Kazakhmys PLC Reports Production Results for 2007
OREANDA-NEWS. On 30 January 2008 Kazakhmys PLC Announced Production Summary for 12 Months and the Fourth Quarter Ended 31 December 200
Copper cathode production for the year ended 31 December 2007 is in line with the guidance
outlined in the Q3 production report. Total copper cathode production for the period was 380 thousand tonnes, of which 341 thousand tonnes was from own material.
- Cathode output from own material increased by 7% from the previous quarter to 92
thousand tonnes.
By-product output over the full year was generally positive compared to 2006:
- Zinc in concentrate production rose 3% to 133 thousand tonnes, due to the higher
output of zinc bearing ores.
- Silver production declined by 12%, with decreased production of silver bearing ores in
the Zhezkazgan region.
- Gold production increased by 6%, to 113 thousand ounces, reflecting ore grade
increases.
Improvements were seen towards the year end in the deliveries of ordered equipment
facilitating the availability, maintenance and repairs of mining equipment and facilities.
Equipment availability and delivery remains a key area of management focus.
Mining started, as planned, in January 2008 at the re-opened Abyz mine and the new
Akbastau mine.
Kazakhmys Gold and Kazakhmys Petroleum are included in the report for the first time.
- Kazakhmys Gold has received the extension of the licence to develop the major
Bozymchak Deposit in Kyrgyzstan.
- Kazakhmys Petroleum has started drilling exploratory wells in the shallow northern area
and seismic testing in the southern area.
Oleg Novachuk, Chief Executive Officer, said “2007 brought some production challenges, especially in the supply of equipment and the flood at South Mine. Improvements were seen in several areastowards the year end, along with the introduction of a new concentrator, two concentrator upgradesand the recent commencement of mining at Abyz and Akbastau. We are looking forward to a positive year in 2008 with opportunities to grow production and to develop our programme for operational improvements. There are several new projects and upgrades to be carried out during 2008, along with further work on our major growth assets and we will continue to focus on the success of our core business, alongside the other areas of our strategy.”
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