Kaz Minerals on track to achieve full year production guidance as Q1 output rises

Kaz Minerals said Thursday it remained on track to achieve 2018 production guidance for all metals as output increased in the first quarter of the year.

'We are on track to achieve our guidance across all metals for the full year, targeting 270-300 kt of copper production and 160-175 koz of gold,' the firm said.

Copper production increased by 3% to 67.3 kt in Q1 2018 from 65.2 kt the previous quarter, supported by higher output at Bozshakol and Aktogay sulphide. Copper production in Q1 was 17% higher compared to output of 22.9 kt in Q1 2017.

Total copper in concentrate sales were 41.7 kt in the three months to 31 March 2018, an increase of 17.8 kt over Q1 2017.

Gold production rose 22% to 49.9 koz from Q4, driven by higher throughput, improved recovery and strong grades. Gold sales increased by 6.2 koz due to higher production from the Bozshakol sulphide plant.

Full-year gold guidance was maintained at 115 koz to 125 koz, with lower grades expected for the remainder of the year.

Silver production rose 7% to 852 koz from 798koz.

Zinc in concentrate output increased by 20% to 14.2 kt compared to the previous quarter.

At 9:04am: (LON:KAZ) Kaz Minerals PLC share price was -0.8p at 905.8p