Kazakhmys To Reach The Lucrative Level By 2017

Kazakhmys To Reach The Lucrative Level By 2017Corporation “Kazakhmys” plans to enter the lucrative level in 2017, said the agency “Interfax-Kazakhstan” company chairman Bakhtiyar Krykpyshev.

“We are already in 2017 plan to reach profitability. By the end of this year, our businesses, which are being upgraded, at full capacity, respectively, by next year we need to give profit and for the whole corporation to go to high-profitability. If you look at our current copper prices, the profit is small. But most importantly – it will be a “plus”, – said B.Krykpyshev.

He explained that currently the profitability of “Kazakhmys” is to “zero” level.

“According to our cost of production today, we are working” at zero “, we have almost all enterprises are low-profit. Accordingly, if in 2015 we had minus figures for profitability, at the moment, our profitability at “zero” level. Neto profit “, – stated the head of the company.

As is well known, from July 2011 to August 2016, copper prices fell by half – from $ 9711 to $ 4750 per ton.

In line with the development strategy of the Corporation “Kazakhmys”, the company expects profit at the expense of the investment program to modernize and expand production capacity.

As reported, this year the “Kazakhmys” will increase investments in the expansion of production by 2.6 times – up to 115 billion tenge.

Corporation “Kazakhmys” – a leading company in the production and processing of natural resources, the largest copper producer in Kazakhstan. As part of the company’s ten mines, five concentrators, two copper smelting plant, two coal mines. “Kazakhmys” controls the production facilities, leading ore extraction and its processing into marketable metal. The Corporation has a domestic power plants that provide electricity unit and carry out its sale to third parties.