KAZAKHMYS PLC (United Kingdom) informed on results of its activities for Q1 2008

04.05.08 12:27
/KASE, May 4, 08/ - KAZAKHMYS PLC (London), common shares of which are traded in the official list of Kazakhstan Stock Exchange (KASE) of category "А", provided KASE with the press release which reads as follows: Quotation start - Copper production meets expectations accounting severe winter conditions - Ore production totaled to 8.3 m. tons; compared to that of Q4 2007 the increase is 7% thanks to production at new mines - Cathode copper production from its own concentrate in the volume of 76 th. tons decreased by 10% compared to that of Q1 2007 due to a planned stop for technical maintenance in Balkhash and severe winter weather conditions. - Cathode copper production corresponds to Q1 2006 which is more corresponding with the winter period - Weather conditions affected concurrent production of precious metals, though zinc production was resistant to the seasonal weather influence thanks to time normalization factors - Zinc production in concentrate increased by 6% compared to that of Q4 2007 thanks to raw material time normalization - Silver production decreased by just 3% to 4 m. ounces compared to that of Q4 2007, because production operations were interrupted by bad weather conditions - Gold production decreased by 2% compared to that of Q4 2007, though was affected positively by launching of production operations at Akbastau mine - Enhancements at the main production areas - There were enhancements in supply and delivery of equipment, though this area is still under serious observation of the management - Successful production growth at mines Akbastau and Abyz - There are good extraction factors at qualified processing of raw material at Nurkazganskaya concentration plant - Production enlargement projects at mines Aktogay abd Boschekul are being realized. The development directions thereon were received during sizing up of the annual results of activities for 2007 - The deal in Ekibastuz is being made and will be executed by the end the first half of 2008 - Integration plan is being implemented - Electro-energetics potential in Kazakhstan remains at high - 14.6% stake in ENRC maintains high yield of investments at the background of ascending raw material prices - 94% jump of shares market value, since the end of 2007* - This block of stock currently is being assessed USD4.65 bn. worth - This gives an equivalent of 515 pence per one share* of Kazakhmys Oleg Nikolaevich Novachuk said: "We are glad to announce an increase of oil ore production in the first quarter of 2008, which happened mainly due to the beginning of new mines exploitation. Complicated weather conditions, with significant air temperature fall and unusually huge snows, affected cathode copper production, however during the year we hope to compensate for the production volumes. Production prospects in 2008 comply with the directions given during the presentation of final results of activities for 2007. Demand for copper is very high worldwide and the volume of new deliveries to meet this demand is limited. To receive additional information, please, contact: Kazakhmys PLC John Smelt, Corporate Relations Department Head Tel: +44 20 7901 7882 Tel: +44 78 7964 2675 Olga Nekrasova, Financial Analyst Tel: +44 20 7901 7814 Merlin David Simonson Tel: +44 20 7653 6620 Tom Randell Leonid Fink Tel: +44 20 7653 6620 Quotation end The full version of the press release of KAZAKHMYS PLC is available at the KASE website at: - http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_300408.pdf - in Russian; - http://www.kase.kz/emitters/scan/kzms/gbkzms_reliz_300408e.pdf - in English. [2008-05-04]