KAZ Minerals (00847) 1Q copper production up 16% QoQ

    KAZ Minerals (00847) said its copper production for the first quarter of 2017 increased by 16% quarter-on-quarter to 52.1 kt, driven by the successful commissioning of the Aktogay sulphide concentrator, which contributed 7.2 kt in Q1 2017, as well as the continuing ramp up of Bozshakol.
  The contributions from Bozshakol and Aktogay have resulted in a 130% increase in copper production versus the prior year period.
  Total copper sales were 50.5 kt, more than double the 24.1 kt sold in the same period last year. Copper cathode sales grew 16% compared to the prior year period, reflecting the contribution from the Aktogay oxide plant, partly offset by lower production from the East Region. Copper in concentrate sales volumes increased to 23.9 kt, with sales of 18.3 kt from the Bozshakol sulphide plant and 4.3 kt from the Aktogay sulphide plant.
  Zinc in concentrate output reduced 19% from Q4 2016 to Q1 2017 due to a temporarily lower zinc grade at Artemyevsky. Zinc in concentrate production declined 22% compared to the prior year period, also due to the mine closure and a lower grade of zinc in ore processed at Orlovsky. 
  Gold production was stable at 42.5 koz compared to 42 koz in the previous quarter, as a 2 koz increase in output from Bozshakol was offset by declining production from the East Region. The 27.3 koz increase in contribution from Bozshakol led to significantly higher gold production compared to Q1 2016.
  KAZ Minerals had applied for the resumption of trading in shares tomorrow morning.