KAZ Minerals Reports Notable Growth in Copper Production

KAZ Minerals Reports Notable Growth in Copper Production

Increased Copper Output and Sales

KAZ Minerals has experienced a 7% increase in copper production, reaching 301,000 tonnes in the first nine months of 2023. This growth is attributed to the efficient ramp-up of the second concentrator at the Aktogay mine. The company has successfully cleared its backlog of finished goods inventories from the previous year, leading to a 43,000-tonne surplus in copper sales over production in 2023, as stated by CEO Andrew Southam.

Variation in Production of Other Metals

Zinc in concentrate production saw a 24% increase, benefiting from mining in regions with higher metal content and improved recovery rates. Silver production also grew by 11% due to processing higher-grade ores. In contrast, gold production decreased by 7%, primarily due to lower-grade ores processed at the Bozshakol and Bozymchak mines.

Aktogay Mine Performance

The Aktogay mine witnessed an 11% rise in ore mining, reaching 58.130 million tonnes. This increase was essential to meet the demand from the two sulphide concentrators and build up ore stockpiles for future processing. Overall, copper production at Aktogay improved by 14% compared to the previous year, with a notable 16% increase in copper output to 173,600 tonnes.

Bozshakol and Bozymchak Mines’ Output

At Bozshakol, ore extraction volumes rose by 24%, with copper output remaining stable at 77,500 tonnes. However, gold production at Bozshakol declined by 6%, with silver output increasing by 11%. The Bozymchak mine saw a 27% reduction in ore extraction due to the planned decrease in open-pit mining. Consequently, copper production at Bozymchak dropped by 12%, and gold production decreased by 9%.

Silver, Zinc, and Molybdenum Production

The company also reported a 12% increase in silver production to 1.477 million ounces and a 24% rise in zinc in concentrate production, reaching 36,400 tonnes. Additionally, molybdenum in concentrate production surged by 88% in the first nine months, totaling 2,679 tonnes.

KAZ Minerals operates several mines across Kazakhstan and Kyrgyzstan, specializing in copper production while also producing zinc, silver, and gold as by-products. The company’s operations include the Bozshakol and Aktogay open-pit copper mines and several underground mines with associated concentrators. icon

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