JOHANNESBURG (miningweekly.com) – Copper miner KAZ Minerals has increased its copper guidance for 2017 to between 250 000 t and 270 000 t, following a strong performance at its Aktogay mine, in eastern Kazakhstan.
The mine produced 31 200 t of copper, comprising 23 300 t from the newly commissioned sulphide operations and 8 000 t from oxide operations. This compares with output of 21 100 t in the second quarter and 6 600 t in the corresponding period, when only the oxide operations were in production.
Copper production also increased in the East Region operation in Kazakhstan and the Bozymchak copper/gold mine, in Kyrgyzstan. These operations produced 17 300 t in the third quarter, compared with 15 700 t in the second quarter. Production, however, fell short of the corresponding period’s output of 19 000 t.
In the nine months to September 30, copper production almost doubled to 193 300 t from 98 600 t in the prior-year period, owing to the contribution from sulphide operations at Bozshakol, in Pavlodar, and Aktogay.
Gold output of 44 800 oz in the third quarter was 11% lower than the previous quarter, with gold grades at Bozshakol reducing from the temporarily elevated levels in the first half of the year. Silver production of 952 000 oz was in line with the previous quarter.
Gold production for the first nine months of 2017 was 61% higher than the prior-year period, and silver production was 18% higher, owing to increased production at Bozshakol, prompting KAZ to raise its full-year guidance. The group now expects to produce between 160 000 oz and 180 000 oz of gold and between 3.45-million ounces and 3.70-million ounces of silver.
The LSE-listed group previously said it expected to produce between 235 000 t and 260 000 t of copper in 2017, as well as between 135 000 oz and 170 000 oz of gold and between 3.1-million ounces and 3.35-million ounces of silver.