Kaz Minerals Beats Annual Production Guidance Despite Decline
Thu, 28th Jan 2021 10:41
(Alliance News) - Kaz Minerals PLC on Thursday said its copper output for 2020 exceeded its guidance, while gold output met its guidance range, however the figures still reflected a decline from the prior year.
For the three months ended December 31, copper production dropped 6.4% to 75,700 tonnes, from 80,900 tonnes the year before. Meanwhile, annual output declined 1.8% year-on-year to 305,700 tonnes from 311,400 tonnes, but surpassed its guidance of between 280,000 tonnes and 300,000 tonnes.
Gold production for the final quarter of 2020 was 35,900 ounces, a 35% drop from 55,300 ounces in 2019. For the year as a whole, gold output was 196,300 ounces, a 2.6% drop from 201,500 ounces the year before. However, the figure was in line with Kaz s guidance range of 180,000 ounces to 200,000 ounces.
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28 January 2021 | 08:50am
StockMarketWire.com - Copper company Mining company Kaz Minerals said annual copper production in 2020 exceeded guidance, but sales fell short of output volumes amid shipment delays.
Full year copper production for 2020 was 305,700 tonnes, down from 311,400 tonnes, but 2% above guidance range, the company said.
Copper sales fell to 300,400 tonnes from 316,900 tonnes.
Fourth quarter production fell to 75,700 tonnes from 76,200 tonnes amid planned maintenance. Sales were below production volumes due to year end shipment delays at Kazakhstan-China border, the company said.
Full year gold production fell to 196,300 ounces from 201,500 ounces, and gold sales were 204.6 koz, down from 225.0 koz.
At 8:50am: [LON:KAZ] Kaz Minerals PLC share price was 0p at 639.4p