KAZ MINERALS

KAZ Minerals is one of the largest copper producers in Kazakhstan. We are focused on the mining of copper and the development of new copper mining projects in Kazakhstan. Our copper production is growing as we ramp up our new mines at Bozshakol and Aktogay. We aim to deliver value, not volume, and these new assets are competitively positioned on the global cost curve. In October 2014 we completed a major restructuring of the Group which enabled us to focus on low cost, open pit copper mining. Our goal is to achieve 80% of ore output from the new open pit mines, producing approximately 300 kt of copper in concentrate in 2018. This represents a compound annual growth in production of 55% between 2015 and 2018, amongst the highest in the industry.