Kazakhmys Copper sales increased by 38 thousand tons

In the first half of the year Kazakhmys demonstrated steady performance indicators in accordance with the annual plan, while the financial results reflect a decline in metal prices and rising production costs.

The volume of copper products in the first half of 2013 increased by 38 million tonnes, which led to the decline in metal prices and an increase in income from the sales up to $ 1.571 billion. The average selling price was $ 7,508 thousand for 1 ton, compared with $ 8,253 thousand in the first half of 2012. The sales volumes increased due to a higher production volumes and reduced volumes of finished products, IMS "Metal Supply and Sales" reports.

The development of the project Boschekul continued in the first half of 2013. The acquisition of the main part of the equipment was finished. The volume of construction works included the construction of concrete foundations and structural steel for mine and other infrastructure. Large-scale equipment delivery is carried out. Expected capital expenditures in 2013 will be $ 500-600 million.

On the field Aktogai preparatory works were followed by the supply of equipment and construction of temporary facilities for the staff. The preparatory works were carried out at the permanent facilities, and on-site leaching, where the oxidized ore will be processed. The detailed engineering works were carried out on the basis of engineering developments of the project Boschekul. The orders for the equipment necessary for the project with long delivery were placed in order to reduce the risk of displacement of project schedules. Expected capital expenditures in 2013 will count $ 500-600 million.

General Managing Director Oleg Novachuk noticed: "The beginning of the year is marked by steady results obtained through the implementation of the production plan and cost inflation that was lower than expected. Our hard work over the maintenance of copper production through better resources management brings good enough results, and we have to reach the upper limit of the expected range of annual copper production. During the year we will continue to focus on increasing cash flow from current production and the further promotion of our major growth projects. "