Business & Industry

Set 1, 2015

Leader in Copper business

The demand for copper is growing. Copper is one of the key metals of modern economic development, found in nearly every new apartment or office block, vehicle and electrical appliance. It is one of the best heat and electricity conductors, it is resistant to corrosion and it is present in various alloys. Over the medium term supply remains constrained, and the outlook for copper is positive.

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KAZ Minerals is a high growth copper company focused on large scale, low cost open pit mining in Kazakhstan. The company plans to increase its copper production significantly with the commencement of its Major Growth Projects – Bozshakol, Aktogay and Koksay. At every step, KAZ Minerals aims to deliver value, not volume. In October 2014 the company completed a major restructuring of the Group which will enable it to focus on the delivery of its Major Growth Projects. The main goal is to achieve 80% of ore output from large scale, low cost open pit mines producing approximately 300 kt of copper in concentrate by 2018. This represents a compound annual growth in production of 35% between 2014 and 2018 – amongst the highest in the industry. KAZ Minerals also produces and sells significant quantities of zinc, silver and gold as by-products.

In 2014, total copper cathode output from continuing operations was 84 kt. The Group's continuing operations also produced 121 kt of zinc in concentrate, 3,435 koz of silver and 35 koz of gold in 2014.

KAZ Minerals crushes the ore in several stages and processes the ore into copper and zinc concentrates at our four concentrators. The copper concentrate from the East Region and Bozymchak is currently transported to the Balkhash smelter for processing. The Balkhash smelter is owned and operated by Cuprum Holding and KAZ Minerals has long term agreements with the latter company for the provision of smelting services. Copper concentrate from Bozshakol and Aktogay is expected to be exported directly to China. KAZ Minerals has recently agreed to conduct a scoping study to evaluate the possibility of smelting in Kazakhstan.

Corporate Responsability

KAZ Minerals is one of Kazakhstan's highest profile and fastest growing companies. With this economic strength comes a corporate responsibility to protect and respect our employees, their families and the local environment. The company is committed to its people and the communities and environements in which it operates.

The long-term prosperity of this business relies on addressing the economic, social and environmental implications of operations on local communities and Kazakhstan as a whole. Establishing and maintaining positive relations with communities, and contributing to the wider economy through employment, paying taxes, using local suppliers, and investing in community infrastructure helps to ensure a local licence to operate, as well as positioning KAZ as an attractive employer.

KAZ Minerals is a significant employer and tax payer, supporting local enterprise by procuring over half of the goods and services needed in Kazakhstan. The company respects the rights of anyone who comes into contact with its business, for instance by ensuring good working conditions and consulting with communities. KAZ also works to minimise the negative impacts of its operations, by controlling noise, dust and traffic levels and by ensuring that the vital resources that communities need are not exhausted.

Copper mining and processing is resource-intensive and KAZ Minerals aims to avoid related environmental damage at every stage of the mining lifecycle. Operation licences relies on fulfilling the requirements of environmental permits, and KAZ seeks to further reduce its enviromental impacts where possible. Doing so helps to manage financial, regulatory and reputational risks to the business. The company is investing in the upgrade of equipment to become more efficient, which brings environmental benefits, and also engages with environmental policymakers to help meet changing regulations in Kazakhstan.

The Group Restructuring completed in 2014 saw the disposal of the smelting and power generating facilities, along with a number of mature mines and concentrators, resulting in a change of our environmental footprint, but our overall impact on the environment will continue to be significant given the nature of our operations.

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