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IN BRIEF: Kaz Output Rises, On Track For Guidance But Notes Virus Risk

Thu, 30th Jul 2020 14:09

KAZ Minerals PLC - Kazakhstan-focused copper miner - Says first half copper production up 4% to 153,800 tonnes, driven by high ore throughput and improved grades at Bozshakol. Gold production was up 25% to 109,700 ounces due to higher processing volumes and grades at Bozshakol. All metals are currently on track to achieve full-year production guidance but Covid-19 risks are "elevated" in second half. "In the second quarter of 2020 KAZ Minerals grew copper production across all of its divisions and delivered a 5% increase in group output. This is an excellent performance in a challenging operating environment and reflects the dedication and resilience of our employees. We are entering the second half of the year with an elevated level of Covid-19 risk, however production of all metals is currently on track to achieve our full year targets," said Chief Executive Andrew Southam.

Current stock price: 537.40 pence

Year-to-date change: up 1.1%

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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