KAZ Minerals PLC Notice of Results (6490W)

TIDMKAZ

RNS Number : 6490W

KAZ Minerals PLC

02 August 2018

2 August 2018

NOTICE OF HALF-YEARLY RESULTS

FOR THE PERIOD ENDED 30 JUNE 2018

KAZ Minerals PLC will announce its half-yearly results for the six months ended 30 June 2018 on Thursday 16 August 2018 at 7.00am (UK time).

A presentation for analysts will be held in the Theatre & Theatre Gallery at the London Stock Exchange, 10 Paternoster Square, London EC4M 7LS on Thursday 16 August 2018 at 9.00am (UK time).

The presentation for analysts can also be accessed by conference call on Thursday 16 August 2018 at 9.00am (UK time). The dial-in details are as follows:

Telephone: [phone]

Please quote the password: KAZ Minerals

A webcast of the presentation for analysts will also be available on the KAZ Minerals website (www.kazminerals.com).

For further information please contact:

 
 KAZ Minerals PLC 
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 Chris Bucknall                   Investor Relations, London         Tel: [phone] 
 Anna Mallere                     Investor Relations, London         Tel: [phone] 
 Maksut Zhapabayev                Corporate Communications, Almaty    Tel: [phone] 
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 Brunswick Group 
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 Carole Cable, Charlie Pretzlik                                      Tel: [phone] 
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REGISTERED OFFICE

6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL, United Kingdom.

NOTES TO EDITORS

KAZ Minerals is a high growth company focused on large scale, low cost, open pit copper mining. It operates the Bozshakol and Aktogay open pit copper mines in the Pavlodar and East Region of Kazakhstan, three underground mines and associated concentrators in the East Region of Kazakhstan and the Bozymchak copper-gold mine in Kyrgyzstan. In 2017, total copper production was 259 kt with by-products of 58 kt of zinc in concentrate, 179 koz of gold and 3,506 koz of silver.

The Group's new operations at Bozshakol and Aktogay have delivered one of the highest growth rates in the industry and transformed KAZ Minerals into a company dominated by world class, open pit copper mines.

Bozshakol is a first quartile asset on the global cost curve with an annual ore processing capacity of 30 million tonnes and a remaining mine life of 39 years at an average copper grade of 0.35%. The mine and processing facilities will produce an average of 100 kt of copper cathode equivalent and 120 koz of gold in concentrate per year over the first 10 years of operations.

Aktogay is a large scale, open pit mine similar to Bozshakol, with a remaining mine life of 28 years at an average copper grade of 0.36% (oxide) and 0.33% (sulphide). Aktogay commenced production of copper cathode from oxide ore in December 2015 and copper in concentrate from sulphide ore in February 2017. The operating sulphide concentrator has an annual ore processing capacity of 25 million tonnes and the sulphide processing capacity will be doubled to 50 million tonnes with the addition of a second concentrator by the end of 2021. Aktogay is competitively positioned on the global cost curve and will produce an average of 90 kt of copper per year from sulphide ore until 2021, increasing to 170 kt per year from 2022 to 2027, after the second concentrator commences operations. Copper production from oxide ore will be in the region of 20 kt per annum until 2025.

In August 2018 the Group agreed to acquire the Baimskaya copper project in the Chukotka region of Russia, subject to regulatory approvals that remain outstanding. Development of the Peschanka deposit within the Baimskaya licence area is expected to deliver 250 kt of annual copper production and 400 koz of gold in the first ten years of operation, with a mine life of approximately 25 years.

KAZ Minerals is listed on the London Stock Exchange and the Kazakhstan Stock Exchange and employs around 13,000 people, principally in Kazakhstan. The Group delisted from its secondary listing on the Hong Kong Stock Exchange on 1 August 2018.

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August 02, 2018 07:00 ET (11:00 GMT)