Kazakhyms plc is the tenth largest copper cathode producer and the tenth largest mined copper producer in the world. Its principal business is the mining, processing, smelting, refining and sale of copper and copper products, including copper cathode and copper rod. As by-products of it copper operations, the group also processes, refines and sells zinc, gold and silver.

            Red = 25 day moving average.           Green = 200 day moving average.

SALES PER ACTIVITY (Data as of 31/12/2005)

Copper operations & others: 100%

StockMarketWire.com
KAZ Mineral has completed an amendment and extension of its pre-export finance loan facility which includes an increase in the facility commitments to $600m.

KAZ said the new PXF extended the maturity profile of the existing facility by 2.5 years from December 2018 until June 2021.

It said that under the revised repayment profile, principal repayments would commence in July 2018 and then continue in equal monthly instalments over a three-year period until final maturity in June 2021.

It added: "The facility amount has been increased to $600m reflecting strong support from the market during syndication.

"The balance of the $600m commitments over the $224m outstanding under the existing facility as at 31 May 2017 will be available for drawing over a six month availability period until December 2017."

The refinancing was coordinated by Deutsche Bank AG, ING Bank and Societe Generale Corporate and Investment Banking acting as coordinating mandated lead arrangers and bookrunners.

Other lenders in the facility are ABN AMRO Bank NV, Bank of China Limited, Citibank NA, Credit Agricole Corporate and Investment Bank, ICBC London, JP Morgan Chase Bank NA, Natixis, Rabobank London and UniCredit SpA.

Deutsche Bank AG continues as the agent bank and ING Bank is the security trustee.

Chief financial officer Andrew Southam said: "We are pleased to announce the signing of the amendment and extension of the PXF facility with an enlarged syndicate of 12 banks participating.

"The amended facility demonstrates continuing support for the Group from its lenders, with all existing banks maintaining or increasing their participation and four new banks joining the syndicate.

"The new PXF will enhance our financial flexibility as we complete the ramp up of output from our new mines at Bozshakol and Aktogay."

RBC Capital Markets today reaffirms its sector performer investment rating on Kaz Minerals PLC (LON:KAZ) and raised its price target to 650p (from 470p).

StockMarketWire.com
KAZ Minerals said full production had resumed at Bozymchak.

The company said that it had received notification today from the government of Kyrgyzstan that the suspension of operations at Bozymchak announced on 2 Nov had been cancelled.

Bozymchak produced 7 kt of copper cathode and 38 koz of gold bar in 2016.

Citigroup today reaffirms its buy investment rating on Kaz Minerals PLC (LON:KAZ) and set its price target at 1020p.

StockMarketWire.com
KAZ Minerals reported pre-tax profits of $580m for the year to the end of December, up from $220m in 2016 amid strong copper and growth production.

Gross revenues rose doubled to $1,938m and gross EBITDA increased to $1235m, up from $492m, benefiting from a greater proportion of output from the lower cost operations of Bozshakol and Aktogay.

Copper production increased by 80% and gold production was 40% higher compared to prior year.

The miner guided copper production for 2018 of 270-300kt as higher throughput is expected to be offset by slightly lower average copper grades.

Andrew Southam, Chief Executive Officer, said: 'The Group has delivered high production growth and low operating costs in 2017.'

'Following the successful ramp up to date of Bozshakol and Aktogay our asset base is now dominated by large scale, low cost, modern copper mines which are set to generate significant cash flows in the future.'

'We have established a strong platform to deliver further growth in 2018 and from the expansion of Aktogay, which leaves us well positioned to benefit from the expected tightness in the copper market, as declining global supply coincides with continued growth in demand.'

the pain piles on .....

* Shares of copper miner Kaz Minerals -10.6 pct after brokerages cite further problems with Kaz's Aug. 2 acquisition of under-developed copper mine Baimskaya; bottom of FTSE midcap
* Credit Suisse downgrades stock to "neutral" from "outperform", cuts TP to 630p from 1050p, citing that outlook for Kaz "completely changed" after the acquisition of Baimskaya
* Barclays further cut TP by 5 pct to 760p on Friday; It cut it by 21 pct from 1,015p to 800p on Aug. 6 after saying Baimskaya deal is a "fundamental de-rating event" for Kaz
* Broker cuts come a day after Kaz announced its first interim dividend in six years, and said it expects to make a similar payment for H2 as it boosted output and kept costs low in H1, sending shares up 7 pct on Thursday
* "What we had liked in KAZ was low cost operations driving strong FCF, a rapid balance sheet delevering and resultant debt to equity shift. This has now been turned on its head" - CS
* CS: "Including the Baimskaya project means capex will remain very elevated for the next 8 years and on our free cash flow estimates will remain negative over the period"
* Barclays said on Friday it remained unconvinced after Kaz tried to reassure on progress of Russian government at Baimskaya
* On Aug. 2, Kaz shares plunged 30 pct after it said it was expanding into Russia with a deal to buy a copper project in Baimskaya for $900 million from a group of investors including Chelsea soccer club owner Roman Abramovich...

Thought it had bottomed out at 620p... .. doh.

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