7th Feb 2013 13:15
7 February 2013
RESPONSE TO PRESS SPECULATION
Kazakhmys PLC (the "Group" or "Kazakhmys") notes media speculation relating to the Group's 50% holding in Ekibastuz GRES-1, the largest power station in Kazakhstan.
Kazakhmys has entered into discussions regarding the holding, but these are at an early stage and may or may not lead to a transaction.
A further announcement will be made, if appropriate, in due course.
For further information please contact:
Kazakhmys PLC | |||
John Smelt | Corporate Communications, London | Tel: +44 20 7901 7882 | |
Maria Babkina | Corporate Communications, London | Tel: +44 20 7901 7849 | |
Irene Burton | Financial Analyst, London | Tel: +44 20 7901 7814 | |
Maksut Zhapabayev | Corporate Communications, Almaty | Tel: +77 27 2440 353 | |
College Hill | |||
David Simonson | Tel: +44 20 7457 2031 | ||
Anca Spiridon | Tel: +44 20 7457 2842 | ||
Hill & Knowlton Hong Kong |
| ||
K W Lam | Tel: +852 2894 6321 | ||
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Notes to Editors
Ekibastuz GRES-1 is the largest coal fired power station in Kazakhstan. The plant is undergoing a modernisation programme, to allow the plant to reach its nameplate capacity of 4,000 MW.
Kazakhmys acquired the plant in 2008 for $1,280 million. Samruk-Kazyna, the sovereign wealth fund, purchased 50% of Ekibastuz GRES-1 for $681 million. In the six months to 30 June 2012 Ekibastuz GRES 1 generated $278 million in sales revenues with EBITDA of $184 million on a 100% basis.
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, it 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.
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KAZ.L