Kazakhmys copper output up 10 pct as split plan nears completion

LONDON, Oct 30 (Reuters) - Copper producer Kazakhmys posted a 10 percent output increase in the first nine months ofthe year from the assets it will retain as a plan to split thecompany in two nears completion.

Like its peers, Kazakhmys is battling rising productioncosts and falling metal grades which together with weaker priceshave squeezed margins.

Under its restructuring plan, which has now obtainedregulatory consents, Kazakhmys is transferring some of its olderand less-profitable assets to a private company owned by two ofits shareholders.

The Kazakh miner produced 59,000 tonnes of copper cathodeequivalent in the first nine months of the year from the assetsit will retain, up 10 percent from the same period a yearearlier.

Output was helped by a modernisation programme which raisedconcentrator productivity.

The London-listed miner said it was on track to achieve itsfull-year production target of 80,000-85,000 tonnes. (Reporting by Silvia Antonioli; editing by Jason Neely)