Kazakhmys PLC Production Summary for Six Months and the Second Quarter Ended 30 June 2012
Copper cathode production from own concentrate of 136 kt
- Output recovering following the severe weather in Q1
- Metal in mined ore up 4% versus H1 2011
- Extraction restarted at Konyrat mine
- On track to meet full year target of between 285 to 295 kt of copper cathode
By-product output on track to meet full year targets
- Strong recovery of zinc in concentrate production in Q2 2012
- Build-up of precious metals work in progress in Q2 to be processed in H2 2012
Continued robust demand for power from domestic market
- Strong domestic demand led to a 10% rise in net power generated at Ekibastuz GRES-1
- 13% increase in average realised tariff at Ekibastuz GRES-1 in Q2 2012
Oleg Novachuk, Chief Executive Officer, said: "Following the severe weather at the start of the year, we are continuing to raise our output and we remain on track to meet our production targets set at the start of the year. The power business has continued to perform well, reflecting operating efficiency and strong domestic demand. It is a challenging global environment, but I look forward to reporting our half yearly results in August."
