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Kaz Minerals exceeds copper guidance with 73 percent output growth

Reuters - UK Focus

LONDON, Jan 26 (Reuters) - Kazakhstan copper company Kaz Minerals said it had exceeded its full-year copper guidance in 2016 with 73 percent year-on-year output growth as new projects came onstream.

Kaz Minerals (LSE: KAZ.L - news) has two new major copper projects under construction, which it describes as world-class open-pit mines -- cheaper than having to extract from deep underground.

"We successfully ramped up Bozshakol and the Aktogay oxide plant," Chief Executive Oleg Novachuk said. "Our growth will continue in 2017 as Bozshakol reaches capacity and we commence production from sulphide ore at Aktogay."

(Reporting by Barbara Lewis; editing by Susan Thomas)