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KAZ Minerals FY'16 copper output jumps 73% YOY

KAZ Minerals PLC on Jan. 26 said its full-year 2016 copper cathode equivalent production rose 73% from 2015 to 140,300 tonnes, in the middle of its forecast range for the period. The performance reflects the ramp-up of the sulfide concentrator at Bozshakol and the oxide operations at Aktogay.

Zinc-in-concentrate production however, dropped year over year to 75,400 tonnes from 94,300 tonnes a year ago.

Silver bar equivalent output was in line with prior year figures at 3.1 million ounces, while gold bar equivalent production in 2016 of 119,700 ounces was higher than the 34,600 ounces produced in 2015.

In the fourth quarter of 2016, copper cathode production increased year over year to 43,200 tonnes, from 22,700 tonnes a year earlier. Copper-in-concentrate production in the quarter was 40,800 tonnes, compared to 23,000 tonnes in the prior-year period.

Zinc-in-concentrate production fell to 19,200 tonnes from 21,000 tonnes a year earlier, as mine ore volumes and grade reduced in the East Region in line with expectations.

Quarterly output of silver bar equivalent increased to 867,000 ounces from 686,000 ounces in the fourth quarter of 2015. Gold bar equivalent production totaled 39,700 ounces, increasing from 6,400 ounces produced a year ago.