q1 2008, mentioned above.
Copper grades in Q2 2008 increased compared to Q2 2007 due to decreased output from the low grade South mine and improved grades in the East region.
Copper in own concentrate production in Q2 2008 increased from the previous period reflecting the increase in mined metal.
Cathode production from own concentrate in Q2 2008 at 81.6 kt represents an 8% increase from the previous quarter due to processing of concentrate accumulated at the end of Q1 2008, in addition to higher volumes of copper in concentrate produced in Q2 2008.
Production of copper cathode from own concentrate in the first six months of 2008 was slightly lower than the same period of 2007 due to lower production in Q1 2008. Improved performance in Q2 combined with the anticipated mine output for the rest of the year leaves Kazakhmys on track to reach copper production targets.
The national grid in Kazakhstan is currently undergoing significant maintenance work, which may impact the availability of power to the copper smelters. This will result in a further build up in inventory in Q3, but the target for copper cathodes from own ore for the full year is unaffected.
By-products Summary
Kazakhmys copper By-products Production
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Zinc in concentrate |
'000 t |
66.4 |
71.2 |
32.8 |
33.6 |
32.6 |
|
Zinc metal |
'000 t |
24.6 |
27.4 |
12.2 |
12.4 |
12.5 |
|
Silver |
'000 oz |
8,330 |
10,111 |
4,310 |
4,020 |
5,089 |
|
own production1 |
'000 oz |
8,329 |
10,104 |
4,309 |
4,020 |
5,087 |
|
tolling2 |
'000 oz |
1 |
7 |
1 |
- |
2 |
|
Gold |
'000 oz |
63.5 |
70.6 |
32.1 |
31.4 |
36.6 |
|
own production1 |
'000 oz |
62.8 |
51.4 |
31.4 |
31.4 |
32.2 |
|
tolling2 |
'000 oz |
0.7 |
19.2 |
0.7 |
- |
4.4 |
1 Includes slimes from purchased concentrate
2 Represents tolled materials provided via third parties
Zinc in concentrate production in Q2 2008 was in line with Q2 2007 and with Q1 2008. Zinc in concentrate production over the six month period was lower than in 2007 due to the timing of receipts of material from third party processors under tolling arrangements with ore processing scheduled for every second month. Zinc metal production during Q2 2008 remained in line with the previous periods.
Production of silver during Q2 2008 increased over Q1 2008, benefiting from the processing of more silver-bearing ore from the Zhezkazgan region and stockpiled Kosmurun ore.
The decrease of silver production compared to Q2 2007 and H1 2007 reflects the reduced output of ore and lower silver grades at the South mine and lower output at the Kosmurun mine. This was partially offset by output from the new Akbastau and Abyz mines.
Gold output in Q2 2008 was in line with the previous quarter and the corresponding period of 2007. Gold production for the first six months of 2008 benefited from an increase in grades, after commencement of production at the Abyz mine In addition, gold work in progress has built up during H1 2008, which will be processed in H2 2008. This should ensure that overall gold production for 2008 is higher than 2007.
Kazakhmys Copper Review by Region
Zhezkazgan Complex
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
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|
Ore extraction |
'000 t |
12,013 |
12,816 |
6,209 |
5,804 |
6,516 |
|
Average copper grade |
% |
0.81 |
0.81 |
0.83 |
0.79 |
0.80 |
|
Copper concentrate |
'000 t |
234.9 |
247.2 |
123.2 |
111.7 |
126.4 |
|
Copper in concentrate |
'000 t |
85.0 |
93.1 |
45.0 |
40.0 |
46.6 |
|
Copper cathodes1 |
'000 t |
84.0 |
93.7 |
37.4 |
46.6 |
43.8 |
|
own concentrate |
'000 t |
83.7 |
90.0 |
37.1 |
46.6 |
42.5 |
|
purchased concentrate |
'000 t |
0.3 |
3.7 |
0.3 |
- |
1.3 |
|
tolling2 |
'000 t |
- |
- |
- |
- |
- |
|
Copper rod |
'000 t |
23.6 |
18.0 |
10.2 |
13.4 |
9.0 |
1 Includes copper used to produce copper rod
2 Represents tolled materials provided via third parties
Ore extraction at the Zhezkazgan complex increased at all mines, except the South mine, benefiting from an improvement in equipment availability. In addition the new Taskura mine (part of the North group of mines) started production in April 2008. This increase was only partially offset by decreased production at the South mine during Q2 2008, which is undergoing repair works to the main shaft lifting equipment until late 2008. Overall output in H1 2008 was below production in 2007 reflecting the weather issues of Q1 2008.
In Q2 2008, the copper grade rose to 0.83%, from 0.80% in Q2 2007 and 0.79% in Q1 2008. This was due to higher grade ore produced at the new Taskura mine, increased output at higher grade Zhomart mine and decreased output at the low grade South mine.
Average grade for the first six months of 2008 was in line with the grade achieved during the same period in 2007. This was again the result of the impact of South mine, where lower grade and production supported the higher grades achieved at the two new operations at Taskura and Sary-Oba mines.
The changes in production of copper in concentrate at the Zhezkazgan complex reflect the changes in ore extraction and grade.
Copper cathode production from own concentrate in the second quarter of 2008 was 20% lower than in the same period last year and 15% lower than in Q1 2008. This was due to the 53 day maintenance shutdown for a smelter furnace in Q2 2008, whereas there was no shutdown in Q1 2008 and only a 14 day shutdown in Q2 2007. The accumulated concentrate will be processed in H2 2008.
Copper rod, which is produced to customer order, increased markedly in H1 2008 compared to the same period last year reflecting strong demand from Chinese customers.
Kazakhmys Copper Review by Region
Balkhash Complex
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Ore extraction |
'000 t |
1,424 |
1,092 |
820 |
604 |
603 |
|
Average copper grade |
% |
0.95 |
1.15 |
0.96 |
0.93 |
1.08 |
|
Copper concentrate1 |
'000 t |
107.0 |
92.5 |
69.2 |
37.8 |
51.3 |
|
Copper in concentrate |
'000 t |
15.7 |
15.9 |
9.5 |
6.1 |
8.3 |
|
Copper cathodes |
'000 t |
90.3 |
97.5 |
52.8 |
37.5 |
47.7 |
|
own concentrate |
'000 t |
73.4 |
73.5 |
44.5 |
28.9 |
37.2 |
|
purchased concentrate |
'000 t |
16.8 |
23.2 |
8.3 |
8.5 |
10.3 |
|
tolling2 |
'000 t |
0.1 |
0.8 |
- |
0.1 |
0.2 |
1Excludes concentrate processed by third parties
2 Represents tolled materials provided via third parties
The increased ore extraction throughout H1 2008, was due to greater output from the Kounrad mine, which although undergoing extensive overburden removal is enjoying modest output of relatively low grade ore. Production at the Shatyrkul mine increased slightly compared to Q1 2008 as a result of more favourable geological conditions.
The average copper grade has decreased from Q2 2007 and H1 2007 levels to 0.96% and 0.95%, respectively. This decrease shows the impact of output from Kounrad mine, which has a grade of 0.28%. However the grade improved from Q1 2008, reflecting an increase in grades at the Sayak and Shatyrkul mines.
Output of copper in concentrate at the Balkhash complex increased significantly during Q2 2008 from Q1 2008, partially reflecting increased ore output and higher copper grades. Additionally, Akbastau ore and previously stockpiled Nurkazgan from the Karaganda region were processed at the Balkhash complex during Q2 2008, to utilise its spare capacity and to achieve higher recovery rates from copper only ores. The Karagaily concentrator in Karaganda will continue processing complex ores from the Akbastau mine.
Copper cathode production from own concentrate increased by 20% and 54% compared to Q2 2007 and Q1 2008, respectively. This is due to processing of concentrate accumulated in Q1 2008 when the smelter was closed for some of the time for maintenance. Cathode production from own concentrate in H1 2008 was in line with H1 2007.
Production of sulphuric acid started at the end of H1 2008, in line with previous guidance, and will ramp up to full production (1.2 million tonnes of sulphuric acid per annum) by Q4 2008. During one month of operations at the acid plant emissions of sulphur dioxide were reduced by 30%.
Kazakhmys Copper Review by Region
East Region
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Ore extraction |
'000 t |
2,254 |
2,174 |
1,206 |
1,048 |
1,027 |
|
Average copper grade |
% |
2.85 |
2.60 |
2.75 |
2.96 |
2.50 |
|
Copper concentrate1 |
'000 t |
277.2 |
231.4 |
142.6 |
134.6 |
105.2 |
|
Copper in concentrate |
'000 t |
52.3 |
43.7 |
27.2 |
25.1 |
20.0 |
1Excludes concentrate processed by third parties
Ore extraction in Q2 2008 increased in all mines compared to Q1 2008 as previously ordered equipment continued to arrive. The increase of 15% in Q2 2008, compared to Q1 2008, was also assisted by increased output from the Artemyevsky mine where the access to the ore body improved following backfill works in Q1 2008.
The decrease in copper grade to 2.75% in Q2 2008, compared to 2.96% in Q1 2008, was due to increased production, combined with lower grades obtained, at the Yubileyno-Snegirikhinsky, Orlovsky and Nikolayevsky mines. The general increase in the copper grade in 2008, both for Q2 and H1, reflects the increase in ore output at the relatively high grade Orlovsky mine.
Production of copper in concentrate in the East region increased compared to Q2 2007 and H1 2007. This is due to the increase of ore output and grades, as well as processing of additional ore from the Kosmurun mine in the Karaganda region. Following the end of the cold season, and decreased national transportation of coal, the availability of rail transport improved and higher amounts of ore were transported from the Kosmurun mine located in the Karaganda region to the Nikolayevsky concentrator in the East region. This resulted in an 8% increase in copper in concentrate produced compared to Q1 2008.
Kazakhmys Copper Review by Region
Karaganda Region
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Ore extraction |
'000 t |
1,781 |
1,912 |
980 |
801 |
917 |
|
Average copper grade |
% |
2.14 |
2.36 |
2.10 |
2.20 |
2.46 |
|
Copper concentrate |
'000 t |
108.1 |
158.7 |
60.5 |
47.6 |
79.5 |
|
Copper in concentrate |
'000 t |
14.5 |
24.6 |
7.5 |
7.0 |
12.0 |
Ore extraction in the Karaganda region during Q2 2008 was 7% higher compared to the same period in 2007. This was due to the output from the Akbastau and Abyz mines, which opened in 2008, offset by temporarily low extraction at West Nurkazgan and Kosmurun. These are both in preparation for operations moving underground which are scheduled to start in early 2009 and 2012, respectively.
The increased production from the new Akbastau mine in Q2 2008 resulted in the 22% increase in ore output, compared to the previous quarter. The decrease from 1,912 thousand tonnes extracted in 6 months of 2007, to 1,781 thousand tonnes extracted in 2008, is due to the decreased production at the West Nurkazgan and Kosmurun mines offsetting the contributions from Akbastau and Abyz.
The North Nurkazgan open pit mine started production in Q2 2008; however output remains light, as operations focus on the higher grade Akbastau mine while the Nurkazgan concentrator awaits additional milling equipment.
The average copper grade achieved in Q2 2008 was lower than Q2 2007 reflecting the reduced output from the Kosmurun open pit mine. The reduction in the average copper grade from Q1 2008 to Q2 2008, was caused by the increased ore output from Akbastau where the overall copper grade is affected by the copper ore body being intercepted with zinc bearing blocks.
In October 2007, the processing of complex ores from the Kosmurun mine was transferred from the Karagaily concentrator in the Karaganda region to the Nikolayevsky concentrator in the East region. This has resulted in a reduction in the concentrate produced in Karaganda region seen in H1 2008, compared to H1 2007. Previously stockpiled ore from the Nurkazgan mine continues to be processed at the Balkhash complex utilising its spare capacity. During Q2 2008, another 180 thousand tonnes of stockpiled Nurkazgan ore was shipped and processed, reducing the stockpiled ore to 570 thousand tonnes. From Q2 2008 the processing of copper only ores from the Akbastau mine is being undertaken by the Balkhash complex.
Other divisions review
kazakhmys gold PRODUCTION
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Ore extraction |
t |
857 |
854 |
665 |
192 |
645 |
|
Gold ore grade |
g/t |
1.50 |
1.42 |
1.55 |
1.50 |
1.46 |
|
Gold in ore to pads |
ktr.oz |
37 |
40 |
28 |
9 |
34 |
|
Gold precipitation |
ktr.oz |
22 |
19 |
15 |
7 |
13 |
|
Gold doré production |
ktr.oz |
22 |
19 |
14 |
8 |
12 |
|
Silver production |
ktr.oz |
21 |
24 |
12 |
9 |
14 |
As was announced in July 2008 the Bozymchak Gold Project in Kyrgyzstan has successfully completed its pre-feasibility study, and the project has moved to the feasibility stage. The feasibility study should be completed by the end of 2008. Extraction of ore should commence by the end of 2009 and it is anticipated that the annual production of metal, which will start in 2010, will be 30 ktr.oz of gold and 7 kt of copper per annum.
Exploration works were started in Q2 at the Akjilga silver project by PamirGeology, the state owned exploration company in Tajikistan.
Mizek Sulphide project should move to the feasibility stage in H2 2008.
Ore extraction is in line with Q2 2007 and H1 2007 and is significantly higher compared to Q1 2008 due to standard seasonal changes. Production is carried out using heap leaching with optimal temperature for the leaching solution being 15oC.
The average gold grade is higher than 2007 levels as further exploration was conducted at Mukur mine, allowing operations to target ore bodies with a higher grade. The average grade was also assisted by the extraction of sulphide ores at Mizek with a high gold grade.
The higher gold doré production was slightly ahead of Q2 2007 due to the higher gold precipitation reflecting the increase in grades. Combined with the release of gold from work in progress in Q1 2008, this has led to higher production during H1 2008 compared to the same period last year.
Other divisions review (continued)
kazakhmys Petroleum
The main focus of the exploration activity is the Eastern Akzhar (subsalt) section, where the 3D seismic survey is on track. The field data collection process was completed in May 2008 with the survey now progressing to the data analysis stage. This should be completed by the end of 2008 and the results of this survey will be used to plan the location of future new deep wells in 2009.
In H2 2008, while the 3D seismic data is analysed, a copy well of a well drilled in the 1980s will be drilled. Contractors have been appointed for drilling works which are scheduled to start in Q3 2008.
Other divisions review (continued)
kazakhmys POWER PRODUCTION
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Coal extraction |
'000 t |
1,771 |
1,549 |
849 |
922 |
552 |
|
Coal extraction attributable to Kazakhmys* |
'000 t |
377 |
n/a |
377 |
n/a |
n/a |
|
Net power generated |
GWh |
5,506 |
3,931 |
2,636 |
2,870 |
1,906 |
|
Net power generated attributable to Kazakhmys* |
GWh |
948 |
n/a |
948 |
n/a |
n/a |
|
Net dependable capacity |
MW |
2,036 |
1,926 |
1,882 |
2,190 |
1,785 |
* Period from acquisition on 30th May 2008
This is the first time that Kazakhmys Power has been included in the production report, having been acquired on 30 May 2008.
Kazakhmys Power division includes the Maikuben West coal mine and Ekibastuz GRES-1 power plant, the largest power plant in Kazakhstan. Ekibastuz power plant has a nameplate capacity of 4,000 MW and eight energy generating blocks. Only five blocks are currently operational and support current available capacity of 2,250 MW. Kazakhmys Power plans to rehabilitate unit 8 and put it into operation in 2011 with a total estimated capacity (including houseload) expected to reach 3,000 MW. The remaining non - operational units, 1 and 2, are expected to begin operations in 2013 and 2014 respectively, increasing capacity level to 4,000 MW. All investment plans depend on an increase in tariffs to support the Group's investment returns.
Maikuben coal mine extracts lignite with a calorific value of 3900-4300 kkal/t. This coal is mainly used for domestic purposes although it is also consumed by coal-fired electric stations in Northern and Eastern Kazakhstan and Russia.
The power plant's net dependable capacity (NDC)1 during the autumn-winter season (November 2007 - March 2008) was 2,190 MW with five out of eight units being operational. Historically, the maintenance season is from April to October. During the 2008 maintenance season, one of the units will not be available due to a major overhaul and other units will be subject to routine maintenance works. This will reduce NDC by 20-25% until the end of the maintenance season in November.
Net generated electricity increased by 40% in H1 2008 compared to the same period last year. This is due to the increased capacity and the increased demand by the local market, which was also reflected in an increased number of supply contracts.
1 The net dependable capacity is essentially the real productive capacity of GRES-1. It is calculated by taking the maximum design capacity of the generation units and then factoring in the physical condition of the units (e.g. wear and tear), production outages for repairs and internal consumption of electricity.
Kazakhmys Copper
Copper MINing
|
Zhezkazgan complex |
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
|
|
North |
ore ('000 t) |
1,662 |
1,344 |
1,104 |
558 |
619 |
|
grade (%) |
0.75 |
0.66 |
0.79 |
0.68 |
0.65 |
|
|
East |
ore ('000 t) |
2,680 |
2,753 |
1,358 |
1,322 |
1,405 |
|
grade (%) |
0.82 |
0.82 |
0.83 |
0.82 |
0.79 |
|
|
South |
ore ('000 t) |
1,596 |
3,137 |
628 |
968 |
1,590 |
|
grade (%) |
0.66 |
0.69 |
0.67 |
0.66 |
0.65 |
|
|
West |
ore ('000 t) |
1,128 |
1,047 |
640 |
488 |
497 |
|
grade (%) |
0.51 |
0.37 |
0.55 |
0.45 |
0.33 |
|
|
Stepnoy |
ore ('000 t) |
1,481 |
1,447 |
765 |
716 |
837 |
|
grade (%) |
0.81 |
0.80 |
0.77 |
0.84 |
0.87 |
|
|
Annensky |
ore ('000 t) |
1,806 |
1,649 |
859 |
947 |
810 |
|
grade (%) |
0.85 |
1.04 |
0.90 |
0.81 |
1.08 |
|
|
Zhomart |
ore ('000 t) |
1,660 |
1,439 |
855 |
805 |
758 |
|
grade (%) |
1.16 |
1.30 |
1.22 |
1.10 |
1.18 |
|
|
Complex total |
ore ('000 t) |
12,013 |
12,816 |
6,209 |
5,804 |
6,516 |
|
Complex average |
grade (%) |
0.81 |
0.81 |
0.83 |
0.79 |
0.80 |
|
Balkhash complex |
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
|
|
Kounrad |
ore ('000 t) |
494 |
178 |
349 |
145 |
130 |
|
grade (%) |
0.28 |
0.31 |
0.28 |
0.29 |
0.28 |
|
|
Sayak I, III |
ore ('000 t) |
783 |
701 |
384 |
399 |
363 |
|
grade (%) |
1.07 |
1.05 |
1.13 |
1.01 |
1.01 |
|
|
Shatyrkul |
ore ('000 t) |
147 |
213 |
87 |
60 |
110 |
|
grade (%) |
2.53 |
2.22 |
2.91 |
1.98 |
2.27 |
|
|
Complex total |
ore ('000 t) |
1,424 |
1,092 |
820 |
604 |
603 |
|
Complex average |
grade (%) |
0.95 |
1.15 |
0.96 |
0.93 |
1.08 |
|
East region |
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
|
|
Nikolayevsky |
ore ('000 t) |
192 |
275 |
110 |
82 |
155 |
|
grade (%) |
1.74 |
1.72 |
1.41 |
2.18 |
1.71 |
|
|
Artemyevsky |
ore ('000 t) |
736 |
802 |
403 |
333 |
404 |
|
grade (%) |
1.68 |
1.71 |
1.70 |
1.67 |
1.72 |
|
|
Irtyshsky |
ore ('000 t) |
237 |
202 |
119 |
118 |
104 |
|
grade (%) |
1.36 |
1.33 |
1.35 |
1.38 |
1.31 |
|
|
Belousovsky |
ore ('000 t) |
122 |
74 |
61 |
61 |
15 |
|
grade (%) |
0.92 |
0.83 |
0.94 |
0.90 |
0.91 |
|
|
Orlovsky |
ore ('000 t) |
746 |
618 |
386 |
360 |
250 |
|
grade (%) |
4.92 |
4.61 |
4.78 |
5.06 |
4.72 |
|
|
Yubileyno-Snegirikhinsky |
ore ('000 t) |
221 |
203 |
127 |
94 |
99 |
|
grade (%) |
3.35 |
3.09 |
3.22 |
3.53 |
2.80 |
|
|
Region total |
ore ('000 t) |
2,254 |
2,174 |
1,206 |
1,048 |
1,027 |
|
Region average |
grade (%) |
2.85 |
2.60 |
2.75 |
2.96 |
2.50 |
|
Karaganda region |
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
|
|
Nurkazgan (West, North) |
ore ('000 t) |
349 |
1,106 |
127 |
222 |
472 |
|
grade (%) |
0.81 |
1.17 |
0.53 |
0.96 |
1.15 |
|
|
Akbastau |
ore ('000 t) |
1,016 |
- |
636 |
380 |
- |
|
grade (%) |
2.61 |
- |
2.35 |
3.04 |
- |
|
|
Kosmurun |
ore ('000 t) |
180 |
806 |
106 |
74 |
445 |
|
grade (%) |
2.60 |
4.00 |
2.61 |
2.58 |
3.85 |
|
|
Abyz |
ore ('000 t) |
236 |
- |
111 |
125 |
- |
|
grade (%) |
1.77 |
- |
1.92 |
1.63 |
- |
|
|
Region total |
ore ('000 t) |
1,781 |
1,912 |
980 |
801 |
917 |
|
Region average |
grade (%) |
2.14 |
2.36 |
2.10 |
2.20 |
2.46 |
|
Total |
ore ('000 t) |
17,472 |
17,994 |
9,215 |
8,257 |
9,063 |
|
Average |
grade (%) |
1.22 |
1.21 |
1.23 |
1.21 |
1.18 |
Copper processing
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Zhezkazgan complex |
||||||
|
Copper concentrate |
'000 t |
234.9 |
247.2 |
123.2 |
111.7 |
126.4 |
|
Copper in concentrate |
'000 t |
85.0 |
93.1 |
45.0 |
40.0 |
46.6 |
|
Balkhash complex |
||||||
|
Copper concentrate |
'000 t |
107.0 |
92.5 |
69.2 |
37.8 |
51.3 |
|
Copper in concentrate |
'000 t |
15.7 |
15.9 |
9.6 |
6.1 |
8.3 |
|
East region |
||||||
|
Copper concentrate |
'000 t |
277.2 |
231.4 |
142.6 |
134.6 |
105.2 |
|
Copper in concentrate |
'000 t |
52.3 |
43.7 |
27.2 |
25.1 |
20.0 |
|
Karaganda region |
||||||
|
Copper concentrate |
'000 t |
108.1 |
158.7 |
60.5 |
47.6 |
79.5 |
|
Copper in concentrate |
'000 t |
14.5 |
24.6 |
7.5 |
7.0 |
12.0 |
|
Total own processed |
||||||
|
Copper concentrate |
'000 t |
727.2 |
729.8 |
395.5 |
331.7 |
362.4 |
|
Copper in concentrate |
'000 t |
167.5 |
177.4 |
89.3 |
78.2 |
86.9 |
|
Own ore processed by third parties |
||||||
|
Copper concentrate |
'000 t |
11.4 |
20.7 |
4.5 |
6.9 |
8.5 |
|
Copper in concentrate |
'000 t |
3.2 |
5.4 |
1.3 |
1.9 |
2.3 |
|
Total own |
||||||
|
Copper concentrate |
'000 t |
738.6 |
750.5 |
400.0 |
338.6 |
370.8 |
|
Copper in concentrate |
'000 t |
170.7 |
182.8 |
90.6 |
80.1 |
89.2 |
|
Purchased concentrate |
||||||
|
Copper concentrate |
'000 t |
53.6 |
72.4 |
29.6 |
24.0 |
29.8 |
|
Copper in concentrate |
'000 t |
15.1 |
18.7 |
9.2 |
5.9 |
7.5 |
|
Total copper in concentrate |
'000 t |
185.8 |
201.5 |
99.8 |
86.0 |
96.7 |
COPPER SMELTER / REFINERY - Copper CATHODES Production
|
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
||
|
Zhezkazgan smelter |
||||||
|
Own concentrate |
'000 t |
83.7 |
90.0 |
37.1 |
46.6 |
42.5 |
|
Purchased concentrate |
'000 t |
0.3 |
3.7 |
0.3 |
- |
1.3 |
|
Sub - total |
'000 t |
84.0 |
93.7 |
37.4 |
46.6 |
43.8 |
|
Tolling |
'000 t |
- |
- |
- |
- |
- |
|
Total including tolling |
'000 t |
84.0 |
93.7 |
37.4 |
46.6 |
43.8 |
|
Balkhash smelter |
||||||
|
Own concentrate |
'000 t |
73.4 |
73.5 |
44.5 |
28.9 |
37.2 |
|
Purchased concentrate |
'000 t |
16.8 |
23.2 |
8.3 |
8.5 |
10.3 |
|
Sub - total |
'000 t |
90.2 |
96.7 |
52.8 |
37.4 |
47.5 |
|
Tolling |
'000 t |
0.1 |
0.8 |
- |
0.1 |
0.2 |
|
Total including tolling |
'000 t |
90.3 |
97.5 |
52.8 |
37.5 |
47.7 |
|
Grand total |
'000 t |
174.3 |
191.2 |
90.2 |
84.1 |
91.5 |
Kazakhmys Copper
By-products Mining, Processing and SMELTER / REFINERY
|
ZINC |
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
|
|
East region |
||||||
|
Nikolayevsky |
grade (%) |
3.26 |
3.05 |
3.53 |
2.91 |
3.29 |
|
Artemyevsky |
grade (%) |
4.97 |
5.44 |
4.69 |
5.30 |
5.46 |
|
Irtyshsky |
grade (%) |
3.40 |
3.07 |
3.53 |
3.28 |
3.00 |
|
Belousovsky |
grade (%) |
1.98 |
2.84 |
2.03 |
1.92 |
2.24 |
|
Orlovsky |
grade (%) |
4.85 |
4.23 |
4.65 |
5.06 |
4.36 |
|
Yubileyno-Snegirikhinsky |
grade (%) |
3.94 |
3.23 |
4.10 |
3.72 |
2.77 |
|
Region average |
grade (%) |
4.36 |
4.28 |
4.26 |
4.46 |
4.31 |
|
Karaganda region |
||||||
|
Kosmurun |
grade (%) |
4.13 |
2.10 |
3.72 |
4.70 |
2.19 |
|
Akbastau |
grade (%) |
0.87 |
-- |
1.02 |
0.60 |
-- |
|
Abyz |
grade (%) |
3.39 |
-- |
3.39 |
3.39 |
-- |
|
Region average |
grade (%) |
1.69 |
2.11 |
1.45 |
1.73 |
2.19 |
|
Overall average |
grade (%) |
3.32 |
3.69 |
3.19 |
3.49 |
3.67 |
|
Zinc in concentrate |
('000 t) |
66.4 |
71.2 |
32.8 |
33.6 |
32.6 |
|
Zinc metal |
('000 t) |
24.6 |
27.4 |
12.2 |
12.4 |
12.5 |
|
SILVER |
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
|
|
Zhezkazgan complex |
||||||
|
North |
grade (g/t) |
10.80 |
8.66 |
10.51 |
11.39 |
8.22 |
|
East |
grade (g/t) |
19.06 |
17.05 |
18.99 |
19.14 |
17.56 |
|
South |
grade (g/t) |
12.68 |
17.50 |
11.47 |
13.46 |
18.88 |
|
West |
grade (g/t) |
13.26 |
10.92 |
13.44 |
13.01 |
9.75 |
|
Stepnoy |
grade (g/t) |
9.02 |
12.01 |
8.23 |
9.87 |
11.91 |
|
Annensky |
grade (g/t) |
15.00 |
25.60 |
17.34 |
12.87 |
25.09 |
|
Zhomart |
grade (g/t) |
7.17 |
9.08 |
7.98 |
6.31 |
9.81 |
|
Region average |
grade (g/t) |
13.03 |
15.42 |
13.08 |
12.99 |
15.71 |
|
Balkhash complex |
||||||
|
Kounrad |
grade (g/t) |
0.90 |
0.80 |
0.85 |
1.05 |
0.78 |
|
Sayak I, III |
grade (g/t) |
5.14 |
5.44 |
5.06 |
5.21 |
5.37 |
|
Shatyrkul |
grade (g/t) |
2.00 |
1.90 |
2.02 |
1.98 |
1.81 |
|
Region average |
grade (g/t) |
3.34 |
4.00 |
2.94 |
3.89 |
3.73 |
|
East region |
||||||
|
Nikolayevsky |
grade (g/t) |
35.45 |
29.89 |
25.97 |
48.06 |
32.56 |
|
Artemyevsky |
grade (g/t) |
91.18 |
109.06 |
81.04 |
103.5 |
107.41 |
|
Irtyshsky |
grade (g/t) |
53.39 |
53.10 |
55.39 |
51.4 |
55.87 |
|
Belousovsky |
grade (g/t) |
39.23 |
43.00 |
37.96 |
40.47 |
35.30 |
|
Orlovsky |
grade (g/t) |
64.93 |
54.40 |
69.09 |
60.46 |
55.34 |
|
Yubileyno-Snegirikhinsky |
grade (g/t) |
50.96 |
42.86 |
36.34 |
70.88 |
44.41 |
|
Region average |
grade (g/t) |
67.02 |
69.90 |
62.79 |
71.88 |
71.07 |
|
Karaganda region |
||||||
|
Nurkazgan |
grade (g/t) |
2.24 |
2.65 |
2.11 |
2.31 |
2.48 |
|
Akbastau |
grade (g/t) |
26.17 |
-- |
19.56 |
37.27 |
-- |
|
Kosmurun |
grade (g/t) |
51.80 |
28.17 |
38.72 |
70.35 |
29.11 |
|
Abyz |
grade (g/t) |
42.96 |
-- |
44.62 |
41.48 |
-- |
|
Region average |
grade (g/t) |
26.30 |
13.41 |
22.20 |
31.30 |
15.40 |
|
Overall average |
grade (g/t) |
20.56 |
21.09 |
19.66 |
21.57 |
21.15 |
|
Silver in concentrate |
('000 oz) |
8,816 |
11,043 |
4,672 |
4,144 |
5,394 |
|
own concentrate |
('000 oz) |
7,226 |
9,246 |
3,681 |
3,545 |
4,716 |
|
purchased concentrate |
('000 oz) |
1,590 |
1,797 |
991 |
599 |
678 |
|
Silver metal1 |
('000 oz) |
8,329 |
10,104 |
4,309 |
4,020 |
5,087 |
|
GOLD |
6m 2008 |
6m 2007 |
Q2 2008 |
Q1 2008 |
Q2 2007 |
|
|
Balkhash complex |
||||||
| Sayak I, III |
grade (g/t) |
0.36 |
0.27 |
0.42 |
0.31 |
0.30 |
|
Shatyrkul |
grade (g/t) |
0.46 |
0.29 |
0.58 |
0.28 |
0.26 |
|
Region average |
grade (g/t) |
0.38 |
0.27 |
0.45 |
0.31 |
0.23 |
|
East region |
||||||
|
Nikolayevsky |
grade (g/t) |
0.38 |
0.61 |
0.30 |
0.46 |
0.55 |
|
Artemyevsky |
grade (g/t) |
1.03 |
1.49 |
0.91 |
1.10 |
1.59 |
|
Irtyshsky |
grade (g/t) |
0.35 |
0.36 |
0.30 |
0.37 |
0.35 |
|
Belousovsky |
grade (g/t) |
0.40 |
0.48 |
0.36 |
0.40 |
0.41 |
|
Orlovsky |
grade (g/t) |
1.09 |
0.57 |
1.17 |
0.93 |
0.56 |
|
Yubileyno-Snegirikhinsky |
grade (g/t) |
0.71 |
0.62 |
0.64 |
0.77 |
0.62 |
|
Region average |
grade (g/t) |
0.86 |
0.89 |
0.82 |
0.90 |
0.95 |
|
Karaganda region |
||||||
|
Nurkazgan |
grade (g/t) |
0.28 |
0.31 |
0.27 |
0.29 |
0.30 |
|
Akbastau |
grade (g/t) |
0.90 |
-- |
0.77 |
1.05 |
-- |
|
Kosmurun |
grade (g/t) |
2.86 |
1.63 |
2.95 |
2.63 |
1.70 |
|
Abyz |
grade (g/t) |
3.57 |
-- |
3.81 |
3.24 |
-- |
|
Region average |
grade (g/t) |
1.33 |
0.86 |
1.29 |
1.32 |
0.98 |
|
Overall average |
grade (g/t) |
0.94 |
0.77 |
0.92 |
0.95 |
0.83 |
|
Gold in concentrate |
('000 oz) |
60.7 |
62.6 |
38.0 |
22.7 |
30.5 |
|
own concentrate |
('000 oz) |
45.5 |
48.4 |
26.5 |
19.0 |
23.8 |
|
purchased concentrate |
('000 oz) |
15.2 |
14.2 |
11.5 |
3.7 |
6.7 |
|
Gold output1 |
('000 oz) |
62.8 |
51.4 |
31.4 |
31.4 |
32.2 |
1 Includes slimes from purchased concentrate
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