Replacement Pre-Export Finance Debt Facility

21 December 2012

KAZAKHMYS PLC ANNOUNCES THE SIGNING OF A $1 BILLION REPLACEMENT PRE-EXPORT FINANCE DEBT FACILITY

Kazakhmys PLC announces the signing of a $1 billion pre-export finance debt facility ('PXF'). The five year facility will provide additional liquidity during the development of the major copper projects at Bozshakol and Aktogay and is to be used for general corporate purposes. The new facility replaces the existing $2.1 billion facility which is due to mature in February 2013.

The Lenders in the transaction are Bank of China, Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank AG, ICBC (London and Almaty), ING Bank, Natixis, Société Générale, Sumitomo Mitsui Banking Corporation and UniCredit as the Mandated Lead Arrangers and Bank of America Merrill Lynch, Citibank, Crédit Agricole CIB, JP Morgan and The Royal Bank of Scotland as Arrangers. The agent is Deutsche Bank AG and the security trustee is ING Bank.

The facility has a one year availability period and principal repayments will then amortise over a three year period commencing from January 2015 until final maturity in December 2017. The interest rate is at US$ LIBOR plus a margin of 2.80%.

Matthew Hird, Chief Financial Officer of Kazakhmys PLC stated: "We are delighted to have completed this replacement debt facility and the competitive pricing reflects the strength of our business. The facility will provide financial flexibility as we invest in our major expansion projects during the next three years and is a helpful addition to our project specific loans."

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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 16 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 equivalent 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 with 13 million ounces produced in 2011.

Kazakhmys Power has a 50% interest in the coal fired Ekibastuz GRES-1 plant, the largest in Kazakhstan. The plant is undergoing a modernisation programme, including the commissioning of a sixth turbine to take capacity to 3,000 MW and ultimately to allow the plant to reach its nameplate capacity of 4,000 MW. Kazakhmys Power also operates the captive coal mines and power stations which supply electricity 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 around 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.