Kazakhstan Reduces Silver Export

Polymetal on track for full year as gold sales grow

In 2016 Kazakhstan has reduced export of silver, however revenues grew and the country earned $584 million, according to energyprom.kz.

Export volume in physical terms decreased by 8.8 percent, but in monetary terms it increased by 21.2 percent. In 2016 export of unprocessed or semi-finished silver and silver powder, has reached 1.17 thousand tons and $584.6 million.

Kazakhstan’s main partner here is United Kingdom. In 2016 the country also started shipping to Italy. In 2015 it exported silver to Hong Kong.

Silver made 1.6 percent compared to 1 percent in 2015 of total export revenues.

In physical terms export grew in 2014-2015 reaching maximum in 2015. However, in monetary terms in 2014 there was a decline, and in 2015 – the increase was slight making only 4.1 percent. 2016 growth in monetary terms is the most significant in recent years (previous was in 2012).

In 2016 production of raw and semi-finished silver reached 1.18 thousand tons – 9.6 percent less than in 2015.

Largest silver producer in Kazakhstan are: KAZ Minerals, Kazzinc and Russian Polymetal International plc.