KAZ Minerals PLC (United Kingdom) reports audited results of operations for 2019

10.03.20, 12:43
/KASE, March 10, 2020/ – KAZ Minerals PLC (London), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with press release dated February 20, 2020, which states as follows: quote FINANCIAL HIGHLIGHTS - Revenues increased by 5% to $2,266 million (2018: $2,162 million) as higher production and sales offset lower copper prices - Full year copper sales volumes of 317 kt (2018: 296 kt) and gold sales of 225 koz (2018: 169 koz) - Average LME copper price in 2019 reduced by 8% to $6,000/t (2018: $6,526/t) - EBITDA of $1,355 million at an EBITDA margin of 60% (2018: $1,310 million) - Operating profit increased by 8% to $923 million (2018: $851 million) - Industry leading net cash cost1 of 77 USc/lb (2018: 85 USc/lb) - Gross cash costs1 reduced to 140 USc/lb (2018: 144 USc/lb) driven by increased contribution from Aktogay and cost efficiencies at the East Region - Gold by-product revenues rose by 50% to $318 million (2018: $212 million) driven by 10% increase in production, 10% higher average LBMA gold price and the sale of inventory - Structural factors of economies of scale, competitive energy and transport costs, and low strip ratios continue to support the Group’s low cost position unquote Full version of the press release is posted on the KASE website – http://kase.kz/files/emitters/GB_KZMS/gb_kzms_reliz_200220_1.pdf [2020-03-10]