Kaz Minerals on track to meet FY guidance

(Sharecast News) - Kaz Minerals on Thursday said it was on track to meet annual production guidance as first quarter copper production rose 4% to 70,000 tonnes year on year. The rise was due to record processing volumes at the company's Atogay mine, which produced of 37,000 tonnes, offsetting lower average grades and seasonal variation in oxide production, Kaz said in a trading update.Copper production at East Region and Bozymchak mine fell to 9,500 tonnes from 15,300 year on year, while at the Bozshakol operation it slipped to 23,800 tonnes from 26,600 tonnes.Gold output fell to 43,400 ounces, a 13% fall year-on-year."Higher output from Bozshakol and the East Region is expected over the remaining nine months of the year with the group to deliver full year copper production of circa 300,000 tonnes," the company said.