Kaz Minerals (KAZ LN) has reported strong half year financials following strong Q2 2016 production results. Group copper cathode equivalent production was up 43% in H1 2016 to 53kt as a result of the contribution from the ramp ups at Bozshakol and Aktogay. Despite the increase in production, revenue of US$302m was down 11% YoY largely due to a 21% YoY decline in average copper prices. Gold production was also up strongly by 143% YoY to 39koz further offsetting weaker copper prices.
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
VSA Morning Miner
- Published:
18 Aug 2016 -
Author:
Oliver O’Donnell -
Pages:
3
Kaz Minerals (KAZ LN) has reported strong half year financials following strong Q2 2016 production results. Group copper cathode equivalent production was up 43% in H1 2016 to 53kt as a result of the contribution from the ramp ups at Bozshakol and Aktogay. Despite the increase in production, revenue of US$302m was down 11% YoY largely due to a 21% YoY decline in average copper prices. Gold production was also up strongly by 143% YoY to 39koz further offsetting weaker copper prices.