Kaz Minerals Boosted By New Copper Mines

KAZ Minerals Begins Testing And Commissioning At Aktogay

KAZ Minerals increased earnings and cut costs sharply in the first half of the year as the new mines on which the copper producer has staked its future start to ramp up.

Shares in the UK-listed miner rose more than 11 per cent on Thursday as the miner said it was seeing the benefits of a substantial restructuring in 2014.

Formerly known as Kazakhmys, the miner split itself by hiving off its higher cost older mines to a company set up by Vladimir Kim, its largest shareholder, while KAZ invested more than $4bn in building two low cost mines in Kazakhstan.