OREANDA-NEWS. April 21, 2011. This preliminary results announcement includes the audited consolidated financial results of the Kazakhmys Group for the year ended 31 December 2010, including proportionate share of the unaudited earnings of ENRC PLC (ENRC), in which the Group has a 26% shareholding, on an equity accounted basis, reported the press-centre of KASE.

2010 HIGHLIGHTS

- Group EBITDA (excluding special items) of USD 2,835 million

  - USD 1,932 million from subsidiaries and joint ventures including discontinued operations

  - USD 903 million contribution from ENRC

  - Significant benefit from higher metals prices

- Copper production costs remained globally competitive at 89 USc/lb

  - Beating the target set at the start of 2010

  - Cost pressures increased over the course of 2010

- Underlying Profit for the year of USD 1,489 million

  - USD 476 million contribution from ENRC

  - EPS of 2.79 US cents based on Underlying Profit

- Lower rate of tax in 2010

  - All-in effective tax rate (CIT and MET) reduced on higher metals prices

  - Strong financial position ahead of significant capital expenditure programme

  - Net debt of USD 350 million from continuing operations, compared to USD 689 million at 31 December 2009

  - Draw down of first USD 700 million of CDB loan to fund growth projects
                                           
  - Market value of ENRC holding USD 4,998 million at 28 March 2011

- Dividend

  - Final dividend already declared of 16.0 US cents per share

  - Full year dividend increased by 144% from 2009.