Kaz Minerals FY copper production comes in at top end

24th Jan 2019 07:49

(Sharecast News) - Copper miner KAZ Minerals reported fourth quarter copper production of 77.9 kt up from 2017's 65.2 kt, making full-year output 294.7 kt, an increase of 14% year on year and at the upper end of its guidance range of 270 kt - 300 kt.Full-year gold production increased to 183.4 koz, up from last year's 178.7 koz, while silver production rose to 3,511 kt from 3,506 kt a year ago.Chief executive Andrew Southam said about 45% of copper production came from the Aktogay mine, commissioned in 2017, which ramped up to produce 131.4 kt of copper, an increase of 46% compared to the prior year."I am particularly proud that 2018 marks the tenth consecutive year in which the group has achieved its annual copper production guidance, a period which includes the successful ramp up of our two major growth projects in Kazakhstan, Bozshakol and Aktogay," he said.