BAKU, Azerbaijan, Apr. 30
By Nargiz Sadikhova - Trend:
Copper production of Kazakhstan’s KAZ Minerals company reached 74,900 tons in 1Q2020, which is 7 percent more than during the same period of 2019 and on track to achieve 2020 guidance of 280,000-300,000 tons, Trend reports with reference to the company’s report.
In turn, strong gold production of 55,400 ounces (55,300 ounces in 4Q2019) was driven by high ore throughput at Bozshakol mine.
The copper production at Aktogay mine was 33,300 in 1Q2020 (34,300 tons in 4Q2019) as sulphide ore throughput was reduced by the planned mill relining deferred from 4Q2019 and temporarily lower recoveries.
The copper cathode production from oxide ore increased at Aktogay mine to 6,100 tons (4,200 tons in 4Q2019) due to seasonal factors and following optimization works.
The results at Aktogay mine are on track to achieve full year copper production guidance of 120,000-130,000 tons with lower sulphide grades expected over the rest of 2020.
Copper production at Bozshakol mine was 29,800 tons in 1Q2020 (31,000 tons in 4Q2019) which is 4 percent less than in 4Q2019 and 25 percent more than in 1Q2019, is also well positioned for full year guidance of 110,000-120,000 tons.
Gold production at Bozshakol mine was 42,300 ounces (41,800 ounces in 4Q2019) which benefited from higher processing volumes and recovery rates, representing good progress against full year guidance of 140,000-150,000 ounces. Silver production at Bozshakol was 232,000 ounces which also serves to reach annual production plan of 700,000 ounces.
Copper production in East Region and Bozymchak mine in Kyrgyzstan was 11,800 tons in 1Q2020 (15,600 tons in 4Q2019) due to stockpiling of ore at Nikolayevsky mine in January.
Gold production of 12,500 ounces (12,900 ounces in 4Q2019) at East Region and Bozymchak mine was due to lower East Region processing volumes partially offset by strong output from the Bozymchak mine in Kyrgyzstan of 9,500 ounces (9,400 ounces)
Silver production was 443,000 ounces (511,000 ounces in 4Q2019) in 1Q2020 and zinc in concentrate output was 9,000 tons (9,400 tons), both in line with expectations.
Thus, 2020 production guidance is maintained for all metals.
KAZ Minerals is the largest copper producer in Kazakhstan, focused on the mining of copper and the development of new copper mining projects in Kazakhstan and Russia.
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