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KAZ Minerals posts record Q3'19 copper output on Aktogay, Bozshakol performances

KAZ Minerals PLC achieved record quarterly copper production of 82,900 tonnes during the third quarter, up from 77,200 tonnes in the same period of 2018, driven by strong performances at its Aktogay and Bozshakol mines in Kazakhstan.

Gold production for the quarter totaled 58,500 ounces, rising from 45,200 ounces year over year. Zinc output dropped to 10,500 tonnes from 13,400 tonnes, and silver increased to 944,000 ounces from 941,000 ounces.

The company said Oct. 24 that it is on track to meet full-year copper production guidance of 300,000 tonnes, while gold production is now forecast to exceed the top end of guidance of 170,000 to 185,000 ounces by about 5%.

Copper production from Aktogay increased year over year to 37,300 tonnes from 34,900 tonnes, which the company attributed to maintaining high sulfide copper grades and throughput levels. It reaffirmed full-year guidance for the mine at 130,000 to 140,000 tonnes of copper.

KAZ Minerals said Bozshakol achieved record quarterly production with 32,100 tonnes of copper, up from 25,200 tonnes in 2018. Output from the East Region Operations and its satellite Bozymchak mine in Kazakhstan fell to 13,500 tonnes from 17,100 tonnes due to lower processing volumes and grades.

In the first half, the company's copper output rose 6% year over year to a record level of 147,600 tonnes.