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LONDON, March 3 (Reuters) - Kazakhmys (KAZ.L), the world's 10th largest copper miner, was confident the long-term outlook for copper remained positive as a surge in prices drove its full-year profit higher.
Kazakhmys said on Thursday its 2010 earnings before interest, tax, depreciation and amortisation (EBITDA) rose 59.5 percent to $1.93 billion. According to Thomson Reuters I/B/E/S estimates, the average EBITDA forecast stood at $1.86 billion.
The company added it was still considering a secondary market listing in Hong Kong, to help tap demand from Asia, as well as the sale of its non-core Maikuben coal mine.
Benchmark London Metal Exchange copper MCU3 rose 31 percent last year and hit a record $10,190 a tonne last month, driven partly by rising demand from markets such as China.
Higher commodity prices also fuelled a surge in profits at commodity trader Glencore [GLEN.UL], which is considering a giant stock market listing, and Kazakhmys said a relative lack of supply would continue to boost copper prices.
&nbsp;&quot;The long-term outlook for copper remains positive, as it is a metal fundamental for economic growth and development, but with constrained supply,&quot; said Kazakhmys Chief Executive Oleg Novachuk.
Kazakhmys shares were up 0.9 percent to 1,449 pence by 0849 GMT, giving the group a market capitalisation of around 7.8 billion pounds ($12.74 billion).
&quot;Copper remains one of our preferred commodities and Kazakhmys remains an attractively priced stock compared to global copper peers,&quot; Credit Suisse said in a research note, keeping an &quot;outperform&quot; rating on the shares.
According to Thomson Reuters Starmine, Kazakhmys shares are trading on a 2011 price-to-earnings ratio of around 6.1, compared to a sector average P/E ratio of around 11. 
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