Public company info - KAZ Minerals PLC , 00847.HK
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KAZ Minerals PLC, 00847.HK - Company Profile
Chairman Oleg Novachuk
Share Issued (share) 458,000,000
Par Currency Hong Kong Dollar
Par Value 0.0
Industry Nonferrous Metal
Corporate Profile Business Summary: The Group is a large natural resources group whose primary assets are located in Kazakhstan. The Group is a fully integrated copper producer engaged in the mining, processing, smelting, refining and sale of copper and copper products, including copper cathode and copper rod. Performance for the year: Gross Revenues double to $1,938 million (2016: $969 million) as the Group delivers production growth into stronger commodity markets Gross EBITDA of $1,235 million (2016: $492 million) Business Review: The ramp up of the group's new mines proceeded in line with management expectations in 2017, with the 25 million tonne per annum Bozshakol sulphide concentrator achieving 100% of design capacity in August. The smaller 5 million tonne clay processing plant at Bozshakol ramped up to 82% of capacity in the fourth quarter of 2017, after commencing production at the end of 2016. Total copper production at Bozshakol in 2017 was 101 kt, an increase of 111% compared to 2016. The Aktogay sulphide concentrator started production in February 2017 and ramped up ahead of schedule. Combined sulphide and oxide copper production was 90 kt against initial guidance of 65–85 kt, five times higher than the 18 kt produced in 2016 from the oxide plant. The sulphide concentrator achieved commercial levels of production at the end of September in line with guidance and remains on track to achieve 100% of design capacity during 2018. At the East Region and Bozymchak, copper production of 67 kt exceeded the target for the year of around 65 kt and gold production of 59 koz was at the upper end of guidance. Works to extend the life of the Artemyevsky mine continued according to the project plan. The Group produced 259 kt of copper in 2017, at the upper end of the original guidance range of 225–260 kt given at the start of the year and in line with the revised guidance range of 250–270 kt set in the second half, following good progress with the ramp up at Aktogay. Gold production of 179 koz was at the upper end of expectations, supported by high gold grades at Bozshakol and strong output from Bozymchak. Silver production was in line with guidance at 3,506 koz, with lower silver grades in the East Region in the fourth quarter offset by the contribution from both Bozshakol and Aktogay. Zinc in concentrate production of 58 kt was below guidance of 60–65 kt, as access to high zinc grade areas in the East Region mines was deferred. Prospects: The Group has delivered another year of high production growth in 2017 as Bozshakol and Aktogay have continued to ramp up. The group's asset base now mainly consists of large scale, low cost copper mines which are set to generate significant cash flows in the future. The group have established a strong platform and the group are well positioned to benefit from the expected tightness in the copper market, as declining global supply coincides with continued growth in demand.

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