KAZ Minerals: Q1 copper production fell 4.1% YoY, gold production dropped 20.9% YoY

On May 28 (Wednesday), Kazakh metal producer KAZ Minerals stated in a release that the company's copper production in the first quarter of this year was 90,400 mt, a 4.1% YoY decline.

The company attributed the decline in copper production in Q1 to a decrease in ore grade, but its Q1 copper production was still slightly higher than the 92,900 mt produced in Q4 2024.

"The reduction in by-product production was due to mining in areas with lower polymetallic content."

The data also showed that in Q1, its gold production decreased by 20.9% YoY to 31,000 ounces, silver production increased by 0.7% YoY to 884,000 ounces, and zinc concentrates production decreased by 11.4% YoY to 9,300 mt.

In Q1, the company's copper sales volume was 80,300 mt.