Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Kazakhstan’s Kaz Minerals has revised its 2021 copper and zinc guidance down to 279,412-300,000mt and 40,000mt, respectively, compared to its 2020 output.


The company produced 305,790mt of copper last year with its sales of the red metal falling by 5.2pc in 2020 compared to the previous year, the miner noted in January.  


However, Kaz’s, revenue increased by 4pc to $2.36mn from $2.26mn in 2019 on higher copper prices especially in the second half of the year. The company’s 2020 EBITDA also rose to $1.43mn compared to $1.36mn in the prior year. 


The company has also accepted the increased share buyout offer from Bidco-Nova Resources BV (Bidco) at £6.4 ($8.84) per share in their acquisition deal. Kaz Minerals and Bidco have been discussing the acquisitions of the former’s shares since February. In an increased offer and acceptance document dated Mar 10, Kaz set a deadline of Mar 23 for Bidco to respond to its acceptance and finalize the deal.

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