KAZAKHMYS PLC (United Kingdom) announced operation results for 2010

January 27. KASE

KAZAKHMYS PLC (United Kingdom) announced operation results for 2010Today Kazakhmys Group announced production results for the fourth quarter and twelve months of 2010. All Group operation divisions have successfully implemented the reporting period production plan.

For 12 months of 2010copper cathode production made up 303 thousand tonnes. By-product output exceeds indicators of the annual plan. Silver production made up 14,093 thousand ounces, gold – 127 thousand ounces. In comparison with 2009 results zinc in concentrate increased by 12% to 167 thousand tonnes.

Net generated power at Ekibastuz GRES-1 increased in 2010 to 14% and made up 11,065 GWh if compared with 2009. In 2010З, tariff for electricity increased to 4.49 tenge per kilowatt-hour that allowed implementation of the station investment program. Thus, capital costs in 2010 are by 172% higher than in the corresponding period of 2009 and include costs for restoration of inactive power units #8 and #2, repairing of active power units, reserve rotors and power filters.

In 2011, the Group continues implementation of investment plans, ecology measures, improvement of production safety and risk management methods to detect, assessment and registration of dangerous production factors. One of the objectives in 2011 is the increase of quality local products manufacturing procured by Kazakhmys, and further extension of cooperation with domestic producers and development of regions, where Kazakhmys implements activities.

Oleg Novachuk, Chief Executive Officer, said: “We summarize 2010 results, during which we had a stable production. In the last year we achieved good results and created a solid platform for future development. In 2011 the company retains the production plans at the level of 2010, i.e. 300 thousand tonnes of cathode copper and shall continue retaining production profitability and efficiency”.

http://www.kase.kz/en

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