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Kazakhmys 2012 Q4 production report

Investment Tools Ltd.
Kazakhmys 2012 Q4 production report

KAZAKHMYS PLC PRODUCTION REPORT FOR 12 MONTHS AND THE FOURTH QUARTER ENDED 31 DECEMBER 2012

Copper cathode production in line with guidance for the year

12% increase in ore extraction partly offset by anticipated decline in grade

Total cathode production of 294 kt for the full year

Production from own concentrate of 292 kt

By-product output in line with full year targets for all metals

Zinc in concentrate production of 152 kt

Silver ahead of guidance at 12,643 koz, reflecting higher than anticipated grade

Total gold production of 129 koz

Continued strong performance from Kazakhmys Power

13% increase in net power generated at Ekibastuz GRES-1, supported by continuing growth in demand and increase in available capacity

Commissioning of sixth unit completed in Q4 2012, raising capacity by 20% to 3,000 MW

 

Oleg Novachuk, Chief Executive Officer, said:

"We have met our production targets for the fifth consecutive year, and I would like to thank all of my colleagues for helping us to achieve this exceptional result. Copper production in 2013 should remain at a similar level to 2012 and annual sales contracts for the year have already been signed. I look forward to giving further updates on 2013 and in particular the progress on our major growth projects, Bozshakol and Aktogay, at our results on 28 February."

 

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