Kaz Minerals Q4 copper production beats forecasts

Kaz Minerals reported a better-than-forecast rise in annual copper production as its Aktogay mine in East Kazakhstan outperformed.

Full-year copper production came in at 311,000 tones, beating Kaz's own guidance of 300,000 tonnes. Aktogay produced 145,700 compared with guidance of 130,000 – 140,000, the company said on Thursday.

Full year gold production rose increased 10% to 201,500 ounces due to high grades at the Bozshakol and Bozymchak in Kazakhstan and Kyrgyzstan.

“The group continues to combine output growth with low unit costs and the expansion project at Aktogay will contribute additional volumes when completed in 2021,” Kaz said in a statement.