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In 2014, copper production KAZ Minerals exceeded its sale

the Group financial and operating KAZ Minerals have recently been published in the past year. According to the presented data, sales revenue fell to 846 million. USD. For comparison — in 2013 revenues of 931 million USD… The reason stated falling metals prices and a reduction in volumes sold. Last year KAZ Minerals has sold 78,200 tonnes of copper cathode. The volume of production reached 83,500 tons. However, EBITDA remained at the 2013 level indicator for the year 2014 due to lower operating costs.

By year end, the Group's net debt amounted to 962 million. USD with the planned increase in capital expenditures for the construction of Aktogay and Bozshakol. Investments in these projects are provided by the Group's own funds and with the help of long-term loans. Given the need to own investments in the implementation of growth projects, payment of dividends can be suspended. The initiator of this decision, the Board of Directors acts KAZ Minerals. Shareholders were paid about 2.1 bln. USD, the payment is scheduled to resume in the future.

Last year Bozshakol completed building the main building the processing plant. This allowed for the installation of equipment in the cold season. It paved the way to the railway national network to mine. On the platform was delivered and assembled mining equipment — large-capacity dump trucks, excavators and other field camp has been put into operation… It was established under the support conveyor and built design for crushing the body. Also in the framework of the project the growth and prepare the mine to the beginning of operation in 2015 started training. Capital expenditures for Bozshakol mine totaled 0.5 billion USD in 2014. Investments in 2015 will reach 0.9 billion. USD. In general, the construction of Mining costs amount to about 2.2 billion. USD.

The first smelting of copper from oxide ore at Aktogay is scheduled for October-December 2015. The release of copper from sulfide ore expected to begin in 2017. In the past year were earthworks for the construction of the processing plant. Today, production sites are ready for heap leaching. Capital expenditures for Aktogay mine in 2014 amounted to 0.4 billion. USD. This year, the project is expected to invest 0.5 to 0.7 billion. USD. In general, investment in the Aktogay project are estimated at 2.3 bln. USD.

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