2 October 2016

Kazakhmys expands production

Kazakhmys plans to continue to expand production. Representatives of the Corporation reported financial plans for 2016. Before it is completed, about 115 billion tenge will be invested in production facilities. The funds are planned to be spent on the completion of the construction of mines located in the Zhezkazgan region. The investments will also be directed to the launch of a mine located in the Karaganda region. It is planned to finance the development of the field located in the Kostanay region. The estimated increase in investment is very significant. Bakhtiyar Krykpyshev, Chairman of the Board of the Corporation, spoke about the plans of Kazakhmys. He compared with 2015. At that time, investments in the expansion of production amounted to about 45 billion tenge. Investments of 2016 will increase by 70 billion tenge.

The corporation will send finance for the completion of the construction of the mines at the Zhaman-Aibat deposit. It is located in the Zhezkazgan region and includes Zhomart and Sary-Oba mines. In Kostanay region, the exploitation of the Kusmurin field will be started. In the Karaganda region, a mine located at the Abyz field will begin operations. It is also planned to direct funds to increase the volume of processing of raw materials. Financing will affect two concentrators in the Karaganda region. The volume of processed ore in the Kargayli enrichment production will increase to 2 million tons per year. Before that, the figure was 1.6 million tons. At the Nurkazgan combine, the amount of processed raw materials will increase to a level of 4 million tons per year. The previous figure reaches 3.3 million tons. Expansion of production volumes at these enterprises is planned to be completed in 2017.

Production indicators of the Corporation are also increasing. In the first half of 2016, Kazakhmys produced 111.6 thousand tons of cathode copper . Relative to the same period last year, the result improved by 8%. During the six-month period, the concentrating plants of the Corporation processed 14.8 million tons of raw materials. In this period, the content of copper in raw materials reached 0.94%. This figure is 4% higher than the planned level. Compared with the same period last year, the result was improved by 0.88%. In 2017, the Corporation plans to produce 224.4 thousand tons of cathode copper .

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