Kazakhstan-based copper and zinc producer Kaz Minerals’ total copper production in 2020 stood at 305,700mt, down by 1.8mt as compared to 311,400mt produced in 2019, surpassing its 2020 guidance range by 2pc, the company said in its quarterly report.
The company said that it witnessed a strong performance at all divisions.
Copper sales in 2020 fell by 5.2pc to 300,400mt as compared to 316,900mt sold in the preceding year. The company’s total copper sales were lower than production volumes due to year-end shipment delays at the Kazakhstan-China border.
In the fourth quarter of the year (Oct-Dec, 2020), the company’s copper output stood at 75,700mt, down by 6.4pc from 76,200mt in the same quarter in 2019 and by 0.7pc as compared to 80,900mt in the prior quarter (Q3 2020).
Bozymchak mine resumed operations on Dec 26, 2020, after a temporary halt since Oct 7, following political instability in Kyrgyzstan.
There was no major impact on the company’s operations in Q4 due to COVID-19 except minor delays in shipments to and from China, the company said.
In 2020, the company produced 49,700mt of zinc in concentrate, registering a growth of 29.8pc from 38,300mt produced in the previous year.
In Q4 2020, the company’s zinc in concentrate output rose by 8.5pc to 10,200mt from 9,400mt produced in the prior-year period but fell by 35pc as compared to 15,700mt in Q3 2020.
Kaz Minerals Plc is a high growth copper miner and producer, focusing on large-scale and low-cost open-pit mining in Kazakhstan, Russia, and Kyrgyzstan.