KAZ Minerals beefs up its production

In 2022, KAZ Mineral increased its copper output to 380,000 tons or 27% more than in the year before.

«In 2022, the Kazakhstani copper company KAZ Minerals produced 380,000 tons of copper, a 27% increase over 299,000 tons produced in 2021. Successful introduction of up-to-date standards at the second sulfide concentrator at Aktogay and increased production at the first sulfide concentrator have become main drivers of the increase» the company said in a statement.

However, in the fourth quarter of 2022, copper production dropped by 10% to 98,000 due to the maintenance of the first sulfide concentrate in Aktogay and sulfide concentrate at Bozshakol.

According to the company, gold production reached 171,000 ounces, a 2% increase over 2021. KAZ Minerals has managed to do this thanks to more rich ore at the Bozshakol field. The company also reported a significant increase in sales of copper over its production, as the company has been aiming to get rid of its inventories of copper.

KAZ Minerals also increased its production of silver from 3.4 million ounces in 2021 to 3.8 million ounces now. The production of zinc concentrate has risen to 47,000 tons compared to 46,500 tons in 2021.

KAZ Minerals operates the Aktogay and Orlovsk mines in the Abay region, the Bozshakol open pit copper mine in the Pavlodar region of Kazakhstan, three underground mines and associated concentrators in the East Region of Kazakhstan and the Bozymchak copper-gold mine in Kyrgyzstan. The company has also completed a feasibility study for the Baimskaya project in the Chukotka region of Russia which it bought in 2019. The Peschanka deposit within the Baimskaya license area in Russia has JORC resources of 9.9 megatons of copper at an average grade of 0.39% and 16.6 million ounces of gold at an average grade of 0.21 g/t.