REFERENCE: Corporation Kazakhmys OJSC (Kazakhstan) - revenues and expenses

/IRBIS, information of the KASE Listing commission, Aug 23, 01/ - The following information is published due to the transfer of Corporation Kazakhmys second issue common and preferred shares from "B" category into "A" category of Kazakhstan Stock Exchange (KASE) official list. Major indicators of Corporation Kazakhmys OJSC activities (ore extraction and production of refined copper) rose 3 times in 2000 relative to 1995. Production of copper concentrate, gold bars, silver in granules increased. Investments into the production exceeded $300m in last five years. In 2000 Corporation Kazakhmys OJSC produced more than KZT112bn worth of commodities, ores - 37.4m tons, coal - 6.5m tons, and 40.9m tons of ore was processed at concentrating plants. Based on types of products the output reached: copper concentrate - 395.2 th. tons, black copper - 408.0 th. tons, refined copper - 394.7 th. tons, lead dust - 9.8 th. tons, zinc concentrate - 89.9 th. tons, gold bars - 4,074.7 kg, silver in granules - 548.3 tons, electricity - 4.9bn kWh, heat - 3.9m Gcal. In 1999 sales income increased by 50.27% relative to 1998, in 2000 - 51.32%, and in I half of 2001 - about 50% of the income of last year. Low volume of corporation's income in 1998 was due to economic crisis that hit mining industry, and 1999 was characterized by a sharp increase in income due to April devaluation of tenge. High growth rates of income in 2000 are due to an increase in prices of Corporation Kazakhmys OJSC products on the world markets. Based on the indicators, it can be assumed that sales income in 2001 will be comparable to that of 2000. Income dynamics of Corporation Kazakhmys OJSC based on output types in 1998-2000 and I half of 2001 ---------------------------------------------------------------------------------- 1998 1999 2000 as of July 1.01 --------------- --------------- ---------------- ---------------- th. KZT % th. KZT % th. KZT % th. KZT % ---------------- ---------- ---- ---------- ---- ----------- ---- ---------- ----- Sales volume Cathode copper 37,147,663 67.5 58,946,208 70.2 88,974,430 72.8 47,230,491 71.9 Copper wire rod 955,559 1.7 1,078,465 1.3 753,179 0.6 1,877,812 2.9 Gold 1,239,999 2.2 1,197,264 1.4 2,428,625 2.0 1,545,833 2.4 Silver 4,861,127 8.9 7,727,651 9.2 13,137,582 10.7 6,629,218 10.1 Coal - - - - 503,199 0.4 366,722 0.6 Zinc concentrate - - 872,999 1.0 2,677,692 2.2 862,016 1.3 By-products 520,658 0.9 118,879 0.1 130,550 0.1 109,554 0.2 Heat, water 1,003,919 1.8 831,962 1.0 832,253 0.7 479,281 0.7 Power 1,673,448 3.0 1,622,994 2.0 1,309210 1.1 550,536 0.8 Others 2,160,469 4.0 2,083,045 2.5 1,952,681 1.6 1,146,613 1.7 Total from 92.6 primary 49,562,842 90 74,479,467 88.7 112,699,401 92.2 60,798,076 activities Total from secondary activities 5,574,028 10 9,540,625 11.3 9,623,587 7.8 4,856,595 7.4 Total income 55,136,870 100 84,019,092 100 12,322,988 100 2,402,901 100.0 ---------------- ---------- ---- ---------- ---- ----------- ---- ---------- ----- Cost Cathode copper 27,678,748 47.4 30,777,944 40.9 34,091,343 47.3 18,942,601 48.37 Copper wire rod 729,530 1.2 502,296 0.7 309,898 0.4 758,272 1.94 Gold 827,445 1.4 588,311 0.8 1,447,189 2.0 1,035,373 2.64 Silver 3,157,603 5.4 4,285,808 5.7 6,519,918 9.0 3,534,061 9.02 Zinc concentrate 241,985 0.3 983,574 1.4 295,915 0.76 ---------------------------------------------------------------------------------- The most of the sales income in I half of 2001 came from the sales of cathode copper. Comparable analysis of the sales income based on types of products from 1998 to 2000 shows almost the same picture. The proportion of copper equaled 67.5% (1998); 70.2% (1999); 72.8% (2000) and 71.9% in I half of 2001.