Russian miner Kaz Minerals produced 3pc less copper in Q1 2021 at 72,400mt from 74,900mt during the same period last year. However, it has increased the upper end of its guidance range to 295,000mt annually from 279,000mt.
Kaz’s Aktogay and East Region & Bozymchak facilities produced 2pc and 3pc more copper in the first quarter of the year at 33,900mt and 12,2000mt respectively, from 33,300mt and 11,800mt during the prior-year quarter. At the same time, copper production at the Bozshakol mine declined 12pc at 26,300mt from 29,800mt during the same quarter period last year.
Kaz attributes the lower copper output from Bozshakol to maintenance schedules of concentrators and low-grade throughputs.
The miner’s zinc concentrate output was up 7pc at 9,600mt in Q12021 from 9,000mt during the same three-month period in the previous year.